Stock buybacks are enjoying a boom as the S & P 500 continues to climb in 2024 – and a few names are leading the pack in share repurchases. Tech and communication services companies have been dominating share buyback activity within the S & P 500 this year, according to Bank of America's equity and quantitative strategist Jill Carey Hall. Indeed, earlier this year Apple announced a massive $110 billion share buyback program, while Alphabet authorized a $70 billion repurchase .
Pro screened FactSet for buyback kings, based on the following criteria: They have trimmed total shares outstanding by at least 5% over the past 12 months They have repurchased stock in the most recent quarter They maintain a low debt to capital ratio, ruling out companies that using debt to finance buybacks General Motors made the list. Shares of the Detroit-based automaker have added about 30% in 2024. What's more is the company's strong track record of stock buybacks.
.