Alphabet Inc. (GOOG) to Issue Quarterly Dividend of $0.22 on September 14th

Alphabet Inc. (NASDAQ:GOOG) announced a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Monday, September 7th will be paid a dividend of 0.22 per share by the information services provider on Monday, September 14th. This represents a c) dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th.

Alphabet has a payout ratio of 8.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Alphabet to earn $14.87 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 5.9%.

Alphabet Price Performance

Alphabet stock opened at $318.34 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $362.11 and a 200-day simple moving average of $337.51. The stock has a market cap of $3.86 trillion, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23. Alphabet has a 12-month low of $188.70 and a 12-month high of $404.47.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.87 by $6.24. Alphabet had a return on equity of 57.20% and a net margin of 54.77%.The firm had revenue of $119.80 billion for the quarter, compared to analyst estimates of $116.53 billion. During the same quarter in the prior year, the company posted $2.31 earnings per share. Alphabet’s revenue for the quarter was up 24.2% compared to the same quarter last year. Equities analysts expect that Alphabet will post 14.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GOOG shares. TD Cowen reaffirmed a “buy” rating and set a $475.00 price objective on shares of Alphabet in a research report on Thursday. Pivotal Research raised their target price on Alphabet from $470.00 to $475.00 and gave the stock a “buy” rating in a research report on Thursday. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Wednesday, April 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $395.00 price target (down from $445.00) on shares of Alphabet in a report on Thursday. Finally, JPMorgan Chase & Co. lowered their price target on Alphabet from $460.00 to $420.00 and set an “overweight” rating for the company in a report on Thursday. Five investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Buy” and an average price target of $410.09.

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.