Investors Purchase High Volume of Google Put Options (GOOG)
Google (NASDAQ:GOOG) saw unusually large options trading activity on Friday. Investors purchased 8,587 put options on the stock, StockRatingsNetwork.com reports. This represents an increase of 354% compared to the typical volume of 1,893 put options.
In other Google news, Chairman Eric Schmidt sold 63,819 shares of Google stock on the open market in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $879.25, for a total value of $56,112,855.75. Following the transaction, the chairman now directly owns 1,691 shares of the company’s stock, valued at approximately $1,486,812. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on GOOG. 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 investment analyst has rated the stock with a sell rating, ten have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $970.30.
Google (NASDAQ:GOOG) traded down 0.20% during mid-day trading on Friday, hitting $876.39. 1,258,822 shares of the company’s stock traded hands. Google has a 1-year low of $636.00 and a 1-year high of $928.00. The stock’s 50-day moving average is $877.1 and its 200-day moving average is $862.7. The company has a market cap of $291.9 billion and a P/E ratio of 25.41.
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 last year, the company posted $10.12 earnings per share. Google’s revenue was up 18.6% compared to the same quarter last year. 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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