Top 5 Stock Picks of Joe Magyer’s Lakehouse Capital

Page 1 of 5

In this article, we discuss the top 5 stock picks of Joe Magyer’s Lakehouse Capital. If you want our detailed analysis of these stocks, go directly to the Top 10 Stock Picks of Joe Magyer’s Lakehouse Capital.

5. Alphabet Inc. (NASDAQ:GOOG)

Lakehouse Capital’s Stake Value: $16,847,000

Percentage of Lakehouse Capital’s 13F Portfolio: 9.51%

Number of Hedge Fund Holders: 155

Alphabet Inc. (NASDAQ:GOOG) posted its Q3 results on October 26, with EPS for the quarter being $27.99, outperforming estimates by $4.75. The $65.12 billion revenue was up 41.03% from the prior-year quarter, topping estimated revenue by $1.83 billion. Following the strong Q3 performance, Jefferies analyst Brent Thill raised the price target on Alphabet Inc. (NASDAQ:GOOG) to $3,500 from $3,325 and kept a Buy rating on the stock. 

Joe Magyer’s Lakehouse Capital owns 6,321 Alphabet Inc. (NASDAQ:GOOG) shares, worth $16.8 million as of Q3 2021, representing 9.51% of the firm’s portfolio. 

At the end of June this year, Alphabet Inc. (NASDAQ:GOOG) remained a popular stock among the smart money, with 155 hedge funds owning stakes worth $33.79 billion in the US tech giant. Of the 873 funds tracked by Insider Monkey, Chris Hohn’s TCI Fund Management is the largest Alphabet Inc. (NASDAQ:GOOG) stakeholder, with a $7.8 billion position in the company. 

Here is what Oakmark Funds has to say about Alphabet Inc. (NASDAQ:GOOG) in its Q3 2021 investor letter:

“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.”

Page 1 of 5