Alphabet Inc (GOOG) to Donate $5.3 Million in Chromebooks to Refugees

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While the world, particularly the United States continues to debate over the relocation of thousands of Syrian refugees, Alphabet Inc (NASDAQ:GOOG) is doing their own thing to help the situation. The company today announced that they will be donating $5.3 million to provide refugees with Chromebook laptops.

“Last fall, we shared how we’re supporting organizations on the frontline of providing essential humanitarian relief support. But we also wanted to do something to help with refugees’ long-term challenges, such as the need for access to information and education. So today, we’re making a $5.3 million Google.org grant to support the launch of Project Reconnect, a program by NetHope to equip nonprofits working with refugees in Germany with Chromebooks”, says Jacquelline Fuller, Director of Google.org.

The security, along with affordability and ease of use of Chromebooks make them perfect for this initiative. For those non-profits working with refugees, who are looking to take advantage of this Alphabet Inc (NASDAQ:GOOG) initiative, an application for consideration can be found here. The stock is up 0.33% or $2.39 following the news, hitting $727.64 per share. About 253,473 shares traded hands. GOOG has risen 35.12% since June 18, 2015 and is uptrending. It has outperformed the S&P500 by 43.99%.

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 $826 which is 13.52% above today’s ($727.64) stock price. Google Inc. was the topic of 38 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Pacific Crest maintained shares on December 21 with a “Overweight” rating. Pivotal Research maintained shares with a”Hold” rating and a $740 target share price in their report from an October 23. UBS maintained GOOG stock in a recent report from October 23 with a “Buy” rating. Credit Suisse maintained the rating on October 23. Credit Suisse has a “Outperform” rating and a $850 price target on shares. Finally, Needham maintained the stock with a “Buy” rating in a report they issued on an October 23.

The institutional sentiment decreased to 0.67 in Q2 2015. It’s down 0.53, from 1.2 in 2015Q2. The ratio turned negative, as 445 funds sold all their Alphabet Inc shares they owned while 412 reduced their positions. 109 funds bought stakes while 464 increased their total positions. Institutions now own 203.36 million shares which is 12.54% less than the previous share count of 232.53 million in 2015Q2.

Ancient Art L.P. holds 22.07% of its total portfolio in Alphabet Inc, equating to 213,887 shares. Jgp Global Gestao De Recursos Ltda. owns 38,052 shares representing 12.71% of their total US portfolio. Moreover, Cantillon Capital Management Llc has 11.84% of their total portfolio invested in the company, equating to 888,378 shares. The California-based Dalal Street Llc has a total of 11.16% of their portfolio invested in the stock. Glade Brook Capital Partners Llc, a Connecticut-based fund reported 50,799 shares owned.

Since February 25, 2015, the stock had 0 buys, and 33 sales for a total of $455.66 million in net activity. Brin Sergey sold 16,670 shares worth $10.24 million. Page Lawrence sold 16,670 shares worth $10.34M. Doerr L John sold 5,269 shares worth $3.33 million. Drummond David C sold 5,290 shares worth $3.39M. 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 $507.36 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 34.23 P/E ratio. These will be managed separately in Alphabet.