Alphabet Inc. (NASDAQ:GOOG) Announces Quarterly Dividend of $0.20

Alphabet Inc. (NASDAQ:GOOG) declared a quarterly dividend on Tuesday, October 29th, Zacks reports. Stockholders of record on Monday, December 9th will be paid a dividend of 0.20 per share by the information services provider on Monday, December 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, December 9th.

Alphabet has a 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 Price Performance

Shares of NASDAQ GOOG opened at $176.14 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm has a market cap of $2.18 trillion, a PE ratio of 27.02, a PEG ratio of 1.27 and a beta of 1.04. Alphabet has a one year low of $123.93 and a one year high of $193.31. The firm has a fifty day moving average of $163.56 and a 200 day moving average of $170.30.

Alphabet (NASDAQ:GOOG) last released its quarterly 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. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, research analysts predict that Alphabet will post 7.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GOOG shares. Citigroup lifted their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday. TD Cowen raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Barclays upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Insider Activity

In related news, 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 transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 220,426 shares of company stock valued at $35,993,340. 12.99% of the stock is currently owned by corporate insiders.

About Alphabet

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.