diff --git a/.github/.OwlBot.lock.yaml b/.github/.OwlBot.lock.yaml
index a5361a30a..6b83f060e 100644
--- a/.github/.OwlBot.lock.yaml
+++ b/.github/.OwlBot.lock.yaml
@@ -13,4 +13,4 @@
 # limitations under the License.
 docker:
   image: gcr.io/cloud-devrel-public-resources/owlbot-java:latest
-  digest: sha256:e62f3ea524b11c1cd6ff7f80362736d86c0056631346b5b106a421686fce2726
+  digest: sha256:9bf82029163bc06d58f56682afd1893a42ace3e04b0359accb86f79c6ecdc9f9
diff --git a/CHANGELOG.md b/CHANGELOG.md
index a16cd1463..01ac74db9 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,13 @@
 # Changelog
 
+## [1.123.5](https://github.com/googleapis/java-pubsub/compare/v1.123.4...v1.123.5) (2023-03-03)
+
+
+### Dependencies
+
+* Update dependency com.google.cloud:google-cloud-core to v2.12.0 ([#1509](https://github.com/googleapis/java-pubsub/issues/1509)) ([6f70d8a](https://github.com/googleapis/java-pubsub/commit/6f70d8a96577ac93647f4d13adc6b31889efeddf))
+* Update dependency com.google.cloud:google-cloud-shared-dependencies to v3.4.0 ([#1510](https://github.com/googleapis/java-pubsub/issues/1510)) ([0d0ece7](https://github.com/googleapis/java-pubsub/commit/0d0ece70f1527932abb04d9719de68a1367c5881))
+
 ## [1.123.4](https://github.com/googleapis/java-pubsub/compare/v1.123.3...v1.123.4) (2023-02-22)
 
 
diff --git a/README.md b/README.md
index 848c0e5ee..81f80fd2e 100644
--- a/README.md
+++ b/README.md
@@ -43,7 +43,7 @@ If you are using Maven without BOM, add this to your dependencies:
 <dependency>
   <groupId>com.google.cloud</groupId>
   <artifactId>google-cloud-pubsub</artifactId>
-  <version>1.123.3</version>
+  <version>1.123.4</version>
 </dependency>
 
 ```
@@ -51,20 +51,20 @@ If you are using Maven without BOM, add this to your dependencies:
 If you are using Gradle 5.x or later, add this to your dependencies:
 
 ```Groovy
-implementation platform('com.google.cloud:libraries-bom:26.8.0')
+implementation platform('com.google.cloud:libraries-bom:26.9.0')
 
 implementation 'com.google.cloud:google-cloud-pubsub'
 ```
 If you are using Gradle without BOM, add this to your dependencies:
 
 ```Groovy
-implementation 'com.google.cloud:google-cloud-pubsub:1.123.3'
+implementation 'com.google.cloud:google-cloud-pubsub:1.123.4'
 ```
 
 If you are using SBT, add this to your dependencies:
 
 ```Scala
-libraryDependencies += "com.google.cloud" % "google-cloud-pubsub" % "1.123.3"
+libraryDependencies += "com.google.cloud" % "google-cloud-pubsub" % "1.123.4"
 ```
 
 ## Authentication
diff --git a/google-cloud-pubsub-bom/pom.xml b/google-cloud-pubsub-bom/pom.xml
index 5fdca8729..035e9a1f3 100644
--- a/google-cloud-pubsub-bom/pom.xml
+++ b/google-cloud-pubsub-bom/pom.xml
@@ -3,7 +3,7 @@
   <modelVersion>4.0.0</modelVersion>
   <groupId>com.google.cloud</groupId>
   <artifactId>google-cloud-pubsub-bom</artifactId>
-  <version>1.123.4</version><!-- {x-version-update:google-cloud-pubsub:current} -->
+  <version>1.123.5</version><!-- {x-version-update:google-cloud-pubsub:current} -->
   <packaging>pom</packaging>
   <parent>
     <groupId>com.google.cloud</groupId>
@@ -52,17 +52,17 @@
       <dependency>
         <groupId>com.google.cloud</groupId>
         <artifactId>google-cloud-pubsub</artifactId>
-        <version>1.123.4</version><!-- {x-version-update:google-cloud-pubsub:current} -->
+        <version>1.123.5</version><!-- {x-version-update:google-cloud-pubsub:current} -->
       </dependency>
       <dependency>
         <groupId>com.google.api.grpc</groupId>
         <artifactId>grpc-google-cloud-pubsub-v1</artifactId>
-        <version>1.105.4</version><!-- {x-version-update:grpc-google-cloud-pubsub-v1:current} -->
+        <version>1.105.5</version><!-- {x-version-update:grpc-google-cloud-pubsub-v1:current} -->
       </dependency>
       <dependency>
         <groupId>com.google.api.grpc</groupId>
         <artifactId>proto-google-cloud-pubsub-v1</artifactId>
-        <version>1.105.4</version><!-- {x-version-update:proto-google-cloud-pubsub-v1:current} -->
+        <version>1.105.5</version><!-- {x-version-update:proto-google-cloud-pubsub-v1:current} -->
       </dependency>
     </dependencies>
   </dependencyManagement>
diff --git a/google-cloud-pubsub/pom.xml b/google-cloud-pubsub/pom.xml
index 7d441b631..d42a4605f 100644
--- a/google-cloud-pubsub/pom.xml
+++ b/google-cloud-pubsub/pom.xml
@@ -3,7 +3,7 @@
   <modelVersion>4.0.0</modelVersion>
   <groupId>com.google.cloud</groupId>
   <artifactId>google-cloud-pubsub</artifactId>
-  <version>1.123.4</version><!-- {x-version-update:google-cloud-pubsub:current} -->
+  <version>1.123.5</version><!-- {x-version-update:google-cloud-pubsub:current} -->
   <packaging>jar</packaging>
   <name>Google Cloud Pub/Sub</name>
   <url>https://github.com/googleapis/java-pubsub</url>
@@ -11,7 +11,7 @@
   <parent>
     <groupId>com.google.cloud</groupId>
     <artifactId>google-cloud-pubsub-parent</artifactId>
-    <version>1.123.4</version><!-- {x-version-update:google-cloud-pubsub:current} -->
+    <version>1.123.5</version><!-- {x-version-update:google-cloud-pubsub:current} -->
   </parent>
   <properties>
     <site.installationModule>google-cloud-pubsub</site.installationModule>
@@ -182,7 +182,7 @@
     <plugins>
       <plugin>
         <artifactId>maven-compiler-plugin</artifactId>
-        <version>3.10.1</version>
+        <version>3.11.0</version>
         <configuration>
           <source>1.8</source>
           <target>1.8</target>
diff --git a/grpc-google-cloud-pubsub-v1/pom.xml b/grpc-google-cloud-pubsub-v1/pom.xml
index 89c24da77..3a28a58e7 100644
--- a/grpc-google-cloud-pubsub-v1/pom.xml
+++ b/grpc-google-cloud-pubsub-v1/pom.xml
@@ -4,13 +4,13 @@
   <modelVersion>4.0.0</modelVersion>
   <groupId>com.google.api.grpc</groupId>
   <artifactId>grpc-google-cloud-pubsub-v1</artifactId>
-  <version>1.105.4</version><!-- {x-version-update:grpc-google-cloud-pubsub-v1:current} -->
+  <version>1.105.5</version><!-- {x-version-update:grpc-google-cloud-pubsub-v1:current} -->
   <name>grpc-google-cloud-pubsub-v1</name>
   <description>GRPC library for grpc-google-cloud-pubsub-v1</description>
   <parent>
     <groupId>com.google.cloud</groupId>
     <artifactId>google-cloud-pubsub-parent</artifactId>
-    <version>1.123.4</version><!-- {x-version-update:google-cloud-pubsub:current} -->
+    <version>1.123.5</version><!-- {x-version-update:google-cloud-pubsub:current} -->
   </parent>
   <dependencies>
     <dependency>
diff --git a/pom.xml b/pom.xml
index c0c9076be..2d93c8526 100644
--- a/pom.xml
+++ b/pom.xml
@@ -4,7 +4,7 @@
   <groupId>com.google.cloud</groupId>
   <artifactId>google-cloud-pubsub-parent</artifactId>
   <packaging>pom</packaging>
-  <version>1.123.4</version><!-- {x-version-update:google-cloud-pubsub:current} -->
+  <version>1.123.5</version><!-- {x-version-update:google-cloud-pubsub:current} -->
   <name>Google Cloud Pub/Sub Parent</name>
   <url>https://github.com/googleapis/java-pubsub</url>
   <description>
@@ -61,7 +61,7 @@
       <dependency>
         <groupId>com.google.cloud</groupId>
         <artifactId>google-cloud-shared-dependencies</artifactId>
-        <version>3.3.0</version>
+        <version>3.4.0</version>
         <type>pom</type>
         <scope>import</scope>
       </dependency>
@@ -69,17 +69,17 @@
       <dependency>
         <groupId>com.google.api.grpc</groupId>
         <artifactId>proto-google-cloud-pubsub-v1</artifactId>
-        <version>1.105.4</version><!-- {x-version-update:proto-google-cloud-pubsub-v1:current} -->
+        <version>1.105.5</version><!-- {x-version-update:proto-google-cloud-pubsub-v1:current} -->
       </dependency>
       <dependency>
         <groupId>com.google.api.grpc</groupId>
         <artifactId>grpc-google-cloud-pubsub-v1</artifactId>
-        <version>1.105.4</version><!-- {x-version-update:grpc-google-cloud-pubsub-v1:current} -->
+        <version>1.105.5</version><!-- {x-version-update:grpc-google-cloud-pubsub-v1:current} -->
       </dependency>
       <dependency>
         <groupId>com.google.cloud</groupId>
         <artifactId>google-cloud-pubsub</artifactId>
-        <version>1.123.4</version><!-- {x-version-update:google-cloud-pubsub:current} -->
+        <version>1.123.5</version><!-- {x-version-update:google-cloud-pubsub:current} -->
       </dependency>
 
       <!-- Test dependencies -->
diff --git a/proto-google-cloud-pubsub-v1/pom.xml b/proto-google-cloud-pubsub-v1/pom.xml
index 5ac370117..64b2bdf51 100644
--- a/proto-google-cloud-pubsub-v1/pom.xml
+++ b/proto-google-cloud-pubsub-v1/pom.xml
@@ -4,13 +4,13 @@
   <modelVersion>4.0.0</modelVersion>
   <groupId>com.google.api.grpc</groupId>
   <artifactId>proto-google-cloud-pubsub-v1</artifactId>
-  <version>1.105.4</version><!-- {x-version-update:proto-google-cloud-pubsub-v1:current} -->
+  <version>1.105.5</version><!-- {x-version-update:proto-google-cloud-pubsub-v1:current} -->
   <name>proto-google-cloud-pubsub-v1</name>
   <description>PROTO library for proto-google-cloud-pubsub-v1</description>
   <parent>
     <groupId>com.google.cloud</groupId>
     <artifactId>google-cloud-pubsub-parent</artifactId>
-    <version>1.123.4</version><!-- {x-version-update:google-cloud-pubsub:current} -->
+    <version>1.123.5</version><!-- {x-version-update:google-cloud-pubsub:current} -->
   </parent>
   <dependencies>
     <dependency>
diff --git a/samples/install-without-bom/pom.xml b/samples/install-without-bom/pom.xml
index aca3a3984..aa061a5ac 100644
--- a/samples/install-without-bom/pom.xml
+++ b/samples/install-without-bom/pom.xml
@@ -44,7 +44,7 @@
     <dependency>
       <groupId>com.google.cloud</groupId>
       <artifactId>google-cloud-pubsub</artifactId>
-      <version>1.123.3</version>
+      <version>1.123.4</version>
     </dependency>
     <!-- [END pubsub_install_without_bom] -->
 
@@ -80,7 +80,7 @@
     <dependency>
       <groupId>com.google.cloud</groupId>
       <artifactId>google-cloud-core</artifactId>
-      <version>2.11.0</version>
+      <version>2.12.0</version>
       <classifier>tests</classifier>
     </dependency>
     <dependency>
diff --git a/samples/snapshot/pom.xml b/samples/snapshot/pom.xml
index e9b28959b..a60e5c240 100644
--- a/samples/snapshot/pom.xml
+++ b/samples/snapshot/pom.xml
@@ -43,7 +43,7 @@
     <dependency>
       <groupId>com.google.cloud</groupId>
       <artifactId>google-cloud-pubsub</artifactId>
-      <version>1.123.4</version>
+      <version>1.123.5</version>
     </dependency>
     <!-- {x-version-update-end} -->
 
@@ -79,7 +79,7 @@
     <dependency>
       <groupId>com.google.cloud</groupId>
       <artifactId>google-cloud-core</artifactId>
-      <version>2.11.0</version>
+      <version>2.12.0</version>
       <classifier>tests</classifier>
     </dependency>
     <dependency>
diff --git a/samples/snippets/pom.xml b/samples/snippets/pom.xml
index 3b1b0f005..8cc2f75a6 100644
--- a/samples/snippets/pom.xml
+++ b/samples/snippets/pom.xml
@@ -94,7 +94,7 @@
     <dependency>
       <groupId>com.google.cloud</groupId>
       <artifactId>google-cloud-core</artifactId>
-      <version>2.11.0</version>
+      <version>2.12.0</version>
       <classifier>tests</classifier>
     </dependency>
     <!-- [END_EXCLUDE] -->
diff --git a/versions.txt b/versions.txt
index a2218b4ee..963b839a2 100644
--- a/versions.txt
+++ b/versions.txt
@@ -1,6 +1,6 @@
 # Format:
 # module:released-version:current-version
 
-google-cloud-pubsub:1.123.4:1.123.4
-grpc-google-cloud-pubsub-v1:1.105.4:1.105.4
-proto-google-cloud-pubsub-v1:1.105.4:1.105.4
+google-cloud-pubsub:1.123.5:1.123.5
+grpc-google-cloud-pubsub-v1:1.105.5:1.105.5
+proto-google-cloud-pubsub-v1:1.105.5:1.105.5