Alphabet Inc. (NASDAQ:GOOG) Stock Position Decreased by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 525,667 shares of the information services provider’s stock after selling 9,546 shares during the quarter. Alphabet comprises approximately 1.5% of Peapack Gladstone Financial Corp’s holdings, making the stock its 10th biggest position. Peapack Gladstone Financial Corp’s holdings in Alphabet were worth $100,108,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC raised its stake in Alphabet by 6.8% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock valued at $3,094,000 after purchasing an additional 1,041 shares during the period. North Forty Two & Co. bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $281,000. Coldstream Capital Management Inc. boosted its position in shares of Alphabet by 14.4% during the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after acquiring an additional 14,738 shares during the last quarter. Requisite Capital Management LLC purchased a new position in Alphabet during the fourth quarter valued at $927,000. Finally, Nordea Investment Management AB increased its holdings in Alphabet by 10.9% in the 4th quarter. Nordea Investment Management AB now owns 7,184,399 shares of the information services provider’s stock valued at $1,384,039,000 after acquiring an additional 704,875 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the transaction, the director now owns 21,824 shares of the company’s stock, valued at approximately $4,142,195.20. This trade represents a 6.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 673 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at $2,377,014.99. The trade was a 4.21 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,797 shares of company stock worth $21,089,470. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Down 3.2 %

NASDAQ:GOOG opened at $147.74 on Friday. The company has a market cap of $1.80 trillion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04. Alphabet Inc. has a twelve month low of $147.54 and a twelve month high of $208.70. The stock has a fifty day simple moving average of $177.04 and a 200-day simple moving average of $178.43. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research analyst reports. Wedbush restated an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Rosenblatt Securities restated a “neutral” rating on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $200.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $208.65.

Alphabet Company Profile

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.