Google Chairman Unloads $1,600,842 in Stock (GOOG)
Google (NASDAQ:GOOG) Chairman Eric E. Schmidt sold 2,775 shares of the company’s stock on the open market in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $576.88, for a total transaction of $1,600,842.00. Following the sale, the chairman now directly owns 796 shares of the company’s stock, valued at approximately $459,196. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Barclays initiated coverage on shares of Google in a research note on Thursday. They set an “overweight” rating and a $650.00 price target on the stock. Separately, analysts at Nomura cut their price target on shares of Google from $700.00 to $675.00 in a research note on Wednesday, May 14th. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Google in a research note on Sunday, April 20th. They now have a $625.00 price target on the stock.
Shares of Google (NASDAQ:GOOG) traded down 0.56% during mid-day trading on Thursday, hitting $575.43. The stock had a trading volume of 1,387,008 shares. Google has a one year low of $502.80 and a one year high of $604.83. The stock’s 50-day moving average is $546. and its 200-day moving average is $543.3. The company has a market cap of $388.1 billion and a P/E ratio of 30.32. Google also saw unusually large options trading on Wednesday. Stock traders bought 18,142 call options on the stock. This represents an increase of 159% compared to the average daily volume of 6,999 call options.
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