On May 12, 2022, Google C (stock code: GOOG) announced the company's insider transactions: Sergey Brin, a shareholder holding more than 10% of the company's shares, sold 37,600 shares on May 12, 2022.
Larry Page, co-founder and current board member of Google's parent company Alphabet Inc., filed with the SEC after the market closed on a Friday in early February, showing that Page sold 13,889 Class C shares of GOOG. . The shares sold at a weighted average price of $2.920.53, raising $40.56 million, according to MarketWatch calculations.
Meanwhile, he sold 13,889 Class A shares on the open market at a weighted average price of $2,926.36, raising $40.64 million.
Previously, Google's parent company Alphabet announced that it would conduct a 20-to-1 split of its Class A, Class B and Class C shares. This stock split plan will be completed on July 15 this year. As of the close on July 1, Shareholders will receive an additional 19 shares for every 1 share.
On April 26, Alphabet's board of directors had authorized $70 billion worth of stock repurchases. This continues the company's trend of increasing share buybacks each year, nearly tripling the amount it bought in 2019.
With a spin-off imminent, why are shareholders selling a lot of stock?
The company's $70 billion repurchase of shares is a great benefit. Do shareholders have other views?
Or perhaps shareholder fears about the stock market in 2022 outweigh a string of positive moves from Google on the stock front.
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