Alphabet draws fresh institutional buying and analyst upgrades amid AI‑driven growth

Alphabet (Google’s parent) reported strong financial results, with revenue of $109.9 billion and earnings per share of $5.11, beating forecasts. The company’s chief financial officer said capital expenditures will rise to $180‑$190 billion in 2026 to fund AI infrastructure, with further increases expected in 2027.

A wave of institutional investors altered their holdings in the fourth quarter. New positions were taken by Ketron Financial ($20.5 million), Nolet Wealth Management ($0.9 million) and others, while Chelsea Counsel Co. trimmed its stake by 6.6 %. Existing large holders such as Vanguard, State Street, JPMorgan and Morgan Stanley expanded their positions, collectively owning billions of dollars of Alphabet stock. Overall, roughly 40 % of the company’s shares are held by institutional investors.

Analyst sentiment remains broadly positive. Several firms raised price targets, including Wells Fargo to $435, Mizuho to $460 and Goldman Sachs to $450. Upgrades ranged from “buy” to “overweight,” reflecting confidence in Google Cloud’s accelerated growth and the company’s expanding AI and data‑center investments.