Apple (AAPL) and Google parent-Alphabet (GOOGL) led all US companies in share buybacks during the second quarter, although overall buybacks fell nearly 22% from the previous quarter, according to the S&P Dow Jones indices. Meanwhile Microsoft (MSFT) and Facebook-parent Meta (META) also ranked among the top five in share buybacks.
Overall, second-quarter S&P 500 redemptions were $219.6 billion, down 21.8% from the first quarter’s record high of $281 billion.
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Information technology companies continued to lead the way in takeovers. Buyouts by financial companies fell 61% to $21.2 billion. Healthcare buybacks fell 58% to $17.2 billion.
Apple stock: $91.34 billion bought back
Apple repurchased $24.56 billion of its own stock in the second quarter, down about 4% from a year earlier. The iPhone maker has repurchased $91.34 billion worth of Apple stock over the past 12 months.
Alphabet repurchased $15.19 billion worth of Google stock during the second quarter, up about 19% from a year earlier. The internet search giant has repurchased $54.58 billion worth of Google stock over the past 12 months.
And Microsoft repurchased $8.76 billion of its own stock in the second quarter, up about 21% from a year earlier. The software giant has repurchased $32.69 billion worth of Microsoft stock over the past 12 months.
Takeovers of financial and health care companies fall
facebook-parent Meta-platforms (META) repurchased $6.2 billion of its own shares during the period, down about 26% from a year earlier. The social media giant has repurchased $53.27 billion of its own stock over the past 12 months.
Along with Apple stocks and the rest, three other tech companies were among the top 10 buyouts. They understood the chipmaker Nvidia (The), Amazon.com (AMZN) and Charter Communications (ChTR).
The top 20 companies accounted for 46.8% of takeovers in the second quarter.
From a shareholder perspective, Apple stock buybacks and other buybacks boost earnings by reducing shares outstanding. Apple shares climbed 1.6% to close at 156.90 in the stock market today.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.
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