Google CEO Sells $18,485,121 in Stock (GOOG)
Google (NASDAQ:GOOG) CEO Lawrence Page unloaded 20,833 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $887.30, for a total transaction of $18,485,120.90. Following the transaction, the chief executive officer now directly owns 85,000 shares of the company’s stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on GOOG. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Google (NASDAQ:GOOG) in a research note to investors on Friday, September 6th. They now have a $970.00 price target on the stock. Separately, analysts at Pivotal Research set a $870.00 price target on shares of Google (NASDAQ:GOOG) in a research note to investors on Thursday, September 5th. They now have a “hold” rating on the stock.
One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $968.87.
Google (NASDAQ:GOOG) traded up 0.85% during mid-day trading on Wednesday, hitting $896.19. 1,610,677 shares of the company’s stock traded hands. Google has a one year low of $636.00 and a one year high of $928.00. The stock’s 50-day moving average is $878.8 and its 200-day moving average is $856.8. The company has a market cap of $298.4 billion and a P/E ratio of 25.71. Google also was the target of some unusual options trading activity on Monday. Stock investors bought 18,742 call options on the company. This represents an increase of 445% compared to the average daily volume of 3,437 call options.
Google (NASDAQ:GOOG) last announced its earnings results on Thursday, July 18th. The company reported $9.56 EPS for the quarter, missing the Thomson Reuters consensus estimate of $10.78 by $1.22. The company had revenue of $14.11 billion for the quarter, compared to the consensus estimate of $14.42 billion. During the same quarter in the prior year, the company posted $10.12 earnings per share. The company’s quarterly revenue was up 18.6% on a year-over-year basis. On average, analysts predict that Google will post $43.57 earnings per share for the current fiscal year.
Google Inc (NASDAQ:GOOG) is a global technology company focused on improving the ways people connect with information.
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