Alphabet Inc. (GOOG) To Go Ex-Dividend on September 9th

Alphabet Inc. (NASDAQ:GOOG) declared a quarterly dividend on Wednesday, July 17th, Wall Street Journal reports. Shareholders of record on Monday, September 9th will be paid a dividend of 0.20 per share by the information services provider on Monday, September 16th. This represents a $0.80 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Monday, September 9th.

Alphabet has a payout ratio of 9.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Alphabet to earn $8.64 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 9.3%.

Alphabet Stock Down 4.1 %

Shares of Alphabet stock opened at $152.13 on Friday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company’s fifty day simple moving average is $172.50 and its two-hundred day simple moving average is $165.62. The company has a market cap of $1.88 trillion, a P/E ratio of 23.33, a PEG ratio of 1.22 and a beta of 1.05. Alphabet has a 12-month low of $121.46 and a 12-month high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.44 earnings per share. Research analysts anticipate that Alphabet will post 7.63 EPS for the current year.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the sale, the director now owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The disclosure for this sale can be found here. Insiders have sold 200,532 shares of company stock valued at $34,055,874 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of recent research reports. TD Cowen increased their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. Oppenheimer increased their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $182.86.

Alphabet Company Profile

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.