5 Stocks to Buy Now According to Billionaire David Tepper

4. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 153

Appaloosa Management LP’s Stake Value: $218,745,000

Percentage of Appaloosa Management LP’s 13F Portfolio: 13.73%

Alphabet Inc. (NASDAQ:GOOG), based in Mountain View, California, is the parent company of several companies including the 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 #1 on the list of David Tepper’s Appaloosa Management LP’s  holdings based on its portfolio weight of 13.73% as of Q2 2022. The hedge fund holds 100,000 shares of Alphabet Inc. (NASDAQ:GOOG), 16% less than the number of shares held at the end of the previous quarter.

Alphabet Inc. (NASDAQ:GOOG) announced the release of Android 13 earlier in August, adding multiple new features focused on personalization and privacy. Alphabet Inc. (NASDAQ:GOOG) released the financial results for Q2 2022 earlier this year in July. Its revenue increased by 13% y-o-y to $69.7 billion, while its net income decreased by 16% y-o-y to $16 billion, for three months ended June 30, 2022. It reported an EPS of $1.21, missing the consensus by $0.08.

Alphabet Inc. (NASDAQ:GOOG) is one of the most commonly owned stock among the 895 hedge funds tracked by Insider Monkey. As of Q2 2022, 153 hedge funds owned shares of Alphabet Inc. (NASDAQ:GOOG), valued at $22.3 billion.