Eastern Bank Trims Stake in Alphabet Inc.
Eastern Bank has reduced its stake in Alphabet Inc., the parent company of Google. According to the bank's latest 13F filing with the Securities and Exchange Commission, it lowered its holdings by 2.2% during the second quarter.
The fund now owns 749,066 shares of Alphabet's stock after selling 16,926 shares during the period. This represents about 4.1% of Eastern Bank's total holdings, making Alphabet its third-largest holding, worth approximately $267.69 million as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in Alphabet. Brighton Jones LLC increased its holdings by 3.9% in the fourth quarter and now owns 110,330 shares valued at $20,886,000. Revolve Wealth Partners LLC boosted its stake by 3.5% during the same period.
Despite these changes, institutional investors still hold a significant portion of Alphabet's stock, with about 40.03% currently owned. The company has seen positive sentiment in recent news, including raising its 2026 capital-expenditure outlook to approximately $205 billion and growing Google Cloud revenue by 82% year over year.