Tap the Stock Buyback Trend With PKW ETF
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 08 2024
0mins
Source: NASDAQ.COM
- Stock Buybacks Surge: Stock buybacks have rebounded strongly, with companies announcing repurchases exceeding $383 billion in the last 13 weeks, up 30% from the previous year.
- Major Companies' Buyback Announcements: Apple led with a $110 billion share repurchase, followed by Alphabet's $70 billion and Uber's first-ever $7 billion buyback after posting its first annual net profit since going public.
- Earnings Season Impact: U.S. companies are experiencing their best earnings season in nearly two years, with buybacks likely to boost earnings per share and drive stock prices higher.
- Invesco BuyBack Achievers ETF: Investors can consider the Invesco BuyBack Achievers ETF (PKW) to capitalize on the buyback trend, tracking companies that have reduced shares outstanding by 5% or more.
- ETF Details: PKW tracks the NASDAQ US Buyback Achievers Index, holding 203 stocks with top sectors in consumer discretionary and financials, making it a popular fund in the buyback space.
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Analyst Views on GOOG
Wall Street analysts forecast GOOG stock price to fall
15 Analyst Rating
14 Buy
1 Hold
0 Sell
Strong Buy
Current: 384.840
Low
255.00
Averages
336.08
High
400.00
Current: 384.840
Low
255.00
Averages
336.08
High
400.00
About GOOG
Alphabet Inc. is a holding company. The Company's segments include Google Services, Google Cloud, and Other Bets. The Google Services segment includes products and services such as ads, Android, Chrome, devices, Google Maps, Google Play, Search, and YouTube. The Google Cloud segment includes infrastructure and platform services, collaboration tools, and other services for enterprise customers. Its Other Bets segment is engaged in the sale of healthcare-related services and Internet services. Its Google Cloud provides enterprise-ready cloud services, including Google Cloud Platform and Google Workspace. Google Cloud Platform provides access to solutions such as artificial intelligence (AI) offerings, including its AI infrastructure, Vertex AI platform, and Gemini for Google Cloud; cybersecurity, and data and analytics. Google Workspace includes cloud-based communication and collaboration tools for enterprises, such as Calendar, Gmail, Docs, Drive, and Meet.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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