By Davit Kirakosyan
Investing.com -- Here is your Pro Recap of the biggest share-buyback announcements you may have missed last week: massive new authorizations at Alphabet, Honeywell, Synchrony, and PulteGroup.
Alphabet announces $70 billion share repurchase program
Alphabet (NASDAQ: GOOGL ) announced a stock repurchase authorization of up to an additional $70B of its Class A and Class C shares.
The company reported better-than-expected Q1 earnings last week.
Honeywell approves $10B stock buyback program
Honeywell International (NASDAQ: HON ) announced that its Board of Directors authorized a repurchase of up to $10.0B of the company’s common stock, including approximately $2.1B of remaining availability under its previously announced $10.0B authorization.
The repurchase authorization has no expiry date and can be amended or terminated by the company's Board of Directors at any time without advance notice.
The company reported its Q1 results on Thursday, highlighted by a significant beat on EPS and revenues. It also raised its full 2023-year guidance.
2 more buybacks
Synchrony Financial (NYSE: SYF ) announced an incremental share repurchase program of up to $1.0B through June 30, 2024, bringing the total amount of share repurchase authorization to approximately $1.3B.
Furthermore, the company said it intends to increase the quarterly cash dividend from $0.23 to $0.25 per share of common stock, commencing in Q3/23.
PulteGroup (NYSE: PHM ) announced a $1.0B increase to the company’s share repurchase authorization, which will bring the total share repurchase authorization to $1.2B.
Shares closed the week with a nearly 7% gain.
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