“While rolling in cash with strong sales of iPhones, Apple repurchased $45 billion of its stock in 2014, far above second place Exxon Mobil,” Brian Deagon reports for Investor’s Business Daily.
“Apple increased its spending by 74% from the $26 billion spent the previous year,” Deagon reports. “Exxon Mobil was a distant second at $13.1 billion, among companies in the S&P 500, according to a report from S&P Dow Jones Indices.”
“Stock buybacks are viewed as a benefit to company shareholders and can be an indicator of company confidence,” Deagon reports. “When shares are repurchased, the number of outstanding shares is reduced, meaning the relative ownership of each investor increases. Buybacks also help improve a company’s price-to-earnings ratio, one of the most well-known and often-used measures of value.”
Read more in the full article here.
MacDailyNews Take: Keep retiring those shares, Apple!
[Thanks to MacDailyNews Reader “Bill” for the heads up.]