(RTTNews) – S&P Dow Jones Indices or “S&P DJI” said that preliminary first-quarter 2020 S&P 500 stock buybacks, or share repurchases, were $198.7 billion, down 3.4% from the first-quarter 2019’s $205.81 billion.
S&P DJI noted that buybacks remained top heavy, even as they declined, with the top 20 companies accounting for 46.7% of the total, down from the fourth-quarter’s 55.0%.
The five issues with the highest total buybacks for the first-quarter 2020 were : Apple (AAPL) spent $18.8 billion in the first-quarter of 2020, down 21.2% from last year’s $23.8 billion.
Alphabet (GOOG) spent $8.5 billion for buybacks in the first-quarter, up from $6.1 billion for the prior quarter.
Microsoft’s (MSFT) total buybacks were $7.1 billion for first-quarter of 2020, up from $5.2 billion in the prior quarter.
JP Morgan’s (JPM) total buybacks were $6.5 billion, down from their $6.8 billion fourth-quarter 2019 expenditure.
Bank of America’s buybacks were $6.4 billion, down from the $7.7 billion spent in the fourth-quarter of 2019.
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