Alphabet shares shift as iA Global trims stake and Chicago Trust expands position

iA Global Asset Management Inc. reduced its Alphabet Inc. (NASDAQ: GOOG) holding by 10.3% in the first quarter, selling 65,933 shares and leaving a balance of 574,566 shares worth about $164.8 million, or roughly 2.3% of its portfolio.

Chicago Trust Co. NA increased its Alphabet position by 24.1% during the same period, acquiring an additional 9,096 shares for a total of 46,814 shares valued at approximately $13.4 million, representing about 2.1% of its holdings.

Overall, institutional investors and hedge funds own roughly 27.3% of Alphabet’s stock. The company reported Q4 earnings of $109.9 billion in revenue and $5.11 earnings per share, with its shares opening at $356.18 in early trading.