Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) will release its financial results for the second quarter, after the closing bell on Tuesday.

Analysts expect the New York-based company to report quarterly earnings at $1.85 per share, up from $1.44 per share in the year-ago period. Alphabet is expected to post revenue of $84.20 billion, compared to $74.6 billion a year earlier, according to data from Benzinga Pro.

Alphabet's Google decided to abandon its long-standing plan to eliminate cookies in its Chrome browser, citing industry and regulatory pushback.

With the recent buzz around Alphabet, some investors may be eyeing potential gains from the company's dividends. As of now, Alphabet has a dividend yield of 0.44%, which is a quarterly dividend amount of 20 cents a share (80 cents a year).

To figure out how to earn $500 monthly from Alphabet, we start with the yearly target of $6,000 ($500 x 12 months).

Next, we take this amount and divide it by Alphabet's $0.80 dividend: $6,000 / $0.80 = 7,500 shares

So, an investor would need to own approximately $1,362,525 worth of Alphabet, or 7,500 shares to generate a monthly dividend income of $500.

Assuming a more conservative goal of $100 monthly ($1,200 annually), we do the same calculation: $1,200 / $0.80 = 1,500 shares, or $272,505 to generate a monthly dividend income of $100.

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Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.

The dividend yield is calculated by dividing the annual dividend payment by the current stock price. As the stock price changes, the dividend yield will also change.

For example, if a stock pays an annual dividend of $2 and its current price is $50, its dividend yield would be 4%. However, if the stock price increases to $60, the dividend yield would decrease to 3.33% ($2/$60).

Conversely, if the stock price decreases to $40, the dividend yield would increase to 5% ($2/$40).

Further, the dividend payment itself can also change over time, which can also impact the dividend yield. If a company increases its dividend payment, the dividend yield will increase even if the stock price remains the same. Similarly, if a company decreases its dividend payment, the dividend yield will decrease.

GOOGL Price Action: Shares of Alphabet gained 2.3% to close at $181.67 on Monday.

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