Alphabet Inc. $GOOGL Shares Sold by Bedell Frazier Investment Counselling LLC

Bedell Frazier Investment Counselling LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,582 shares of the information services provider’s stock after selling 184 shares during the period. Alphabet accounts for approximately 3.3% of Bedell Frazier Investment Counselling LLC’s investment portfolio, making the stock its 6th biggest position. Bedell Frazier Investment Counselling LLC’s holdings in Alphabet were worth $13,144,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Nuveen LLC bought a new position in Alphabet during the first quarter worth about $4,317,606,000. Vanguard Group Inc. raised its stake in Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after buying an additional 4,473,901 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Alphabet by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock worth $24,857,017,000 after acquiring an additional 4,224,497 shares during the last quarter. Finally, Amundi increased its holdings in shares of Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after acquiring an additional 3,537,173 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $320.02 on Friday. The company has a market cap of $3.86 trillion, a price-to-earnings ratio of 31.56, a PEG ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $328.83. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a fifty day moving average price of $269.25 and a 200-day moving average price of $219.18.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is presently 8.28%.

Insider Activity

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the sale, the director owned 4,516 shares in the company, valued at approximately $1,264,750.96. This trade represents a 11.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $296.64, for a total transaction of $9,640,800.00. Following the completion of the transaction, the chief executive officer directly owned 2,304,619 shares in the company, valued at $683,642,180.16. This trade represents a 1.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 225,072 shares of company stock worth $58,074,027. Insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GOOGL shares. Citizens Jmp raised their price target on Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, September 19th. BNP Paribas Exane began coverage on shares of Alphabet in a research report on Monday, November 24th. They issued an “outperform” rating and a $355.00 price objective on the stock. Rosenblatt Securities raised their target price on shares of Alphabet from $224.00 to $279.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Roth Capital upped their price target on shares of Alphabet from $210.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Finally, Truist Financial increased their price target on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $307.84.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.