Alphabet Inc. (NASDAQ:GOOG) to Issue Quarterly Dividend of $0.21

Alphabet Inc. (NASDAQ:GOOG) declared a quarterly dividend on Thursday, November 6th. Shareholders of record on Monday, December 8th will be given a dividend of 0.21 per share by the information services provider on Monday, December 15th. This represents a c) dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th.

Alphabet has a dividend payout ratio of 8.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Alphabet to earn $10.23 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 8.2%.

Alphabet Stock Performance

Shares of GOOG stock traded down $7.85 on Friday, hitting $277.49. The company had a trading volume of 12,540,285 shares, compared to its average volume of 23,396,734. Alphabet has a twelve month low of $142.66 and a twelve month high of $291.93. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.36 trillion, a P/E ratio of 27.36, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a 50-day moving average price of $250.48 and a 200-day moving average price of $204.23.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same period last year, the company earned $2.12 earnings per share. Alphabet’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, equities research analysts predict that Alphabet will post 8.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GOOG has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Cantor Fitzgerald set a $310.00 target price on Alphabet and gave the company a “neutral” rating in a research report on Thursday, October 30th. Mizuho set a $325.00 price target on Alphabet in a research note on Thursday, October 30th. Cowen reiterated a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Finally, Oppenheimer raised their price objective on Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $324.81.

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.