Waverton Investment Management Sells Alphabet (GOOG) Shares

Waverton Lightbulb and Waverton UK Smaller Companies reduce stake in technology giant

Investment Management firms sold 992,620 Alphabet Shares

Waverton Investment Management, which manages the Waverton Lightbulb Fund and the Waverton UK Smaller Companies Fund, has sold 992,620 shares in Alphabet Inc. (NASDAQ: GOOG), the parent company of Google, YouTube, and other technology businesses.

According to a filing with the U.S. Securities and Exchange Commission (SEC), Waverton Investment Management sold the shares on January 19, 2023. The shares were sold at an average price of $99.98 per share, for a total of $99.2 million.

The sale represents a significant reduction in Waverton Investment Management's stake in Alphabet. Prior to the sale, Waverton Investment Management owned 1,448,814 shares of Alphabet, or about 0.02% of the company's outstanding shares. After the sale, Waverton Investment Management owns 456,194 shares of Alphabet, or about 0.01% of the company's outstanding shares.

The reason for the sale is not known. Waverton Investment Management did not immediately respond to a request for comment.

Alphabet's stock price has been volatile in recent months. The stock reached a high of $130.86 in November 2021, but has since fallen to around $99.98 per share.

Despite the recent decline in its stock price, Alphabet remains a dominant player in the technology industry. The company's search engine, Google, is the most popular website in the world. YouTube, its video-sharing platform, is also one of the most popular websites in the world.

Alphabet also has a number of other businesses, including cloud computing, hardware, and self-driving cars. The company is expected to continue to grow in the coming years as these businesses mature.