DAVENPORT & Co LLC Lowers Holdings in Alphabet Inc. $GOOGL

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DAVENPORT & Co LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 17.7% in the fourth quarter, selling over 170,000 shares, though Alphabet remains its 8th largest holding. Despite this, several analysts have raised price targets, maintaining a “Moderate Buy” consensus, and Alphabet recently announced a quarterly dividend. Insider selling has also occurred, with company insiders now owning 11.64% of the stock.

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