Alphabet Inc. (NASDAQ:GOOG) to Issue Quarterly Dividend of $0.22

Alphabet Inc. (NASDAQ:GOOG) declared a quarterly dividend on Monday, April 27th. Investors of record on Monday, June 8th will be paid a dividend of 0.22 per share by the information services provider on Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, June 8th. This is a 4.8% increase from Alphabet’s previous quarterly dividend of $0.21.

Alphabet has a payout ratio of 8.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Alphabet to earn $14.74 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 6.0%.

Alphabet Stock Down 1.0%

Shares of NASDAQ GOOG opened at $365.76 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. Alphabet has a 52 week low of $163.33 and a 52 week high of $404.47. The stock has a market capitalization of $4.43 trillion, a P/E ratio of 27.90, a PEG ratio of 1.58 and a beta of 1.22. The stock’s fifty day moving average is $350.06 and its 200 day moving average is $327.07.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.96 billion. During the same quarter last year, the business earned $2.81 earnings per share. Alphabet’s revenue was up 21.8% on a year-over-year basis. Sell-side analysts forecast that Alphabet will post 14.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GOOG shares. DZ Bank upgraded Alphabet to a “strong-buy” rating in a research report on Monday, February 16th. Oppenheimer raised their price target on Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. The Goldman Sachs Group restated a “buy” rating and issued a $450.00 price target on shares of Alphabet in a research report on Thursday, May 21st. Citigroup restated a “market outperform” rating on shares of Alphabet in a research report on Monday. Finally, Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Wednesday, April 15th. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of “Buy” and an average price target of $376.00.

Alphabet Company Profile

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.