Generali Investments Management Co LLC Doubles Down on Alphabet Inc.
Generali Investments Management Co LLC significantly increased its position in Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to its most recent 13F filing with the SEC.
The institutional investor bought an additional 3,559 shares of the information services provider's stock, bringing its total holdings to 103,126 shares and making Alphabet comprise 8% of Generali Investments Management Co LLC's investment portfolio.
This is not an isolated incident; several other hedge funds have also recently added to or reduced their stakes in Alphabet. NewEdge Wealth LLC boosted its holdings by 11.8% during the fourth quarter, while PFG Investments LLC increased its stake in shares of Alphabet by 2.6% in the first quarter.
The significant increase in institutional ownership has led to a positive sentiment surrounding Alphabet, with Berkshire Hathaway sharply increasing its position and several prominent investors reporting purchases.