Traders Purchase High Volume of Call Options on Google (GOOG)
Google (NASDAQ:GOOG) was the recipient of some unusual options trading on Tuesday. Stock investors purchased 23,775 call options on the company, StockRatingsNetwork.com reports. This is an increase of 158% compared to the typical volume of 9,198 call 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 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 in the company, valued at approximately $1,486,812. The sale was disclosed in a filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at RBC Capital raised their price target on shares of Google from $950.00 to $1,020.00 in a research note to investors on Thursday, October 3rd. They now have an “outperform” rating on the stock. Separately, analysts at SunTrust reiterated a “buy” rating on shares of Google in a research note to investors on Thursday, September 19th. Finally, analysts at CRT Capital initiated coverage on shares of Google 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 assigned a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $972.19.
Google (NASDAQ:GOOG) traded down 1.39% during mid-day trading on Tuesday, hitting $853.67. The stock had a trading volume of 1,943,703 shares. 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 $877.3 and its 200-day moving average is $866.3. The company has a market cap of $284.3 billion and a price-to-earnings ratio of 25.05.
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. 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.