Eastern Bank Sells 12,380 Shares of Alphabet Inc. $GOOGL

Eastern Bank has reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.6%, selling 12,380 shares and retaining 751,855 shares valued at $235.33 million, making Alphabet its fifth-largest holding. Meanwhile, institutional investors now own 40.03% of the company, with various firms increasing their positions. Despite some insider selling, analysts maintain a “Moderate Buy” rating with an average price target of $367.33, citing AI and cloud opportunities alongside regulatory risks and significant AI capital expenditure.

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