Top 5 Stock Picks of Rajiv Jain’s GQG Partners

2. Alphabet Inc. (NASDAQ:GOOG)

GQG Partners’ Stake Value: $2,813,907,000

Percentage of GQG Partners’ 13F Portfolio: 8.26%

Number of Hedge Fund Holders: 155

Alphabet Inc. (NASDAQ:GOOG) is an American multinational tech conglomerate, commonly recognized for being the parent company of Google and Google subsidiaries since 2015.

GQG Partners owns 1.12 million shares in Alphabet Inc. (NASDAQ:GOOG), valued at $2.8 billion. Insider Monkey’s database of elite funds indicates that one of the largest stakeholders in Alphabet Inc. (NASDAQ:GOOG) is Aubrey Capital Management, with stakes roughly worth $9.62 billion. Overall, 155 hedge funds were long Alphabet Inc. (NASDAQ:GOOG) as of June this year. 

On October 26, Q3 earnings for Alphabet Inc. (NASDAQ:GOOG) were reported. EPS in the period totaled $27.99, beating analysts’ consensus estimates of $23.48 by $4.51. Morgan Stanley analyst Brian Nowak proceeded to keep an Overweight rating on Alphabet Inc. (NASDAQ:GOOG) on November 2, raising the price target from $3,000 to $3,200, following the strong Q3 earnings beat. 

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.”