Is Alphabet Inc (GOOGL) A Good Stock To Buy?

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Consequently, key hedge funds have jumped into Alphabet Inc (NASDAQ:GOOGL) headfirst. Citadel Investment Group initiated the most valuable position in Alphabet Inc (NASDAQ:GOOGL). Citadel Investment Group had $510.9 million invested in the company at the end of the quarter. The other funds with new positions in the stock are Steve Cohen’s Point72 Asset Management, Gabriel Plotkin’s Melvin Capital Management, and Josh Resnick’s Jericho Capital Asset Management.

Let’s go over hedge fund activity in other stocks similar to Alphabet Inc (NASDAQ:GOOGL). We will take a look at Alphabet Inc (NASDAQ:GOOG), Microsoft Corporation (NASDAQ:MSFT), Exxon Mobil Corporation (NYSE:XOM), and Berkshire Hathaway Inc. (NYSE:BRK-B). This group of stocks’ market values are similar to GOOGL’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
GOOG 134 14227250 8
MSFT 126 18140293 -5
XOM 59 2828791 -1
BRK-B 74 20315727 -4

As you can see these stocks had an average of 98.25 hedge funds with bullish positions and the average amount invested in these stocks was $13878 million. That figure was $14789 million in GOOGL’s case. Alphabet Inc (NASDAQ:GOOG) is the most popular stock in this table. On the other hand Exxon Mobil Corporation (NYSE:XOM) is the least popular one with only 59 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

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