Alphabet Inc. Stock Gains Attention as Institutions Adjust Holdings and Analysts Raise Target

Prestige Wealth Management Group LLC reduced its Alphabet Inc. (GOOGL) position by selling 3,911 shares in the first quarter, leaving it with 21,896 shares valued at about $6.3 million, roughly 1.2% of its portfolio. The State of Wyoming increased its stake, buying 4,450 shares to hold 29,955 shares worth approximately $8.6 million, also about 1% of its holdings.

Analyst Saken Ismailov of Freedom Capital Markets upgraded his outlook on Alphabet’s Google stock, assigning a buy rating and a new price target of $400 per share. The upgrade follows Alphabet’s Q2 earnings call, where the company announced a rise in capital expenditure for AI infrastructure to $205 billion by 2026. The stock opened at $333, down about 5.6% for the month and fell 7% after the earnings release, despite strong revenue results.