Alphabet Inc. (GOOGL) to Issue Quarterly Dividend of $0.20 on June 17th

Alphabet Inc. (NASDAQ:GOOGL) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Monday, June 10th will be given a dividend of 0.20 per share by the information services provider on Monday, June 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, June 10th.

Alphabet has a payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Alphabet to earn $7.78 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 10.3%.

Alphabet Price Performance

Shares of GOOGL traded up $15.95 during midday trading on Friday, reaching $171.95. The stock had a trading volume of 64,665,299 shares, compared to its average volume of 25,802,202. The company has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. Alphabet has a 12-month low of $103.54 and a 12-month high of $174.71. The company’s 50-day moving average is $147.85 and its 200 day moving average is $141.39. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. During the same period in the prior year, the business posted $1.05 EPS. On average, equities analysts predict that Alphabet will post 6.79 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold a total of 253,439 shares of company stock worth $36,746,578 in the last 90 days. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on GOOGL. Needham & Company LLC upped their price target on Alphabet from $160.00 to $210.00 and gave the company a “buy” rating in a research report on Friday. JMP Securities increased their target price on Alphabet from $160.00 to $200.00 and gave the stock a “market outperform” rating in a research report on Friday. KeyCorp increased their target price on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Finally, TD Cowen lifted their price target on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday. Five analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.82.

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.