Alphabet Inc. (NASDAQ:GOOGL – Get Free Report) declared a quarterly dividend on Wednesday, July 22nd. Shareholders of record on Monday, September 7th will be given a dividend of 0.22 per share by the information services provider on Monday, September 14th. This represents a c) annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, September 4th.
Alphabet has a dividend payout ratio of 8.7% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 7.1%
Shares of GOOGL stock traded down $24.40 during mid-day trading on Thursday, reaching $317.69. 69,110,670 shares of the stock traded hands, compared to its average volume of 32,519,820. The stock’s fifty day simple moving average is $366.14 and its two-hundred day simple moving average is $338.86. Alphabet has a 1-year low of $187.82 and a 1-year high of $408.61. The company has a market cap of $3.85 trillion, a price-to-earnings ratio of 24.23, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.
Analyst Upgrades and Downgrades
GOOGL has been the topic of a number of recent research reports. Wedbush reiterated an “outperform” rating and set a $445.00 price target on shares of Alphabet in a report on Thursday. Evercore lifted their target price on Alphabet from $400.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. BNP Paribas Exane raised their price objective on Alphabet from $390.00 to $420.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Dbs Bank upped their target price on Alphabet from $400.00 to $460.00 in a report on Thursday, May 7th. Finally, Piper Sandler reissued an “overweight” rating and set a $395.00 target price (down from $445.00) on shares of Alphabet in a research report on Thursday. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $416.02.
Get Our Latest Research Report on GOOGL
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.
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