20 Companies Buying Back the Most Stock in 2016
In the first calendar quarter of 2016, Microsoft Corp. (NASDAQ: MSFT) spent $3.857 billion buying back stock, but that was $16.571 billion for the trailing 12 months. While this may not seem as impressive, Microsoft has spent $120 billion in the trailing 10-year period buying back stock. It’s also now acquiring LinkedIn and said that it will continue buying back shares under its commitments.
Shares of Microsoft closed most recently at $50.99. The market cap is $401 billion, and the dividend yield is 2.9%. The consensus price target is $57.76 and compares with a 52-week range of $39.72 to $56.85.
Boeing Co. (NYSE: BA) used some $3.5 billion for buybacks in the first quarter, but that was a larger portion of its trailing 12-month buyback tally of $7.752 billion. As of May, Boeing had spent $19 billion buying back stock in just three years. Some analysts wonder if this marked the top of airplane spending cycle.
Shares closed at $131.78, and the market cap is $84 billion. Boeing has a consensus price target of $148.06 and a 52-week range of $102.10 to $150.59. The dividend yield is 3.4%.
While dealing with ongoing activist pressure, American International Group Inc. (NYSE: AIG) is still reshuffling itself into whatever it will be in the years ahead. AIG’s tally for buybacks was $3.486 billion in the first quarter, and that was a part of $12.779 billion for the trailing 12 months.
AIG shares closed at $53.68, with a market cap of $60 billion. The consensus price target is $63.35, and the 52-week trading range is $50.20 to $64.93. AIG’s dividend yield is 2.4%.
Thought Express Scripts Holding Co. (NASDAQ: ESRX) may have no dividend, its repurchase tally of $3.109 billion for the first quarter was a part of $8.609 billion in total buyback spending for the trailing 12 months.
Shares of Express Scripts closed at $75.59, with a market cap of $48 billion. Its consensus price target is $80.50 and it has a 52-week range of $65.55 to $94.61.
Wal-Mart Stores Inc. (NYSE: WMT) keeps buying back stock, and some people accuse the Waltons of doing it to keep such strong control. The world’s largest retailer spent $2.735 billion in the first quarter of 2016. That is above the quarterly average by far, versus the trailing 12-month tally of $6.567 billion.
The stock closed at $71.74, with a market cap of about $223 billion. The consensus price target is $69.11, and Wal-Mart has a 52-week range of $56.30 to $74.14. The retail giant also has a dividend yield of 2.8%.
Johnson & Johnson
It may keep buying back stock, but now Johnson & Johnson (NYSE: JNJ) is also involved in an acquisition, and that will make it interesting to see if it alters the buyback spending. The first quarter of 2016 saw a total of $2.389 billion spent on buybacks, out of $5.481 billion in the trailing 12 months, ending March 31.
Shares of Johnson & Johnson closed at $116.48, within a 52-week trading range of $81.79 to $117.74 and with a consensus price target of $117.89. The market cap is roughly $320 billion, and the consumer products and medical products giant has a dividend yield of 2.8%.