Alphabet Inc. $GOOGL Shares Sold by Congress Asset Management Co.

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Congress Asset Management Co. reduced its stake in Alphabet Inc. by 1.6% in the fourth quarter, selling 17,574 shares, though Alphabet remains its third-largest holding. Despite this sale and recent insider selling, Alphabet continues to receive positive analyst sentiment, with many raising price targets after the company beat quarterly earnings expectations. The stock has seen a recent technical correction and faces legal/regulatory challenges related to AI features and social media addiction lawsuits, but its fundamentals, AI innovation, and cloud growth remain strong.

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