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During the past three months, the S&P 500 index gained 5.6% as corporate earnings came in better than expected. The following high quality stocks all generated strong double-digit gains during the same time period.
 

Meta Platforms $37 Billion In Cash

Meta Platforms (META) reported first-quarter revenue rose 3% to $28.6 billion with net income down 24% to $5.7 billion. Profits were impacted by total restructuring charges of $1.1 billion during the first quarter, reflecting Meta Platforms’ continued push toward efficiency. During the first quarter, the company repurchased $9.2 billion of its common stock with $41.7 billion remaining authorized for future share repurchases. Meta ended the quarter with a strong balance sheet with $37.4 billion in cash and investments, $9.9 billion in long-term debt, and $124.7 billion in shareholders’ equity. Meta’s stock continued to rebound during the last three months with a friendly 44% gain. Hold.
 

Alphabet's $70 Billion Buyback

Alphabet (GOOG) reported first-quarter revenues increased by 3% to $69.8 billion with net income down 8% to $15.1 billion. These results included $2.6 billion in charges related to reductions in workforce and office space. Google Cloud provided the strongest growth during the quarter with revenues increasing 28% to $7.5 billion. Alphabet also introduced important product updates anchored in deep computer science and artificial intelligence, including Bard, its chatbot. Free cash flow increased 12% during the quarter to $17.2 billion. Alphabet announced a new $70 billion share repurchase program. Alphabet googled up a 38% gain during the past three months. Buy.
 

Pultegroup $1 Billion Buyback

PulteGroup (PHM) reported first-quarter total revenues increased 14% to $3.57 billion with EPS up 28% to $2.35. The Board approved a $1.0 billion increase in the share repurchase authorization, bringing the total available for future repurchases to $1.2 billion. Since the initiation of its share buyback program, Pulte has repurchased 40% of its shares outstanding. During the past quarter, PulteGroup’s stock rose 29%. Hold.
 

Microsoft Returned $10.6 Billion

Microsoft (MSFT) reported revenues for the fiscal 2023 third quarter increased 7% to $52.9 billion with net income increasing 9% to $18.3 billion. During the quarter, Microsoft returned nearly $10.6 billion to shareholders through dividend payments of $5.1 billion and share repurchases of $5.5 billion. Microsoft’s stock is up more than tenfold over the last 16 years. Hold.
 

Apple's $90 Billion Buyback

Apple (AAPL) reported second-quarter revenue declined 3% to $94.8 billion with net income decreasing 3% to $24.2 billion. Given the company’s strong financial position with $166 billion in cash and investments as of quarter end, the company announced a 4% increase in its dividend, marking the eleventh consecutive year of dividend increases. In addition, the board of directors authorized an additional $90 billion to its existing share repurchase program. Over the last 13 years, Apple has provided shareholders with a juicy 1,874% total return. Hold.
 

Oracle Increased its Dividend by 25%

Oracle (ORCL) reported fiscal 2023 third quarter revenues increased 18% to $12.4 billion with net earnings declining 18% to $1.9 billion. During the quarter, the Board of Directors increased the quarterly cash dividend by a hefty 25% to $.40 per share. In the fourth quarter, Oracle expects revenue growth in the 15% to 17% range with EPS between $1.56 and $1.60. Over the last decade, Oracle has provided a divine 244% total return. Hold.
 

LVMH 1.5 Billion Euro Buyback

LVMH Moët Hennessy Louis Vuitton (LVMUY) recorded revenue of 21 billion euros in the first quarter of 2023, up 17% compared to the same period of 2022. The company announced a share buyback program for a maximum amount of one billion five hundred million euros over a period beginning on March 1st, 2023, and ending on or before July 20th, 2023. LVMH’s stock provided a dressy 10% total return over the last three months. Buy.
 

Booking Holdings 1Q Revenues Up 40%

Booking Holdings (BKNG) booked a 40% increase in first-quarter revenues to $3.78 billion generating a net income of $266 million. Gross bookings and room nights reached record levels, surpassing expectations, on pent-up demand that drove consumers to book flights and hotels despite recession concerns. During the quarter, Booking Holdings generated $2.8 billion in free cash flow on the strong summer bookings and returned $2.15 billion of the cash to shareholders through share repurchases. During the last three months, Booking Holdings’ stock traveled 13% higher. Buy.

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