Alphabet Inc. (GOOGL) to Issue Quarterly Dividend of $0.20 on December 16th

Alphabet Inc. (NASDAQ:GOOGL) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Stockholders of record on Monday, December 9th will be given a dividend of 0.20 per share by the information services provider on Monday, December 16th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th.

Alphabet has a dividend payout ratio of 9.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Alphabet to earn $8.65 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 9.2%.

Alphabet Stock Down 0.2 %

Shares of Alphabet stock opened at $174.12 on Thursday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet has a 12 month low of $122.68 and a 12 month high of $191.75. The business has a fifty day simple moving average of $162.17 and a 200 day simple moving average of $168.78. The stock has a market cap of $2.15 trillion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the previous year, the company posted $1.55 earnings per share. Research analysts predict that Alphabet will post 7.65 EPS for the current year.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,426 shares of company stock worth $35,993,340. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GOOGL shares. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Argus lifted their target price on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Wolfe Research started coverage on Alphabet in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 target price on the stock. Citigroup lifted their target price on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $210.00 target price (up previously from $200.00) on shares of Alphabet in a research report on Wednesday. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.51.

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.