By Roshan Fernandez
$293.5 billion in buybacks
That's how much S&P 500 companies spent buying back stock in the first quarter, a new record.
-- The buybacks, led by tech and financial companies, top the previous record of $281 billion set in the first quarter of 2022.
-- The toal is up nearly 21% from the fourth quarter of 2024, data released Wednesday by S&P Dow Jones Indices showed.
-- More companies participated in buybacks, too.
Apple continued to lead the way, and Meta more than quadrupled share repurchasing compared to the fourth quarter. The financial sector spent 41% more than in the previous three months, led by a near-75% increase at JPMorgan.
The current quarter might be less rosy, with buybacks likely more more limited to companies with secure cash flows, said Howard Silverblatt, a senior index analyst at S&P Dow Jones Indices. He pointed to market turmoil and volatility stemming from tariffs.
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(END) Dow Jones Newswires
June 25, 2025 10:19 ET (14:19 GMT)
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