Elite Wealth Management Cuts Alphabet Stake

Elite Wealth Management Inc., a financial institution, has made adjustments to its holdings in Alphabet Inc. (NASDAQ:GOOGL). According to its most recent 13F filing with the Securities & Exchange Commission, the firm trimmed its position in shares of Alphabet by 3.2% in the first quarter. This change resulted in Elite Wealth Management owning 92,010 shares of Alphabet's stock after selling 3,042 shares during the period.

Alphabet accounts for approximately 8.6% of Elite Wealth Management Inc.'s holdings, making it the company's third-largest position. The firm's holdings in Alphabet were valued at $26,458,000 at the end of the most recent quarter.

This change is part of a broader trend in institutional investor activity surrounding Alphabet. Several other firms have also adjusted their positions in the company, including Brighton Jones LLC, which grew its holdings in Alphabet by 3.9% in the fourth quarter.