Alphabet Inc. $GOOG Holdings Lifted by Teacher Retirement System of Texas

Key Points

• Teacher Retirement System of Texas increased its stake in Alphabet by 7.6% to 1,486,956 shares worth about $466.6 million, making GOOG its 8th-largest holding (1.6% of the fund).
• Record Q1 results: Alphabet posted EPS of $5.11 and $109.9 billion in revenue, with Google Cloud growing ~63% to roughly $20 billion, prompting multiple analyst price-target raises.
• Large AI-driven capex risk: Management forecast very large capital spending (~$185–190B in 2026 and “significantly higher” in 2027) that supports growth but could pressure free cash flow and increase execution/regulatory scrutiny.

Teacher Retirement System of Texas increased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,486,956 shares of the information services provider's stock after purchasing an additional 104,687 shares during the period. Alphabet accounts for 1.6% of Teacher Retirement System of Texas' holdings, making the stock its 8th biggest holding. Teacher Retirement System of Texas' holdings in Alphabet were worth $466,607,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Imprint Wealth LLC purchased a new position in Alphabet in the 3rd quarter worth approximately $31,000. Manning & Napier Advisors LLC purchased a new position in Alphabet in the 3rd quarter worth approximately $32,000. Tripletail Wealth Management LLC purchased a new position in Alphabet in the 3rd quarter worth approximately $40,000. Towne Trust Company N.A lifted its holdings in Alphabet by 34.0% in the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock worth $42,000 after purchasing an additional 34 shares in the last quarter. Finally, Lynch Asset Management Inc. purchased a new position in Alphabet in the 3rd quarter worth approximately $61,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Record Q1 fundamentals — Alphabet beat estimates (EPS $5.11 vs. $2.64 consensus) and reported $109.9B revenue; Google Cloud grew ~63% to ~ $20B with a very large backlog, which underpins multi-year revenue visibility and explains the rally. Alphabet Q1 2026 Earnings Call Highlights
• Positive Sentiment: Wall Street is upgrading targets — multiple firms (JPMorgan, TD Cowen, Scotiabank, Raymond James, Piper Sandler and others) raised price targets and reiterated buys after the quarter, signaling analyst conviction that AI/cloud growth justifies higher valuation. Coverage: Recent price-target raises
• Positive Sentiment: Strategic wins and ecosystem advantages — articles argue Alphabet’s “compute” advantage (TPUs, datacenter scale, full‑stack Gemini integrations) gives it a structural edge versus rivals and supports both ad/product monetization and enterprise AI demand. Compute is destiny. Google just proved it.
• Neutral Sentiment: Government and enterprise demand — the U.S. Pentagon and other large customers have agreements with leading AI providers including Google, validating long-term cloud/AI revenue channels but timing and contract sizes vary. This supports durable demand but is not an immediate revenue kicker. Pentagon reaches agreements with leading AI companies
• Negative Sentiment: CapEx intensity and cash flow tradeoff — management signaled very large AI-related capital spending (2026 capex ~ $185–190B and “significantly higher” expected in 2027). That funds growth but will pressure free cash flow and raises execution/ROI scrutiny. Alphabet ups 2026 capex to as much as $190 billion
• Negative Sentiment: Rising cost concerns and regulatory risks — commentary highlights the growing capital and operating cost of AI (potential margin/cashflow headwinds), and regulators in Europe are probing Google’s AI/search features — both are watch‑items for investors. Google Stock Growth Collides With The Rising Cost Of AI Italy asks EU to investigate Google AI search tools

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total transaction of $10,006,425.00. Following the sale, the chief executive officer owned 1,642,060 shares in the company, valued at approximately $505,573,853.40. This represents a 1.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 617 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the sale, the chief accounting officer owned 10,093 shares in the company, valued at $2,923,235.59. The trade was a 5.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 191,986 shares of company stock worth $59,159,207 in the last ninety days. Corporate insiders own 12.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GOOG. Needham & Company LLC set a $400.00 price target on Alphabet and gave the stock a "buy" rating in a report on Friday, March 13th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Alphabet in a report on Monday, April 20th. Scotiabank reaffirmed an "outperform" rating and set a $450.00 price objective (up from $400.00) on shares of Alphabet in a report on Thursday. Canaccord Genuity Group upped their price objective on Alphabet from $330.00 to $390.00 and gave the stock a "buy" rating in a report on Wednesday, January 7th. Finally, KeyCorp set a $370.00 price objective on Alphabet in a report on Thursday, February 5th. Six analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $362.73.

Alphabet Stock Up 0.3%

Shares of GOOG opened at $383.22 on Friday. The stock has a market capitalization of $4.64 trillion, a price-to-earnings ratio of 29.23, a price-to-earnings-growth ratio of 2.36 and a beta of 1.25. Alphabet Inc. has a 1 year low of $149.49 and a 1 year high of $383.39. The business's 50 day simple moving average is $312.44 and its 200-day simple moving average is $308.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 2.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $2.43. The business had revenue of $109.90 billion for the quarter, compared to analysts' expectations of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company's revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.81 EPS. As a group, equities analysts expect that Alphabet Inc. will post 12.78 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, June 8th. This is a boost from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is currently 6.41%.

Alphabet Company Profile

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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