Alphabet Inc. (GOOGL) To Go Ex-Dividend on June 8th

Alphabet Inc. (NASDAQ:GOOGL) announced a quarterly dividend on Monday, April 27th. Stockholders of record on Monday, June 8th will be given 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 of this dividend is Monday, June 8th. This is a 4.8% increase from Alphabet’s previous quarterly dividend of $0.21.

Alphabet has a dividend payout ratio of 8.7% indicating that its dividend is sufficiently covered by earnings. 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 Performance

GOOGL opened at $368.53 on Friday. The stock has a market cap of $4.47 trillion, a PE ratio of 28.11, a P/E/G ratio of 1.59 and a beta of 1.23. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet has a 1 year low of $162.00 and a 1 year high of $408.61. The stock’s 50 day simple moving average is $352.70 and its 200-day simple moving average is $327.81.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $2.47. The business had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. Sell-side analysts forecast that Alphabet will post 14.29 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GOOGL. China Renaissance boosted their price objective on Alphabet from $400.00 to $485.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Roth Mkm restated a “buy” rating on shares of Alphabet in a research report on Thursday, April 30th. Oppenheimer boosted their price objective on Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Loop Capital boosted their price objective on Alphabet from $355.00 to $490.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, Susquehanna restated a “positive” rating and set a $460.00 price objective (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $413.13.

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.