Insider Selling: Google Chairman Unloads 10,209 Shares of Stock (GOOG)
Google (NASDAQ:GOOG) Chairman Eric Schmidt sold 10,209 shares of Google stock on the open market in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $1,016.65, for a total value of $10,378,979.85. Following the completion of the transaction, the chairman now directly owns 1,592 shares in the company, valued at approximately $1,618,507. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
GOOG has been the subject of a number of recent research reports. Analysts at Argus raised their price target on shares of Google from $1,065.00 to $1,210.00 in a research note to investors on Monday, October 21st. They now have a “buy” rating on the stock. Separately, analysts at Pivotal Research raised their price target on shares of Google from $870.00 to $880.00 in a research note to investors on Friday, October 18th. They now have a “hold” rating on the stock. Finally, analysts at Piper Jaffray Cos. raised their price target on shares of Google from $975.00 to $985.00 in a research note to investors on Friday, October 18th. They now have an “overweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirty have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $1,034.74.
Google (NASDAQ:GOOG) traded down 0.02% on Monday, hitting $1015.00. The stock had a trading volume of 1,166,400 shares. 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 $878.3 and its 200-day moving average is $858.. The company has a market cap of $339.2 billion and a P/E ratio of 27.62.
Google (NASDAQ:GOOG) last released its earnings data on Thursday, October 17th. The company reported $10.74 earnings per share for the quarter, beating the analysts’ consensus estimate of $10.36 by $0.38. The company had revenue of $14.89 billion for the quarter, compared to the consensus estimate of $14.79 billion. During the same quarter last year, the company posted $9.03 earnings per share. Google’s revenue was up 31.4% compared to the same quarter last year. Analysts expect that Google will post $44.13 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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