Alphabet (NASDAQ:GOOGL) is a multinational technology company generally specializing in internet related services and products. Alphabet’s core search business delivered strong operating results which eased investor fears that the company’s primary search advertising products would not be as relevant on mobile phones as on desktops. Additionally, the share price also rose due to the company’s decision to provide more financial information on individual operating units beginning in 2016. We believe this is a positive move, as it may entail further disclosures of both the highly profitable Google Internet Services business and the company’s other venture investments. We trimmed our position during the fourth quarter as the stock price approached our estimate of business value.
From Wallace Weitz (Trades, Portfolio)'s fourth quarter 2015 Value Fund commentary.
