What are the 5 Best Stocks to Buy Right Now?

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In this article, we discuss the 5 best stocks to buy right now. If you want to read our detailed analysis of these stocks, go directly to What are the Best Stocks to Buy Right Now?

5. Alphabet Inc. (NASDAQ: GOOG)

Number of Hedge Fund Holders: 159   

Alphabet Inc. (NASDAQ: GOOG) is a California-based firm that operates the internet search engine Google. It is ranked fifth on our list of 10 best stocks to buy right now. The company’s shares have returned 82% to investors over the past year. Over the past year, the sales of the Google Cloud platform marketed by the firm have increased as remote work becomes the norm in many parts of the world, driving revenue growth for the internet giant. The firm recently beat market estimates on revenue and earnings per share for the second quarter. 

On July 28, investment advisory JPMorgan reiterated an Overweight rating on Alphabet Inc. (NASDAQ: GOOG) stock and raised the price target to $3,250 from $2,875, noting that key components of a bull thesis on the firm were continuing to play out. 

Out of the hedge funds being tracked by Insider Monkey, London-based investment firm TCI Fund Management is a leading shareholder in the firm with 2.9 million shares worth more than $6.1 billion. 

In its Q1 2021 investor letter, Artisan Partners, an asset management firm, highlighted a few stocks and Alphabet Inc. (NASDAQ: GOOG) was one of them. Here is what the fund said:

“Large-cap tech companies have been resilient through the pandemic—Alphabet among them. A top contributor, Alphabet’s Play Store and Google Cloud are in demand as businesses accelerate online activity which, along with strong YouTube user growth, is helping stabilize temporarily weaker search ad revenue trends. Through the lens of our disciplined bottom-up research process, we view Alphabet as one of the best businesses in the world, capable of expanding revenues at a rapid rate for years to come, with a bullet proof balance sheet and an average asking price. It’s a name we’ve owned since 2012 and for which we continue to have high hopes regarding future prospects.”

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