5 Long-Term Stocks to Buy

3. Alphabet Inc. (NASDAQ:GOOG)

GuardCap Asset Management’s Stake Value: $688,912,470

Percentage of GuardCap Asset Management’s 13F Portfolio: 9.56%

Number of Hedge Fund Holders: 152

Alphabet Inc. (NASDAQ:GOOG), based in Mountain View, California, is the parent company of several companies including Google, Verily Life Sciences, GV (formerly Google Ventures), Calico, and X-the moonshot factory. Majority of its revenue is generated by Google Services which comprises of ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Alphabet Inc. (NASDAQ:GOOG) is ranked #2 on the list of GuardCap Asset Management’s holdings based on its 13F portfolio weight of 9.56% with the investment manager owning 5.3 shares. Its stake decreased by 5% in Q3 2023, compared to the previous quarter.

On October 24, Alphabet Inc. (NASDAQ:GOOGL) released financial results for the three months ended September 30. Its revenues increased by 11% y-o-y to $76.7 billion while net income surged by 42% y-o-y to $19.7 billion.

Following the earnings release, Oppenheimer analyst Jason Helfstein reiterated an ‘Outperform’ rating for Alphabet Inc. (NASDAQ:GOOGL) shares with a price target of $160 per share.

Alphabet Inc. (NASDAQ:GOOG) is the most owned stock among the 910 hedge funds tracked by Insider Monkey on our list. As of Q2 2023, 152 hedge funds owned shares of Alphabet Inc. (NASDAQ:GOOG), valued at $18.9 billion. Ken Fisher’s Fisher Asset Management was the largest shareholder on record with ownership of 42.7 million shares valued at $5.1 billion.