Thu Sep 19 09:00:39 UTC 2024: ## First Western Trust Bank Cuts Alphabet Holdings, Insider Sales Continue
**Denver, Colorado – September 19, 2024** – First Western Trust Bank has reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 13.5% during the second quarter, according to a recent SEC filing. The bank now holds 89,274 shares of the information services provider, valued at $16,261,000. This represents approximately 0.8% of the bank’s total holdings, making Alphabet its 11th largest position.
Other institutional investors have also made changes to their Alphabet holdings. Christopher J. Hasenberg Inc. increased its stake by 75.0%, while Kings Path Partners LLC acquired a new position. Meanwhile, Tributary Capital Management LLC and Vermillion & White Wealth Management Group LLC both purchased new stakes in the company.
However, insider sales at Alphabet continue. CAO Amie Thuener O’toole sold 682 shares on July 2nd for a total value of $125,126.54. This brings her total ownership down to 30,650 shares. Separately, insider John Kent Walker sold 21,467 shares on September 3rd, valued at $3,442,233.45, reducing his holdings to 39,334 shares.
Overall, insiders have sold 180,167 shares of Alphabet stock over the last 90 days, valued at $29,762,606. This represents 11.55% of the company’s total outstanding shares.
Despite the recent insider sales, Alphabet’s stock opened at $159.81 on Thursday. The company reported strong earnings in the second quarter, surpassing analysts’ estimates with earnings per share of $1.89 and revenue of $84.74 billion. Alphabet also declared a quarterly dividend of $0.20, payable on September 16th.
With a market capitalization of $1.97 trillion, Alphabet remains a dominant player in the tech industry. However, the recent institutional and insider sales suggest that some investors may be taking a more cautious approach to the stock.
First Piper 