Alphabet is drawing fresh attention as two pressure points meet at once: a paused buyback program and a weakening GOOG chart. The stock’s next move may depend on whether buyers defend the $350 to $360 zone while investors watch how RSU issuance affects share count.
Google Stock - Alphabet Buyback Pause Raises New Share Dilution Question
Alphabet’s latest share activity has added a new issue to the Google stock forecast: whether employee stock awards will start to weigh more on earnings per share if buybacks stay paused.
A chart shared by Andy Constan on X showed Google’s quarterly equity “raises,” including restricted stock unit awards, across the company’s public history. His point was not that employee share awards are new. Google has used stock compensation for years. The new concern is the shift from reducing share count to allowing more shares to enter the market.
Alphabet Quarterly Equity Raises. Source: Andy Constan on X
Alphabet said it made no Class A or Class C share repurchases in the first quarter of 2026. The company still had $69.5 billion left under its buyback authorization as of March 31, but it did not use that program during the quarter.
That pause matters because buybacks often help offset RSU dilution. When employees receive shares and sell them into the market, the share count can rise unless the company repurchases enough stock to balance it. A higher share count can reduce earnings per share, even when net income grows.
Alphabet’s business results still show strong growth. The company reported $109.9 billion in first-quarter revenue, up from $90.2 billion a year earlier. Google Services remained the main driver, while Google Cloud also continued to expand.
However, stock-based compensation remains a large part of Alphabet’s cost structure. In 2025, the company reported $27.1 billion in total stock-based compensation expense. Of that amount, $24.1 billion related to awards expected to settle in Alphabet stock.
Alphabet also had 534 million Class C shares reserved for future issuance under its 2021 stock plan at the end of 2025. In the first quarter of 2026, the company granted 90 million RSUs, while 44 million vested.
For investors, the issue is now more about capital allocation than employee equity alone. Alphabet can keep growing revenue and still face pressure if the share count moves higher. That makes buybacks, RSU issuance and diluted share count key numbers to watch in the next Google stock forecast.
The main question is clear: Will Alphabet restart buybacks enough to offset employee stock awards, or will shareholders see more dilution while the company spends heavily on AI, infrastructure and long-term growth?
Alphabet Pulls Back as GOOG Traders Watch $350 Gap Zone
Alphabet shares fell near a key chart area after a sharp May rally lost momentum.
A GOOG daily chart shared by DadHustleHQ on X showed Alphabet trading near $365.49, down 2.91%. The chart marked a possible support zone near the mid-$350 range, with the trader saying it was “too early to jump into GOOG” and pointing to $350 as the area to watch.
GOOG Daily Chart. Source: DadHustleHQ on X
The chart shows Alphabet climbing strongly from early April into May. GOOG moved from below $280 to around $400 before sellers stepped in. After that move, the stock started pulling back toward a white-box area between roughly $350 and $360.
That zone matters because the chart marks it as a possible gap area. Traders often watch gaps because prices can return to those levels before finding support. In this case, the $350 area may become the next important test if selling continues.
The screenshot also shows GOOG trading below short-term moving averages after the recent drop. That shift signals weaker near-term momentum. However, the stock remains above longer-term support levels shown on the chart, including the 50-day moving average area and a lower trend line.
Volume also increased during the latest red candle. That suggests stronger selling activity during the pullback. Still, one heavy-volume session does not confirm a full trend change by itself.
The setup now depends on how GOOG reacts near the marked support zone. A clean hold above the mid-$350s could show buyers are still active after the May rally. A move below that area may bring the $350 gap level into sharper focus.
For a Google stock forecast, the chart points to a simple technical question: whether Alphabet can defend the $350 to $360 area after its recent rally, or whether the pullback needs more time before buyers return.
