Peapack Gladstone Financial Corp Buys 1,035 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Peapack Gladstone Financial Corp raised its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 844,160 shares of the information services provider’s stock after buying an additional 1,035 shares during the quarter. Alphabet comprises approximately 2.0% of Peapack Gladstone Financial Corp’s investment portfolio, making the stock its 4th biggest holding. Peapack Gladstone Financial Corp’s holdings in Alphabet were worth $117,920,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Sonata Capital Group Inc. lifted its position in Alphabet by 5.1% during the 3rd quarter. Sonata Capital Group Inc. now owns 3,720 shares of the information services provider’s stock worth $487,000 after buying an additional 180 shares in the last quarter. Kellett Wealth Advisors LLC increased its holdings in Alphabet by 33.7% during the third quarter. Kellett Wealth Advisors LLC now owns 2,460 shares of the information services provider’s stock worth $322,000 after buying an additional 620 shares during the last quarter. WealthPlan Investment Management LLC raised its position in Alphabet by 17.0% during the third quarter. WealthPlan Investment Management LLC now owns 13,891 shares of the information services provider’s stock worth $1,818,000 after acquiring an additional 2,017 shares in the last quarter. Breakwater Capital Group raised its holdings in shares of Alphabet by 19.0% in the 3rd quarter. Breakwater Capital Group now owns 6,305 shares of the information services provider’s stock valued at $797,000 after purchasing an additional 1,005 shares during the period. Finally, ADE LLC acquired a new stake in Alphabet in the 3rd quarter valued at about $204,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total value of $3,973,050.00. Following the transaction, the chief executive officer now directly owns 2,235,511 shares of the company’s stock, valued at $394,746,532.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total value of $3,973,050.00. Following the completion of the transaction, the chief executive officer now directly owns 2,235,511 shares in the company, valued at $394,746,532.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 205,835 shares of company stock worth $32,177,952. 11.55% of the stock is currently owned by insiders.

Alphabet Price Performance

Alphabet stock opened at $175.41 on Thursday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.17 trillion, a PE ratio of 26.90, a P/E/G ratio of 1.31 and a beta of 1.01. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $178.77. The stock has a 50-day moving average price of $164.82 and a two-hundred day moving average price of $149.09.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period last year, the company earned $1.17 earnings per share. Analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.46%.

Analyst Ratings Changes

GOOGL has been the topic of several research analyst reports. Royal Bank of Canada upped their price objective on Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Robert W. Baird lifted their target price on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Barclays lifted their target price on Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Susquehanna lifted their target price on Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a research note on Monday, April 29th. Finally, Oppenheimer lifted their target price on Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.57.

Check Out Our Latest Analysis on Alphabet

About Alphabet

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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