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

Alphabet Inc. (NASDAQ:GOOGL) declared a quarterly dividend on Wednesday, July 17th, Wall Street Journal reports. Shareholders of record on Monday, September 9th will be paid a dividend of 0.20 per share by the information services provider on Monday, September 16th. This represents a $0.80 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Monday, September 9th.

Alphabet has a dividend payout ratio of 9.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Alphabet to earn $8.64 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 9.3%.

Alphabet Trading Down 4.0 %

NASDAQ:GOOGL opened at $150.92 on Friday. The firm has a market capitalization of $1.87 trillion, a P/E ratio of 23.15, a PEG ratio of 1.22 and a beta of 1.05. Alphabet has a one year low of $120.21 and a one year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company’s 50-day simple moving average is $170.86 and its 200 day simple moving average is $164.14.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the prior year, the business earned $1.44 EPS. As a group, analysts forecast that Alphabet will post 7.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on GOOGL shares. Jefferies Financial Group upped their price objective on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Wolfe Research started coverage on shares of Alphabet in a research note on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target on the stock. TD Securities increased their price objective on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Loop Capital restated a “hold” rating and issued a $170.00 target price on shares of Alphabet in a report on Wednesday, July 3rd. Finally, Cantor Fitzgerald initiated coverage on shares of Alphabet in a report on Thursday. They issued a “neutral” rating and a $190.00 price target for the company. Seven analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $202.81.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 178,032 shares of company stock valued at $29,854,224. 11.55% of the stock is currently owned by corporate insiders.

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.