Stock Traders Purchase High Volume of Call Options on Google (GOOG)
Google (NASDAQ:GOOG) was the recipient of unusually large options trading on Friday. Stock investors acquired 25,147 call options on the company, AnalystRatingsNetwork.com reports. This is an increase of approximately 207% compared to the typical daily volume of 8,202 call options.
In other Google news, Chairman Eric Schmidt sold 63,819 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $879.25, for a total value of $56,112,855.75. Following the sale, 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 document filed with the SEC, which is available at this link.
A number of analysts have recently weighed in on GOOG shares. 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 equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. Google has a consensus rating of “Buy” and a consensus price target of $972.19.
Shares of Google (NASDAQ:GOOG) traded down 0.43% on Friday, hitting $872.35. 1,358,005 shares of the company’s stock traded hands. Google has a 52-week low of $636.00 and a 52-week 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 P/E ratio of 25.35.
Google (NASDAQ:GOOG) last posted its quarterly 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 last year, the company posted $10.12 earnings per share. Google’s revenue was up 18.6% compared to the same quarter last year. On average, analysts predict that Google will post $43.53 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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