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Here's why Google is ready to break out: Expert

Eaton Vance portfolio manager Lew Piantedosi recently added to his core holdings of Facebook, Google and Apple. Out of those three marquee names, he contends Google shares have the most room to run.

"The stock has consolidated the last year or so, and we think it's ready to break out," Piantedosi told CNBC's "Tech Bet" on Thursday, citing the web search giant's improving efforts to monetize YouTube.

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Piantedosi , who runs several growth funds at Eaton Vance, also told CNBC that Google's recent hire of Morgan Stanley's Ruth Porat as its new CFO should soon prove to become a boon for shareholders.

Google Ventures Headquarters in Mountain View, Calif.
Google
Google Ventures Headquarters in Mountain View, Calif.

Google's investments have always been diverse, ranging from your desktop to outer space. To Piantedosi, the company's wide-ranging investments have become somewhat of a pain point.

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"That's always been one of the concerns ... ," he said. "It's hard to kind of gauge what kind of returns they're getting but like I said with the new CFO, we should start to get some better capital discipline from that company and I think that's a nice catalyst for the stock."

Piantedosi also likes the semiconductor space and Salesforce.com. Eaton Vance currently holds assets under management of about $303 billion, according to a statement in March.

Disclosure: Piantedosi owns all stocks through his fund.