Apple, Google Repurchases Top US Companies As Repurchases Fall Nearly 22%

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Apple (AAPL) and Google parentAlphabet (GOOGL) led all US companies in share buybacks in the second quarter, although total buybacks fell nearly 22% from the previous quarter, according to S&P Dow Jones Indices. In the meantime, Microsoft (MSFT) and Facebook Parent meta (META) was also among the top five share buybacks.




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Overall, S&P 500 buybacks were $219.6 billion in the second quarter, down 21.8% from the record $281 billion in the first quarter.

Information technology companies continued to lead the way in buybacks. Repurchases by financial firms fell 61% to $21.2 billion. Healthcare procurement fell 58% to $17.2 billion.

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Apple Stock: $91.34 Billion Repurchased

Apple repurchased $24.56 billion of its own shares in the second quarter, about 4% less than a year earlier. The iPhone maker has repurchased $91.34 billion worth of Apple stock in the past 12 months.

Alphabet bought back $15.19 billion worth of Google shares in the second quarter, an increase of about 19% from a year earlier. The internet search giant has bought back $54.58 billion worth of Google stock in the past 12 months.

And Microsoft repurchased $8.76 billion of its own shares in the second quarter, up about 21% from a year earlier. The software giant has repurchased $32.69 billion worth of Microsoft shares in the past 12 months.

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Financial buybacks, health care disappointing

Facebook parent Metaplatforms (META) bought back $6.2 billion of its own shares during the period, about 26% less than a year earlier. The social networking giant has repurchased $53.27 billion worth of its own shares in the past 12 months.

Along with Apple stock and the others, three other tech companies were among the top 10 largest buybacks. They include chipmaker Nvidia (NVDA), Amazon.com (AMZN) and Charter communication (CHTR).

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The top 20 companies accounted for 46.8% of second-quarter buybacks.

From a shareholder perspective, Apple share repurchases and other buybacks increase profits by reducing outstanding shares. Apple shares climbed 1.6% and closed 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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