Google co-founder Sergey Brin sold 33, 332 shares of Google at an average of $562 for a total of $18, 743, 916, as reported by the Legacy.
Of analysts who cover the stock, 27 have a Buy rating, 11 have a Hold rating and one has a Strong Buy. In its January earnings report, Google missed earnings estimates by 24 cents, and its revenues came in at $14.50 compared to estimates of $18.48.
This week at the Mobile World Congress, Google management announced it would launch a wireless phone service in the coming months, as reported by Seeking Alpha. Some project that Google may take market share, even though it is entering a very competitive market. It hasn’t named a network, but it has deals with Sprint and T-Mobile.
Google, along with Facebook, has invested in research and innovative strategies to make the internet available in remote places. Its project Loon will bring internet access to new users through balloons. It has also invested in Solar City’s fund that will expand the reach of solar power. Google donated $300 million to a project that may bring solar energy to 11 states.