Should You Buy Alphabet Inc (GOOG)?

Now, specific money managers have been driving this bullishness. Citadel Investment Group, managed by Ken Griffin, initiated the biggest call position in Alphabet Inc (NASDAQ:GOOG). Citadel Investment Group had $258.1 million invested in the company at the end of the quarter. Leon Shaulov’s Maplelane Capital also initiated a $233.2 million position during the quarter. The other funds with new positions in the stock are Chase Coleman’s Tiger Global Management LLC, Anand Parekh’s Alyeska Investment Group, and Steve Cohen’s Point72 Asset Management.

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

As you can see these stocks had an average of 102 hedge funds with long positions and the average amount invested in these stocks was $15.52 billion. That figure was $14.23 billion in GOOG’s case. Amazon.com, Inc. (NASDAQ:AMZN) 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. Alphabet Inc (NASDAQ:GOOG) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard AMZN might be a better candidate to consider a long position.