apple (AAPL) and the father of Google-the alphabet (google) led all US companies in share buybacks during the second quarter, although total buybacks were down nearly 22% from the previous quarter, according to S&P Dow Jones Indices. while, Microsoft (MSFT) and parent facebook dead (dead) is also among the top five in share buybacks.
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Overall, the S&P 500 repurchases in the second quarter were $219.6 billion, down 21.8% from the first-quarter record of $281 billion.
“Finance has fallen significantly on buybacks ($21.2 billion from $54.7 billion in the first quarter),” S&P analyst Howard Silverblatt said in an email. Silverblatt said some companies may be slowing buybacks to protect dividends.
“It appears that the decline in participation is due to economic concerns – specifically forward earnings,” he added.
IT companies continued to lead in buybacks. Repurchases by financial firms fell 61% to $21.2 billion. Healthcare buybacks fell 58% to $17.2 billion.
Compared to the same period a year earlier, the second quarter in 2021, buybacks increased by 10%.
Apple stock: $91.34 billion repurchased
Apple repurchased $24.56 billion of its stock in the second quarter, down about 4% from a year earlier. The iPhone maker has bought back $91.34 billion of Apple stock in the past 12 months.
Alphabet repurchased $15.19 billion of Google stock during the second quarter, up about 19% from the previous year. The internet search giant has repurchased $54.58 billion of Google shares over the past 12 months.
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Microsoft repurchased $8.76 billion of its stock in the second quarter, up about 21% from the previous year. The software giant has repurchased $32.69 billion of Microsoft stock in the past 12 months.
Decreased financial and healthcare buybacks
Facebook Parent meta pads (deadIt repurchased $6.2 billion of its own stock during the period, down about 26% from the previous year. The social networking giant has repurchased $53.27 billion of its stock in the past 12 months.
Besides Apple and other stocks, three other tech companies were among the top 10 buybacks. Among them was the chip maker nvidia (NVDA), Amazon.com (AMZN) And the Communication Charter (CHTR).
The 20 largest companies accounted for 46.8% of buybacks in the second quarter.
From the shareholder’s perspective, Apple stock buybacks and other buybacks increase profits by reducing outstanding shares.
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