Alphabet Inc. (NASDAQ:GOOGL) Stock Position Increased by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp boosted its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.1% in the 4th quarter, Holdings Channel reports. The firm owned 844,160 shares of the information services provider’s stock after purchasing an additional 1,035 shares during the period. Alphabet comprises about 2.0% of Peapack Gladstone Financial Corp’s portfolio, making the stock its 4th largest 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 have also recently added to or reduced their stakes in the stock. Rafferty Asset Management LLC increased its holdings in Alphabet by 11.8% in the 4th quarter. Rafferty Asset Management LLC now owns 632,198 shares of the information services provider’s stock valued at $88,312,000 after purchasing an additional 66,500 shares during the last quarter. Kodai Capital Management LP acquired a new stake in Alphabet in the 4th quarter valued at approximately $168,008,000. Premier Fund Managers Ltd grew its stake in shares of Alphabet by 66.0% in the fourth quarter. Premier Fund Managers Ltd now owns 83,650 shares of the information services provider’s stock worth $11,731,000 after acquiring an additional 33,250 shares in the last quarter. NEOS Investment Management LLC grew its stake in shares of Alphabet by 3.6% in the fourth quarter. NEOS Investment Management LLC now owns 159,238 shares of the information services provider’s stock worth $22,244,000 after acquiring an additional 5,464 shares in the last quarter. Finally, CWA Asset Management Group LLC grew its stake in shares of Alphabet by 15.7% in the fourth quarter. CWA Asset Management Group LLC now owns 51,813 shares of the information services provider’s stock worth $7,238,000 after acquiring an additional 7,015 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $175.41 on Thursday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52-week low of $115.35 and a 52-week high of $178.77. The business’s 50-day moving average price is $164.82 and its 200 day moving average price is $149.09. The firm has a market cap of $2.17 trillion, a P/E ratio of 26.90, a P/E/G ratio of 1.31 and a beta of 1.01.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same quarter in the previous year, the company earned $1.17 EPS. On average, equities research analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total transaction of $41,853.00. Following the completion of the sale, the director now directly owns 9,291 shares in the company, valued at approximately $1,296,187.41. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total transaction of $41,853.00. Following the completion of the sale, the director now directly owns 9,291 shares in the company, valued at approximately $1,296,187.41. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 205,835 shares of company stock valued at $32,177,952. 11.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GOOGL shares. Sanford C. Bernstein boosted their price target on shares of Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Canaccord Genuity Group boosted their price target on shares of Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Piper Sandler restated an “overweight” rating and issued a $200.00 price target (up previously from $160.00) on shares of Alphabet in a research note on Friday, April 26th. KeyCorp boosted their price target on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Finally, Needham & Company LLC boosted their price target on shares of Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $191.57.

Check Out Our Latest Research Report on GOOGL

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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