Is it Time to Take Some Profits in Alphabet (GOOG)?

Baron Funds, an asset management firm, published its “Baron Global Advantage Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. Baron Global Advantage Fund (the “Fund”) declined 22.8% (Institutional Shares), during the first quarter, compared to the 5.4% loss for the MSCI ACWI Index (the “Index”), and the 9.7% loss for the MSCI ACWI Growth Index, the Fund’s benchmarks. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Baron Global Advantage Fund mentioned Alphabet Inc. (NASDAQ:GOOG) and explained its insights for the company. Founded in 2015, Alphabet Inc. (NASDAQ:GOOG)  is a Mountain View, California-based multinational technology conglomerate holding company with a $1.5 trillion market capitalization. Alphabet Inc. (NASDAQ:GOOG)  delivered a -18.35% return since the beginning of the year, while its 12-month returns are up by 0.35%. The stock closed at $2,343.14 per share on May 02, 2022.

Here is what Baron Global Advantage Fund has to say about Alphabet Inc. (NASDAQ:GOOG) in its Q1 2022 investor letter:

“We have modestly reduced the size of our position in Alphabet Inc. (NASDAQ:GOOG) (from 6.5% at the end of the fourth quarter of 2021 to 5.3% as of the end of the first quarter of 2022), after the stock rallied 64% in 2021 and continued outperforming during the first quarter, declining just 3%.”

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Our calculations show that Alphabet Inc. (NASDAQ:GOOG) ranks 5th on our list of the 30 Most Popular Stocks Among Hedge Funds. Alphabet Inc. (NASDAQ:GOOG) was in 158 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 156 funds in the previous quarter. Alphabet Inc. (NASDAQ:GOOG) delivered a -14.32% return in the past 3 months.

In May 2022, we also shared another hedge fund’s views on Alphabet Inc. (NASDAQ:GOOG) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.