GOOGL - Meet the Newest Dividend Stock in the Nasdaq 100. It Could Be a $4 Trillion Company by 2030 With Help From Artificial Intelligence.
2024-04-30 04:45:00 ET
Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) had more than $110 billion in cash and cash equivalents on its balance sheet at the end of 2023. The company is investing heavily in artificial intelligence, and capital expenditures are projected to climb 27% this year from a record $32 billion last year, according to Bloomberg.
However, several Wall Street analysts saw that cash pile as evidence that Alphabet was preparing to pay a dividend. Lo and behold, when the company reported first-quarter earnings results last week, management announced a dividend of $0.20 per share payable on June 17 to stockholders of record on June 10.
That makes Alphabet the newest dividend stock in the Nasdaq 100 , an index that tracks the 100 largest companies on the Nasdaq Stock Exchange . But investors shouldn't interpret that news to mean Alphabet lacks growth prospects. On the contrary, its market capitalization could reach $4 trillion by 2030, implying 90% upside.
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Meet the Newest Dividend Stock in the Nasdaq 100. It Could Be a $4 Trillion Company by 2030, With Help From Artificial Intelligence.