Insider Selling: Google Chairman Sells 80,012 Shares of Stock (GOOG)
Google (NASDAQ:GOOG) Chairman Eric Schmidt unloaded 80,012 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $886.91, for a total value of $70,963,442.92. Following the completion of the transaction, the chairman now directly owns 4,773 shares in the company, valued at approximately $4,233,221. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at SunTrust reiterated a “buy” rating on shares of Google (NASDAQ:GOOG) in a research note to investors on Thursday, September 19th. Separately, analysts at CRT Capital initiated coverage on shares of Google (NASDAQ:GOOG) in a research note to investors on Thursday, September 19th. They set a “buy” rating and a $1,090.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Google (NASDAQ:GOOG) in a research note to investors on Wednesday, September 18th. They now have a $930.00 price target on the stock.
One research analyst has rated the stock with a sell rating, ten have given a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. Google has a consensus rating of “Buy” and an average price target of $970.30.
Shares of Google (NASDAQ:GOOG) traded down 0.98% during mid-day trading on Wednesday, hitting $878.15. The stock had a trading volume of 1,308,161 shares. Google has a one year low of $636.00 and a one year high of $928.00. The stock has a 50-day moving average of $878.0 and a 200-day moving average of $862.5. The company has a market cap of $292.4 billion and a P/E ratio of 25.66. Google also was the recipient of unusually large options trading activity on Monday. Traders purchased 17,219 call options on the stock. This represents an increase of approximately 441% compared to the typical volume of 3,181 call options.
Google (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, July 18th. The company reported $9.56 earnings per share for the quarter, missing the analysts’ 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. Analysts expect that Google will post $43.53 EPS 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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