apple (AAPL) and Google parent-alphabet ( GOOGL ) led all U.S. companies in share buybacks in the second quarter, although overall buybacks fell nearly 22% from the previous quarter, according to S&P Dow Jones Indices. In the meantime, Microsoft (MSFT) and Facebook-parent Goal (META) was also among the top five in share buybacks.
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Overall, S&P 500 repurchases in the second quarter were $219.6 billion, down 21.8% from the record $281 billion in the first quarter.
Information technology companies continued to lead the way in buybacks. Purchases of financial firms fell 61% to $21.2 billion. Health care buybacks decreased 58% to $17.2 billion.
Apple stock: $91.34 billion repurchased
Apple bought back $24.56 billion of its own stock in the second quarter, down 4% from a year earlier. The iPhone maker has bought back $91.34 billion of Apple stock in the past 12 months.
Alphabet bought $15.19 billion in Google stock in the second quarter, up 19% from a year earlier. The Internet search giant has bought $54.58 billion in Google stock over the past 12 months.
And Microsoft bought back $8.76 billion of its own stock in the second quarter, up 21% from a year earlier. The software giant has bought back $32.69 billion of Microsoft stock in the past 12 months.
Financial and healthcare buybacks fall
Facebook-parent Metaplatforms ( META ) bought back $6.2 billion of its own stock during the period, down 26% from a year earlier. The social media giant has bought back $53.27 billion of its own stock in the past 12 months.
Along with Apple and the others, three other tech companies were among the top 10 buybacks. It includes the chip maker Nvidia (NVDA), amazon.com (AMZN) and Communications of the Charter (CHTR).
The top 20 companies accounted for 46.8% of buybacks in the second quarter.
From a shareholder’s perspective, Apple’s stock buybacks and other buybacks increase earnings by reducing shares outstanding.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.
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