Published on 31 May 2023 on Insider Monkey via Yahoo Finance
What Makes Alphabet (GOOGL) an Attractive Investment Now?
Third Point Management, a New York-based investment advisor, released its first-quarter 2023 investor letter. A copy of the same can be downloaded here. The Third Point Offshore Fund returned -4.1% net in the first quarter compared to a 7.5% return for the S&P 500 INDEX (TR) and a 7.9% return for the MSCI WORLD INDEX (TR). In addition, please check the fund’s top five holdings to know its best picks in 2023.
Third Point Management highlighted stocks like Alphabet Inc. (NASDAQ:GOOGL) in the first quarter 2023 investor letter. Headquartered in Mountain View, California, Alphabet Inc. (NASDAQ:GOOGL) is a multinational technology company. On May 30, 2023, Alphabet Inc. (NASDAQ:GOOGL) stock closed at $123.67 per share. One-month return of Alphabet Inc. (NASDAQ:GOOGL) was 17.32%, and its shares gained 8.59% of their value over the last 52 weeks. Alphabet Inc. (NASDAQ:GOOGL) has a market capitalization of $1.575 trillion.
Third Point Management made the following comment about Alphabet Inc. (NASDAQ:GOOGL) in its Q1 2023 investor letter: