Is Amazon.com, Inc. (AMZN) A Good Stock To Buy Right Now?

As industrywide interest jumped, key hedge funds have been driving this bullishness. Citadel Investment Group, managed by Ken Griffin, created the biggest call position in Amazon.com, Inc. (NASDAQ:AMZN). Citadel Investment Group had $1.0845 billion invested in the company at the end of the quarter. Mark Kingdon’s Kingdon Capital also made a $78.8 million investment in the stock during the quarter. The other funds with brand new AMZN positions are Sharlyn C. Heslam’s Stockbridge Partners, Anand Parekh’s Alyeska Investment Group, and Doug Gordon, Jon Hilsabeck and Don Jabro’s Shellback Capital.

Let’s go over hedge fund activity in other stocks similar to Amazon.com, Inc. (NASDAQ:AMZN). These stocks are Johnson & Johnson (NYSE:JNJ), Facebook Inc (NASDAQ:FB), General Electric Company (NYSE:GE), and AT&T Inc. (NYSE:T). All of these stocks’ market caps match AMZN’s market cap.

As you can see these stocks had an average of 84.25 hedge funds with bullish positions and the average amount invested in these stocks was $7.3 billion. That figure was $20.8 billion in AMZN’s case. Facebook Inc (NASDAQ:FB) is the most popular stock in this table. On the other hand AT&T Inc. (NYSE:T) is the least popular one with only 51 bullish hedge fund positions. Compared to these stocks Amazon.com, Inc. (NASDAQ:AMZN) is more popular among hedge funds. Considering that hedge funds are fond of Amazon in relation to its market cap peers and historically investors achieved superior returns by investing in the top stock among hedge funds, you should seriously consider initiating a position in this stock.