Aletheian Wealth Advisors LLC Sells 11,080 Shares of Alphabet Inc. (NASDAQ:GOOGL)
Aletheian Wealth Advisors LLC, an investment management firm, reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 11,080 shares during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 116,431 shares of the technology giant after selling the shares, valued at $1.87 million, during the quarter.
This transaction marks a decrease of approximately 9.5% in Aletheian Wealth Advisors LLC's stake in Alphabet Inc. The firm now accounts for less than 0.01% of the company's total outstanding shares, down from 0.01% at the end of the first quarter.
The sale of Alphabet Inc. shares is part of a broader trend of institutional investors reducing their exposure to the technology sector. In recent months, several other investment firms have sold off large blocks of shares in major tech companies, citing concerns about the sector's valuation and growth prospects.
Alphabet Inc. shares have underperformed the broader market over the past year, declining by approximately 20% compared to a 10% gain in the S&P 500 index. The company has been hurt by concerns about slowing advertising revenue growth and increased competition from rivals such as Microsoft and Amazon.
Despite the recent sell-off, Alphabet Inc. remains one of the most valuable companies in the world, with a market capitalization of over $1 trillion. The company is expected to continue to generate strong revenue and earnings growth in the coming years, driven by its dominant position in the search and advertising markets.
Here are some of the key points from the Aletheian Wealth Advisors LLC's Form 13F filing:
- The firm sold 11,080 shares of Alphabet Inc. (NASDAQ:GOOGL) during the second quarter.
- The firm now owns 116,431 shares of Alphabet Inc., valued at $1.87 million.
- The sale of Alphabet Inc. shares is part of a broader trend of institutional investors reducing their exposure to the technology sector.
- Alphabet Inc. shares have underperformed the broader market over the past year.
- Alphabet Inc. remains one of the most valuable companies in the world, with a market capitalization of over $1 trillion.
