GOOGL - Forget the New Dividend. Here's Why I'm Buying Alphabet Stock.
2024-05-08 07:01:00 ET
Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) became the latest tech company to announce a dividend. For shareholders on record June 10, Alphabet will pay a $0.20-per-share dividend, which is around a 0.5% yield when that dividend is annualized.
While some investors are thrilled about this announcement, it's a moot point for me. Instead, I'm looking at how strong Alphabet's business looked in Q1 and realizing that Alphabet is still a growth stock to be reckoned with.
At face value, Alphabet's Q1 was awesome. Revenue rose 15% year over year to $80.5 billion, and earnings per share (EPS) rose 62% to $1.89. But when you break it down, there were some even more impressive results hidden within those figures.
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Forget the New Dividend. Here's Why I'm Buying Alphabet Stock.