Amazon.com Inc. still refuses to buy back its own stock, even as the stock’s continued surge to record highs suggests investors don’t agree.
The e-commerce giant disclosed Friday in its quarterly filing with the Securities and Exchange Commission that it didn’t repurchase any common stock during the first quarter. In fact, Amazon hasn’t bought back any of its shares in over five years.
It’s not that it can’t, it just chooses not to.
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Amazon AMZN, +0.72% has stated in filings that it will “continually evaluate opportunities” to buy back its common stock. And the company has a $5 billion share repurchase program in place, with no fixed expiration.
But filings show Amazon hasn’t repurchased any shares since the first quarter of 2012, when it paid $960 million to buy back 5.3 million shares. That implies an average price paid of a little more than $181 a share. The last time the stock traded that low was March 15, 2012.
The e-commerce giant disclosed Friday in its quarterly filing with the Securities and Exchange Commission that it didn’t repurchase any common stock during the first quarter. In fact, Amazon hasn’t bought back any of its shares in over five years.
It’s not that it can’t, it just chooses not to.
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Amazon AMZN, +0.72% has stated in filings that it will “continually evaluate opportunities” to buy back its common stock. And the company has a $5 billion share repurchase program in place, with no fixed expiration.
But filings show Amazon hasn’t repurchased any shares since the first quarter of 2012, when it paid $960 million to buy back 5.3 million shares. That implies an average price paid of a little more than $181 a share. The last time the stock traded that low was March 15, 2012.