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Alphabet (GOOG) Is Buying Back More Stock

If you are looking for the best ideas for your portfolio you may want to consider some of Tao Value’s top stock picks. Tao Value, an investment management firm, is bullish on Alphabet Inc. (NASDAQ:GOOG) stock. In its Q4 2019 investor letter – you can download a copy here – the firm discussed its investment thesis on Alphabet Inc. (NASDAQ:GOOG) stock. Alphabet Inc. (NASDAQ:GOOG) is a technology company that specializes in Internet-related services and products. The stock is up 3.5% since Tao Value’s pitch. Tao Value said the following in the letter:

“Alphabet (ticker: GOOG), in December, announced to promote its Google division CEO Sundar Pichai to the CEO of the parent holding company – Alphabet, Inc. This should help align group’s mission & vision, which is a positive for the long term. During its most recent Q4 earning announcement, Alphabet, for the first time, disclosed separate numbers for Youtube, which has an annual run rate of $15 billion, growing 36% year-o-year. The $15 billion may appear a huge number, however it only translates into less than $8 for each of its 2 billion users. As a user, I believe the $8/year is way under value for Youtube’s services that I use, thus Youtube still has multi-folds growth path ahead of it. I also noticed a good sign that Alphabet started to deploy more cash for share buybacks, spending $6.2 billion compared to $2.7 billion last year.”

In Q1 2020, the number of bullish hedge fund positions on Alphabet Inc. (NASDAQ:GOOG) stock decreased by about 1% from the previous quarter (see the chart here), so a number of other hedge fund managers don’t seem to agree with Alphabet’s growth potential. Our calculations showed that Alphabet Inc. (NASDAQ:GOOG) is ranked #5 among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 185% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 109 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

Video: Top 5 Stocks Among Hedge Funds

At Insider Monkey we leave no stone unturned when looking for the next great investment idea. For example, 2020’s unprecedented market conditions provide us with the highest number of trading opportunities in a decade. So we are checking out stocks recommended/scorned by legendary Bill Miller. We interview hedge fund managers and ask them about their best ideas. If you want to find out the best healthcare stock to buy right now, you can watch our latest hedge fund manager interview here. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. Our best call in 2020 was shorting the market when the S&P 500 was trading at 3150 after realizing the coronavirus pandemic’s significance before most investors. You can subscribe to our free enewsletter below to receive our stories in your inbox:

Disclosure: None. This article is originally published at Insider Monkey.

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