Turn8 Private Wealth Cuts Stake in Alphabet by 7.4% Amid Growing Institutional Interest

Turn8 Private Wealth Inc., a financial services company, reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 7.4% during the second quarter, according to its latest Form 13F filing with the Securities and Exchange Commission.

The company owned 22,873 shares of Alphabet's stock after selling 1,829 shares during the period, which made up approximately 5.5% of Turn8 Private Wealth Inc.'s portfolio.

This is not an isolated incident; other institutional investors and hedge funds have also been adjusting their stakes in Alphabet. Brighton Jones LLC increased its position by 3.9% during the fourth quarter, while Revolve Wealth Partners LLC raised its holdings by 3.5% in the same period.

Alphabet's AI infrastructure and cloud growth remain key positives, with Google Cloud reportedly growing revenue by 82% year over year in the latest quarter.