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Google CEO Larry Page Sold Close to $16 Million of Stocks
Posted by: GuruFocus (IP Logged)
Date: June 12, 2012 10:11PM
On June 11, 2012, Google (GOOG) CEO Larry Page sold 27,778 shares at an average price of $573.61. The total transaction amount is $15,933,738 Google has a market cap of $189.23 billion; its shares were traded at around $565.9 with a P/E ratio of 17.6 and P/S ratio of 5. Google had an annual average earnings growth of 51.9% over the past 10 years.
While in the Ph.D. program in computer science at Stanford University, Larry met Sergey Brin and together they developed and ran Google, which began operating in 1998. Larry Page was Google's founding CEO and grew the company to more than 200 employees and profitability before moving into his role as President, Products in April 2001.
Through February to March, Larry Page also sold 111,112 shares of GOOG stock. CFO & SVP Patrick Pichette sold 4,416 shares of GOOG stock from February to June. Other directors and officers have sold shares of GOOG stock. Co-Founder, 10% Owner Sergey Brin sold 83,334 shares of GOOG stock at the average price of 570.97 on June 5, 2012. On June 1, Director John L Hennessy sold 150 shares of GOOG stock at the average price of 571.24. Executive Chairman of Board Eric E Schmidt sold 29,568 shares of GOOG stock in the last two days of May.
GuruFocus gurus Andreas Halvorsen, Daniel Loeb, David Tepper, and Leon Cooperman, have initiated positions in GOOG. Other gurus, John Burbank, Lee Ainslie, Robert Karr, and Mario Gabelli, have increased their positions in GOOG. Fourteen Gurufocus gurus have kept their postitions in GOOG unchanged or slightly adjusted. Mark Hillman and Ron Baron have reduced their position in GOOG and 2 gurus, George Soros and Ken Heebner, have sold out their holdings in GOOG.
Google reported their 2012 first quarter financial results. It reported revenues of $10.65 billion, an increase of 24% compared to the first quarter of 2011. Net income for this quarter were $2.9 billion.
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Stocks Discussed: GOOG,