Should You Hold Alphabet (GOOG)?

Investment management company Vulcan Value Partners recently released its first-quarter 2023 investor letter. A copy of the same can be downloaded here. The firm has five strategies, and all gained positive returns and outperformed their respective benchmark indexes in the first quarter. The fund’s Large-Cap Composite returned 14.0% net of fees and expenses, the Small Cap Composite returned 8.1% net, the Focus Composite returned 20.4% net, the Focus Plus composite returned 20.4%, and the All-Cap Composite returned 16.8% net. You can check the top 5 holdings of the fund to know its best picks in 2023.

Vulcan Value Partners highlighted stocks like Alphabet Inc. (NASDAQ:GOOG) in the first quarter 2023 investor letter. Headquartered in Mountain View, California, Alphabet Inc. (NASDAQ:GOOG) is a multinational technology company. On May 5, 2023, Alphabet Inc. (NASDAQ:GOOG) stock closed at $106.21 per share. One-month return of Alphabet Inc. (NASDAQ:GOOG) was -0.69%, and its shares lost 6.07% of their value over the last 52 weeks. Alphabet Inc. (NASDAQ:GOOG) has a market capitalization of $1.344 trillion.

Vulcan Value Partners made the following comment about Alphabet Inc. (NASDAQ:GOOG) in its Q1 2023 investor letter:

“Additionally, Skyworks Solutions, Amazon, Alphabet Inc. (NASDAQ:GOOG), KKR & Co., and TransDigm Group were all material contributors during the quarter. We have discussed these companies at length in prior letters. Alphabet reported mixed results in a tough environment. The company is working to adjust its cost structure in light of the current macroeconomic environment. All of these companies are executing well, their theses are intact, and we are pleased to own them at a discount to our estimate of intrinsic value.”

Pixabay/Public Domain

Alphabet Inc. (NASDAQ:GOOG) is in 6th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 152 hedge fund portfolios held Alphabet Inc. (NASDAQ:GOOG) at the end of the fourth quarter which was 156 in the previous quarter.

We discussed Alphabet Inc. (NASDAQ:GOOG) in another article and shared the list of largest R&D companies in the world. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

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