What Makes Alphabet (GOOG) a Good Long-Term Investment?

The London Company, an investment management company, released “The London Company Large Cap Strategy” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund returned 2.7% gross, (2.6% net) compared to a 7.5% increase in the Russell 1000 Index. Both Stock Selection and sector allocation affected the portfolio’s relative performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

The London Company Large Cap Strategy 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 June 29, 2023, Alphabet Inc. (NASDAQ:GOOG) stock closed at $120.01 per share. One-month return of Alphabet Inc. (NASDAQ:GOOG) was -4.17%, and its shares gained 10.02% of their value over the last 52 weeks. Alphabet Inc. (NASDAQ:GOOG) has a market capitalization of $1.519 trillion.

The London Company Large Cap Strategy made the following comment about Alphabet Inc. (NASDAQ:GOOG) in its first quarter 2023 investor letter:

Alphabet Inc. (NASDAQ:GOOG) – GOOG rebounded during Q1 along with other large technology companies. While the industry is facing a pullback in ad spending, GOOG continues to find ways to monetize the business and improve efficiency. Management is committed to reengineering the cost structure and growing revenues faster than expenses. GOOG continues to invest in ways to expand its ecosystem (search, cloud, Al, and hardware) with a larger focus on privacy and security. GOOG continues to repurchase shares, maintains a solid balance sheet, and is the share leader in its primary markets.”

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Alphabet Inc. (NASDAQ:GOOG) is in 6th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 155 hedge fund portfolios held Alphabet Inc. (NASDAQ:GOOG) at the end of first quarter 2023 which was 152 in the previous quarter.

We discussed Alphabet Inc. (NASDAQ:GOOG) in another article and shared L1 Capital International Fund’s views on the company. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

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