Is it Still Worthy to Invest in Alphabet (GOOG)?

Tweedy, Browne, an investment management firm, released its first quarter 2023 investor letter, a copy of which can be downloaded here. Tweedy, Browne has entered into a voluntary agreement, whereby they will waive the fees associated with the International Value Fund whenever the Fund’s average daily net assets (“ADNA”) surpass the threshold of $6 billion. The performance of the Fund would have been lower if fees were not waived during specific periods. Spare some time to check the fund’s top 5 holdings to know more about their top bets for 2023.

In its Q1 2023 investor letter, Tweedy, Browne 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 technology conglomerate holding company with a $1.5 trillion market capitalization. Alphabet Inc. (NASDAQ:GOOG) delivered a 36.92% return since the beginning of the year, while its 12-month returns are up by 7.81%. The stock closed at $33.43 per share on June 21, 2023.

Here is what Tweedy, Browne has to say about Alphabet Inc. (NASDAQ:GOOG) in its Q1 2023 investor letter:

“Portfolio activity slowed somewhat during the quarter as equity prices advanced. While there were a few new positions established, and a few sales, portfolio activity overall was quite modest compared to the rather brisk pace of the last two years. On the sell side, a number of holdings were sold or pared back, including Alphabet Inc. (NASDAQ:GOOG) among others. The stock prices of these businesses had either reached our estimates of their underlying intrinsic values or had been compromised in some way by virtue of declines in our estimates of their underlying intrinsic values and future growth prospects. Or, they may have been sold or trimmed to make room for new additions, or to generate losses, which could be used to offset realized gains.”

Photo by Kai Wenzel on Unsplash

Our calculations show that Alphabet Inc. (NASDAQ:GOOG) ranks 6th on our list of the 30 Most Popular Stocks Among Hedge Funds. Alphabet Inc. (NASDAQ:GOOG) was in 155 hedge fund portfolios at the end of the first quarter of 2023, compared to 152 funds in the previous quarter. Alphabet Inc. (NASDAQ:GOOG) delivered a 14.33% return in the past 3 months.

Earlier this year, we also discussed 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 Q1 2023 page.

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