Peapack Gladstone Financial Corp increased its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 5.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,891 shares of the information services provider’s stock after acquiring an additional 1,208 shares during the period. Alphabet comprises about 1.3% of Peapack Gladstone Financial Corp’s investment portfolio, making the stock its 16th biggest position. Peapack Gladstone Financial Corp’s holdings in Alphabet were worth $25,848,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of GOOGL. Well Done LLC bought a new position in shares of Alphabet in the first quarter worth about $107,000. Emerald Investment Partners LLC bought a new position in shares of Alphabet in the second quarter worth about $137,000. Private Ocean LLC raised its stake in shares of Alphabet by 355.6% in the first quarter. Private Ocean LLC now owns 123 shares of the information services provider’s stock worth $127,000 after acquiring an additional 96 shares during the last quarter. Highlander Capital Management LLC raised its stake in shares of Alphabet by 333.3% in the first quarter. Highlander Capital Management LLC now owns 130 shares of the information services provider’s stock worth $133,000 after acquiring an additional 100 shares during the last quarter. Finally, Clearwater Capital Advisors LLC bought a new position in shares of Alphabet in the first quarter worth about $153,000. Institutional investors and hedge funds own 33.40% of the company’s stock.
GOOGL has been the subject of a number of recent research reports. Morgan Stanley reissued an “overweight” rating and set a $1,500.00 price target (down from $1,515.00) on shares of Alphabet in a research note on Wednesday, November 14th. Bank of America dropped their price target on shares of Alphabet from $1,390.00 to $1,350.00 and set a “buy” rating for the company in a research note on Friday, October 26th. Goldman Sachs Group dropped their price target on shares of Alphabet from $1,500.00 to $1,300.00 and set a “buy” rating for the company in a research note on Friday, October 26th. Macquarie reissued a “buy” rating and set a $1,250.00 price target on shares of Alphabet in a research note on Monday, August 27th. Finally, Pivotal Research dropped their price target on shares of Alphabet from $1,080.00 to $1,010.00 and set a “hold” rating for the company in a research note on Friday, October 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $1,333.29.
Shares of NASDAQ GOOGL opened at $1,030.45 on Wednesday. The company has a market cap of $714.96 billion, a P/E ratio of 32.15, a PEG ratio of 1.26 and a beta of 1.06. The company has a quick ratio of 4.10, a current ratio of 4.14 and a debt-to-equity ratio of 0.02. Alphabet Inc has a 52-week low of $984.00 and a 52-week high of $1,291.44.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, October 25th. The information services provider reported $13.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $10.54 by $2.52. The firm had revenue of $27.16 billion during the quarter, compared to analysts’ expectations of $27.32 billion. Alphabet had a net margin of 14.45% and a return on equity of 19.40%. As a group, equities research analysts predict that Alphabet Inc will post 45.24 earnings per share for the current year.
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Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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