Here’s Why Alphabet Inc (GOOGL) Is in Spotlight Today

As one would reasonably expect, key money managers have jumped into Alphabet Inc (NASDAQ:GOOGL) headfirst. Third Point, managed by Dan Loeb, assembled the biggest position in Alphabet Inc (NASDAQ:GOOGL). Third Point had $534 million invested in the company at the end of the quarter. Jim Simons’s Renaissance Technologies also initiated a $125.1 million position during the quarter. The other funds with new positions in the stock are Alexander Mitchell’s Scopus Asset Management, Nick Niell’s Arrowgrass Capital Partners, and Matthew Tewksbury’s Stevens Capital Management.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Alphabet Inc (NASDAQ:GOOGL) but similarly valued. We will take a look at Alphabet Inc (NASDAQ:GOOG), Microsoft Corporation (NASDAQ:MSFT), Berkshire Hathaway Inc. (NYSE:BRK-B), and Exxon Mobil Corporation (NYSE:XOM). This group of stocks’ market values are similar to GOOGL’s market value.

As you can see these stocks had an average of 104.25 hedge funds with bullish positions and the average amount invested in these stocks was $14.45 billion. That figure was $14.98 villion in GOOGL’s case. Microsoft Corporation (NASDAQ:MSFT) is the most popular stock in this table. On the other hand, Exxon Mobil Corporation (NYSE:XOM) is the least popular one with only 60 bullish hedge fund positions. Compared to these stocks, Alphabet Inc (NASDAQ:GOOGL) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None