Alphabet Inc (NASDAQ:GOOG) is reportedly looking to expand upon their Youtube offerings by seeking streaming rights for popular television series and films according to the Wall Street Jounal. Reports say that the company is still in early stage talks with production firms to hopefully secure licensing deals that will be worth their while. If discussions go as they hope, Youtube could become a significant competitor to companies like Netflix (NFLX), Amazon.com (AMZN), and Hulu.The stock is down 0.76% or $5.82 following the news, hitting $756.56 per share. Approximately 748,569 shares traded hands. GOOG shares have risen 41.88% since April 30, 2015 and are currently uptrending. It has outperformed the S&P500 by 42.08%.
From a total of 28 analysts covering Google Inc. (NASDAQ:GOOG) stock, 24 rate it a “Buy”, 0 a “Sell”, and 4 a “Hold”. This means that 86% of the ratings are positive. The highest target price is $900 while the lowest target price is $700. The mean of all analyst targets is $825 which is 9.05% above today’s ($756.56) stock price. Google Inc. was the topic of 37 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Deutsche Bank maintained shares on October 23 with a “Buy” rating. Pivotal Research maintained shares with a”Hold” rating and a $740 target share price in their report from an October 23. Piper Jaffray maintained GOOG stock in a recent report from October 23 with a “Overweight” rating. Pacific Crest maintained the rating on October 23. Pacific Crest has a “Overweight” rating and a $820 price target on shares. Finally, Credit Suisse maintained the stock with a “Outperform” rating in a report they issued on an October 23.
The institutional sentiment increased to 1.2 in Q2 2015. It’s up 0.05, from 1.15 in 2015Q1. The ratio improved, as 78 funds sold all their Alphabet Inc shares they owned while 586 reduced their positions. 106 funds bought stakes while 691 increased their total positions. Institutions now own 232.53 million shares which is 33.46% less than the previous share count of 349.45 million in 2015Q1.
Zenit Asset Management Ab holds 19.07% of its total portfolio in Alphabet Inc, equating to 235,752 shares. Ancient Art L.P. owns 115,300 shares representing 13.64% of their total US portfolio. Moreover, Kenmare Capital Partners L.L.C. has 11.02% of their total portfolio invested in the company, equating to 29,725 shares. The New York-based Farley Capital Ii L.P. has a total of 8% of their portfolio invested in the stock. Two Creeks Capital Management Lp, a New York-based fund reported 150,802 shares owned.
Since February 25, 2015, the stock had 0 insider buys, and 60 selling transactions for a total of $785.52 million in net activity. Brin Sergey sold 16,670 shares worth $10.24M. Page Lawrence sold 16,670 shares worth $10.34 million. Doerr L John sold 5,269 shares worth $3.33 million. Drummond David C sold 5,290 shares worth $3.39 million. The insider Mather Ann sold 6,000 shares worth $3.48M.
Alphabet Inc is a collection of Companies. The company has a market cap of $526.35 billion. The Company’s collection include Calico, Google’s health and longevity effort; Nest its connected home business; Fiber, its gigabit internet arm; and its investment divisions such as Google Ventures and Google Capital, and incubator projects, such as Google X. It has 35.59 P/E ratio. These will be managed separately in Alphabet.