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

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

Alphabet has a payout ratio of 9.2% meaning its dividend is sufficiently covered by earnings. 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

GOOG stock opened at $176.14 on Thursday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.18 trillion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.27 and a beta of 1.04. The company’s fifty day simple moving average is $163.56 and its 200 day simple moving average is $170.30. Alphabet has a 12-month low of $123.93 and a 12-month high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the prior year, the company earned $1.55 EPS. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, analysts expect that Alphabet will post 7.64 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 220,426 shares of company stock worth $35,993,340. 12.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GOOG has been the topic of several recent analyst reports. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. TD Cowen boosted their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. UBS Group boosted their price target on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday. Canaccord Genuity Group boosted their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

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.