Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) CEO Larry Page sold 33,332 Google shares in a transaction on Monday, September 8th. Page sold his stock at an average price of $595.14, for a total value of $19,837,206.48. After the transaction, Page owns 23,153,578 shares in the company valued at approximately $13,779,620,411, according to a filing with SEC.
One of best among S&P 500
A number of analysts have recently rated Google. Analysts at Evercore Partners maintain a Conviction-buy rating on the company in a research note on Friday. Stifel Nicolaus analysts initiated coverage on the stock and assigned it a Buy rating in a research note dated August 13th. They also set a price target of $700.00. Finally, analysts at Argus maintain a Buy rating on Google according to a July 21st investment letter. Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) has a consensus rating of Buy and a consensus price target of $668.80.
Google stands on the 11th spot in the current Standard&Poor’s 500 list, in terms of returns since IPO. After its August 19th, 2004 IPO the internet giant has gained 30.15% a year on average, according to Howard Silverblatt, strategist at S&P Dow Jones Indices. The shares have surged 1,293% since the IPO, according to Bespoke Investment Group.
Google shares were up 0.64% on Monday to close at $601.63, making a one-year increase of 36.67%. At present, the company is valued at $402.91 billion.
European Union antitrust authorities are looking to extract concession from Google Inc. as they are concluding a four-year antitrust investigation over the United States-based company’s search practices in Europe. Google could have to pay fines up to $6 billion.
EU antitrust commissioner Joaquin Almunia said in a recent interview on Bloomberg TV, “Some complainants have introduced new arguments, new data, new considerations.” Almunia added that the authorities need to analyze these and see if some solution can be reached. In last few months, companies like Deutsche Telekom AG and French and German publishers have all complained against Google, which is still working in close cooperation with the EU regulatory authorities.
Previously, one of the sources aware of the development said that European Union might order Google to amend the methods in which data from competing services are displayed along with its search results. Other changes are related to YouTube and other content.