Bedell Frazier Investment Counseling LLC Has $8.55 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Bedell Frazier Investment Counseling LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,902 shares of the information services provider’s stock after purchasing an additional 1,131 shares during the period. Alphabet makes up approximately 2.2% of Bedell Frazier Investment Counseling LLC’s investment portfolio, making the stock its 13th largest holding. Bedell Frazier Investment Counseling LLC’s holdings in Alphabet were worth $8,550,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bornite Capital Management LP acquired a new position in Alphabet in the first quarter valued at about $16,688,000. Markel Corp grew its stake in Alphabet by 17.0% in the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after acquiring an additional 2,250 shares during the period. United Bank grew its stake in Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after acquiring an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Alphabet by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after acquiring an additional 61,427 shares during the period. Finally, Dakota Wealth Management grew its stake in Alphabet by 20.4% in the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after acquiring an additional 1,570 shares during the period. 34.06% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Down 0.1 %

Shares of GOOGL opened at $122.76 on Monday. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $125.97. The stock has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 27.34, a PEG ratio of 1.56 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. The stock has a fifty day moving average of $106.43 and a 200-day moving average of $98.26.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The company had revenue of $69.79 billion during the quarter, compared to analysts’ expectations of $57.19 billion. During the same period in the prior year, the company earned $1.23 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ann Mather sold 380 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $90.05, for a total value of $34,219.00. Following the completion of the transaction, the director now directly owns 11,300 shares in the company, valued at approximately $1,017,565. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder 2019 Gp L.L.C. Gv sold 15,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $12.77, for a total transaction of $191,550.00. Following the completion of the transaction, the insider now directly owns 10,735,324 shares of the company’s stock, valued at approximately $137,090,087.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 380 shares of the stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $90.05, for a total value of $34,219.00. Following the sale, the director now owns 11,300 shares of the company’s stock, valued at $1,017,565. The disclosure for this sale can be found here. In the last ninety days, insiders bought 732,217 shares of company stock worth $21,135,371 and sold 601,450 shares worth $28,354,856. 0.88% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GOOGL. Truist Financial boosted their price target on Alphabet from $120.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Oppenheimer upped their target price on Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Morgan Stanley upped their target price on Alphabet from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, April 26th. Finally, Piper Sandler upped their price objective on Alphabet from $117.00 to $128.00 and gave the company an “overweight” rating in a research note on Wednesday, April 26th. Four research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $130.06.

Alphabet Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.