Largest Share Buybacks in Q3 2024: An Insight into Stock Buyback Trends
Wednesday, 13 November 2024, 16:50
Share Buybacks on the Rise
Share buybacks have become a significant practice among publicly traded companies, with a remarkable rise observed in Q3 2024. Companies are doubling down on their stock buyback strategies despite a tax burden imposed by the Inflation Reduction Act.
Giant Players Leading the Charge
- Apple (NASDAQ: AAPL) repurchased $25 billion in shares, marking a key moment in its historic $110 billion buyback program.
- Google (NASDAQ: GOOGL) followed suit with $15.30 billion in stock repurchased as part of a larger $70 billion initiative.
- Meta Platforms (NASDAQ: META) is not far behind with $8.82 billion in share buybacks, aiming for a total of $50 billion in its buyback strategy.
- JPMorgan (NYSE: JPM) repurchased approximately $6.36 billion in shares, aligning with its authorized $30 billion repurchase plan.
- ExxonMobil (NYSE: XOM) saw $5.51 billion in shares bought back during this quarter.
Market Implications
With these significant actions, analysts speculate that stock buyback activities will surpass $1 trillion by 2025, highlighting a strong forecast for corporate repurchase engagements.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.