5 Large-Cap Stocks to Buy According to Claes Fornell’s CSat Investment

3. Alphabet Inc. (NASDAQ:GOOG)

CSat Investment’s Stake Value: $3.6 million

Percentage of CSat Investment’s 13F Portfolio: 3.04%

Number of Hedge Fund Holders: 156

Market Capitalization as of 12/3/21: $1.89 trillion

Alphabet Inc. (NASDAQ:GOOG) is the holding company for the search engine giant Google. In addition to Google, it also has other services such as YouTube, Cloud and Other Bets.

Mr. Fornell’s CSat Investments owned 1,752 Alphabet Inc. (NASDAQ:GOOG) shares worth $3.6 million and constituting 3.04% of its portfolio during the third quarter of this year. Additionally, during Q3 2021, 156 of the 867 hedge funds polled by Insider Monkey held stakes in the company.

Alphabet Inc. (NASDAQ:GOOG) brought in $65 billion in revenue and $27.99 in GAAP EPS during its Q3, beating analyst estimates for both. Tigress Financial raised its price target to $3,540 from $3,185 in December 2021, outlining that investments in artificial intelligence spell a positive future for the company.

In its Q3 2021 investor letter, Oakmark Funds mentioned Alphabet Inc. (NASDAQ:GOOG). Here is what the fund said:

“Alphabet, a U.S. communication services provider, was once again a top contributor for the quarter, solidifying its rank as a top contributing stock for the one-year period. The company’s financial results repeatedly exceeded expectations. In particular, its revenue grew faster than expected and its margin trends improved across all segments. In addition, management has executed $24.4 billion of stock repurchases so far in 2021. After further examination, we recently increased our estimate of Alphabet’s intrinsic value based on the company’s better than expected operating leverage and its notable efficiency improvements. As a result, we continue to believe that Alphabet is trading at a significant discount to its intrinsic value.”