Investors Purchase Large Volume of Google Put Options (GOOG)
Google (NASDAQ:GOOG) was the recipient of unusually large options trading activity on Friday. Traders purchased 22,207 put options on the company, American Banking & Market News reports. This is an increase of 206% compared to the average volume of 7,254 put options.
In other Google news, Chairman Eric Schmidt sold 63,819 shares of Google stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $879.25, for a total transaction of $56,112,855.75. Following the completion of 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 legal filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on GOOG. Analysts at RBC Capital raised their price target on shares of Google (NASDAQ:GOOG) from $950.00 to $1,020.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at SunTrust reiterated a “buy” rating on shares of Google (NASDAQ:GOOG) in a research note to investors on Thursday, September 19th. Finally, 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $972.19.
Google (NASDAQ:GOOG) traded down 0.43% on Friday, hitting $872.35. The stock had a trading volume of 1,358,454 shares. 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 $876.7 and its 200-day moving average is $864.7. The company has a market cap of $290.5 billion and a price-to-earnings ratio of 25.35.
Google (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, July 18th. The company reported $9.56 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $10.12 earnings per share. The company’s revenue for the quarter 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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