Alphabet Inc. Declares Quarterly Dividend of $0.20 (NASDAQ:GOOGL)

Alphabet Inc. (NASDAQ:GOOGL) announced 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 of this dividend is Monday, June 10th.

Alphabet has a payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 10.2 %

NASDAQ GOOGL traded up $15.95 during trading hours on Friday, reaching $171.95. The company’s stock had a trading volume of 64,665,299 shares, compared to its average volume of 25,802,202. The firm has a fifty day simple moving average of $147.85 and a 200-day simple moving average of $141.39. The stock has a market cap of $2.14 trillion, a P/E ratio of 26.37, a P/E/G ratio of 1.43 and a beta of 1.05. Alphabet has a 52 week low of $103.54 and a 52 week high of $174.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same quarter last year, the firm posted $1.05 EPS. Equities analysts forecast that Alphabet will post 6.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of 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 filing with the SEC, which is available through this hyperlink. Also, Director Frances Arnold sold 230 shares of the company’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 value of $35,433.80. Following the transaction, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 253,439 shares of company stock worth $36,746,578. 0.88% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday. Raymond James lifted their price objective on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday. JMP Securities lifted their price objective on shares of Alphabet from $160.00 to $200.00 and gave the stock a “market outperform” rating in a report on Friday. TD Cowen lifted their price objective on shares of Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Friday. Finally, Morgan Stanley lifted their target price on Alphabet from $165.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $187.82.

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.