Alphabet Inc. (NASDAQ:GOOGL) is Peapack Gladstone Financial Corp's 4th Largest Position

Peapack Gladstone Financial Corp raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 835,342 shares of the information services provider's stock after acquiring an additional 2,094 shares during the period. Alphabet makes up 2.3% of Peapack Gladstone Financial Corp's portfolio, making the stock its 4th biggest holding. Peapack Gladstone Financial Corp's holdings in Alphabet were worth $158,131,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of Alphabet by 3.1% during the third quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider's stock valued at $1,871,384,000 after purchasing an additional 337,031 shares during the period. Garden State Investment Advisory Services LLC boosted its stake in Alphabet by 30.1% during the third quarter. Garden State Investment Advisory Services LLC now owns 13,536 shares of the information services provider's stock worth $2,246,000 after buying an additional 3,132 shares in the last quarter. Hollow Brook Wealth Management LLC lifted its holdings in shares of Alphabet by 3.5% during the 3rd quarter. Hollow Brook Wealth Management LLC now owns 46,898 shares of the information services provider's stock worth $7,778,000 after acquiring an additional 1,578 shares during the period. Hilltop Holdings Inc. boosted its position in shares of Alphabet by 59.6% during the 3rd quarter. Hilltop Holdings Inc. now owns 76,087 shares of the information services provider's stock valued at $12,619,000 after acquiring an additional 28,423 shares in the last quarter. Finally, Harmony Asset Management LLC raised its position in Alphabet by 2.7% in the third quarter. Harmony Asset Management LLC now owns 51,749 shares of the information services provider's stock worth $8,583,000 after purchasing an additional 1,362 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

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Alphabet Stock Performance

Shares of NASDAQ:GOOGL traded down $3.07 during trading on Tuesday, hitting $156.00. 17,462,183 shares of the company were exchanged, compared to its average volume of 28,182,383. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The stock has a 50 day moving average of $167.87 and a 200 day moving average of $176.28. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market cap of $1.90 trillion, a PE ratio of 19.38, a P/E/G ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.51%. The ex-dividend date was Monday, March 10th. Alphabet's payout ratio is 9.94%.

Wall Street Analyst Weigh In

GOOGL has been the subject of several analyst reports. Citigroup cut their target price on Alphabet from $229.00 to $195.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Needham & Company LLC restated a "buy" rating and issued a $225.00 price target on shares of Alphabet in a research report on Wednesday, February 5th. Wolfe Research increased their price target on Alphabet from $220.00 to $230.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Morgan Stanley reduced their price objective on Alphabet from $215.00 to $210.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. Finally, DZ Bank cut shares of Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price objective for the company. in a research report on Thursday, February 6th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $204.72.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $161.90, for a total transaction of $32,380.00. Following the sale, the director now owns 7,613 shares in the company, valued at $1,232,544.70. This trade represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. This trade represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 118,497 shares of company stock worth $20,837,150 in the last three months. Corporate insiders own 11.55% of the company's stock.

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.