Long-term investors have generally been a fan of stock buybacks and dividends. After all, dividends can account for about half of all shareholder returns over time. And buybacks can help to shrink the number of shares or limit dilution from stock options and acquisitions.

The effort of companies using their dollars to repurchase stock has been monumental over the past decade. Healthy companies could take advantage of the recession’s pressure on their shares to make their earnings per share that much stronger. They could also use that cash to keep their shares from falling even lower. Ultimately, companies spending the most on stock buybacks are believed to be stronger than companies that do not.

The companies that make up the S&P 500 spent a total of $132.63 billion buying back stock in the first quarter of 2017, according to Standard & Poor’s data. Of those, the top 20 buybacks were $55.875 billion. That is over 42% of the entire S&P 500 index buybacks generated by just 4% of the companies.

While these numbers are massive, S&P showed that the total allocations for buybacks and dividends among the S&P 500 companies were actually lower during the first quarter of 2017 than in prior periods. The stock market has risen and risen to all-time highs each month. Companies may have decided not to chase up their shares, and perhaps they are building up cash or waiting to see if the tax cuts and repatriation efforts will play out. The end result here is that companies may be getting smarter about their capital allocations and about returning capital to shareholders.

All data is after the most recent quarterly reporting period, which implies by the end of March 31, 2017. S&P provided comprehensive buyback history of the past year, five years and 10 years as a barometer. Some companies had outspent others on this list over time, but some of the larger buybacks of the past decade will not appear here as their buybacks were not ranked in the top 20 by dollars spent during the first quarter.

24/7 Wall St. has included the market cap for each company as a reference for how great these buybacks are in the grand scheme of things. Also included are recent trading data and the consensus analyst price targets from Thomson Reuters.

These are the top 20 stock buybacks in dollars spent during the first quarter of 2017 of all S&P 500 companies.

Apple Inc. (NASDAQ: AAPL) is the king of buybacks, buying back $7.161 billion worth of stock in the first quarter and a whopping $34.204 billion in the trailing 12-month period. Apple has now spent some $150.847 billion in the past five years.

Trading at $145.35 today, Apple currently has a market cap of $758 billion. Its 52-week trading range is $91.50 to $156.65 and its consensus analyst target price is $157.58.

Pfizer Inc. (NYSE: PFE) was the second largest of all buybacks in the S&P 500 in the quarter, and that makes it the number-one pharma and health care buyback giant. Pfizer spent $5.0 billion in the first quarter, the same as the trailing 12-month period, and that is $42.7 billion spent in the past five years and $57.27 billion over the past decade.

Shares of Pfizer were last seen at $34.21. The company has a market cap of $204 billion. The 52-week range is $29.83 to $37.39 and the consensus target price is $37.35.

CVS Health Corp. (NYSE: CVS) was a surprise to see as the third largest in buybacks in the first quarter of 2017. It spent $3.621 billion on buybacks and that came to a sum of $6.016 billion over the past 12-month period. CVS has now spent $23.4 billion on buybacks in the past five years and $36.1 billion in the past 10.

CVS recently traded at $77.66. The stock has a 52-week range of $69.30 to $98.66, and its consensus target price is $87.08. It currently has a total addressable market cap of $79 billion.

American International Group Inc. (NYSE: AIG) led the financial sector with buybacks, and that made it the fourth largest share buyback of the S&P 500. It spent $3.585 billion in the first quarter, for a total of$11.559 billion over the trailing 12-month period. AIG has now spent $41.2 billion in the past five years and $48.3 billion in the past 10 years for its stock buybacks.

Shares of AIG were at $62.99, with a consensus price target of $68.64 and a 52-week range of $48.41 to $67.47. The market cap is $58 billion.

Johnson & Johnson (NYSE: JNJ) remains active in buybacks and was the fifth largest of the S&P 500 in the first quarter of 2017. The company spent $3.342 billion in the first quarter and $9.939 billion in the trailing 12 months. That comes to a total of $41.2 billion over five years and $58.45 billion over the past 10.

At $136.14 a share today, Johnson & Johnson has a market cap of $366 billion. Its 52-week range is $109.32 to $136.21 and its consensus target price is $131.83.

Aetna Inc. (NYSE: AET) was number six in S&P 500 stock buybacks with a spend of $3.3 billion in the first quarter. That was the same amount for the trailing 12-months, but Aetna has spent $7.3 billion in the past five years and just over $15 billion in the past 10 years.

Shares of Aetna were trading at $154.19. The current market cap is $51 billion. The 52-week range is $104.59 to $154.27 and the consensus target price is $152.47

JPMorgan Chase & Co. (NYSE: JPM) was barely the king of the money center banks in buybacks and that made it the seventh largest buyback in the first quarter. JPMorgan spent $2.832 in quarter on buybacks and has spent $10.218 over the past year. It has spent a sum of $28.5 billion over the past five years and $44.8 billion over the past decade.

JPMorgan was recently at $86.87, in a 52-week range is $57.05 to $93.98. Its consensus target price is $94.04. It currently has a total addressable market cap of $308 billion.

Bank of America Corp. (NYSE: BAC) was the eighth largest buyback of the first quarter at $2.728 billion. That brought the longer-term stock buyback total to $6.84 billion in the past 12 months, $15.1 billion over the past five years and $16.4 billion over the trailing 10 years. As a reminder, Bank of America had been more restricted by regulators on returning capital up until this past year, and it may be more aggressive ahead.

Shares of Bank of America were last seen at $22.97, with a consensus price target of $26.00 and a 52-week range of $12.05 to $25.80. The market cap is $228 billion.

Wells Fargo & Co. (NYSE: WFC) was the ninth largest S&P 500 stock buyback in the first quarter at $2.534 billion. That took its total dollars spent on stock buybacks to $8.6 billion over the trailing year, $38.44 billion over five years and $48.64 billion over the past 10 years.

At $52.23 a share today, Wells Fargo currently has a market cap of $261 billion. Its 52-week range is $43.55 to $59.99 and its consensus target price is $57.59.

Boeing Co. (NYSE: BA) ranked 10th on the list of first quarter buybacks at $2.5 billion. It spent a total of $6.0 billion over the trailing year, and its total buyback dollars spent were $24.05 billion over five years and $29.45 billion over 10.

Shares of Boeing were last trading at $199.79. The company currently has a market cap of $120 billion. Its 52-week range is $122.35 to $201.24 and its consensus analyst target is $190.77.

Citigroup Inc. (NYSE: C) is also playing catch up after being somewhat restricted by regulators on returning capital to shareholders. Citi was the 11th highest buyback in the first quarter at $2.255 billion. Its one-year buyback totaled $10.241 billion, versus a total of $20.78 billion over five years and $22.55 billion over 10.

Citigroup recently traded at $63.69, in a 52-week range of $38.31 to $65.40. The consensus target price is $65.32. The total addressable market cap is $174 billion.

Wal-Mart Stores Inc. (NYSE: WMT) was the 12th largest S&P buyback at $2.185 billion in the first quarter. That is a total one-year spend of $7.748 billion on buybacks, and $25.2 billion over five years and $60.1 billion over 10 years.

Shares of Walmart were last seen at $75.43, with a consensus price target of $80.49 and a 52-week range of $65.28 to $80.47. The company currently has a market cap of $229 billion.

Microsoft Corp. (NASDAQ: MSFT) was the lucky 13th largest S&P 500 buyback in the first quarter. It spent $2.062 billion in the first quarter, and that came to a total of $13.7 billion for the trailing 12-month period. Microsoft has now spent a total of $54.1 billion on buybacks in the past five years, and $110.1 billion in buybacks over the past 10 years.

At $69.98 a share, Microsoft has a market cap of $540 billion. Its 52-week range is $48.04 to $72.89, and its consensus analyst target price is $74.73.

Walt Disney Co. (NYSE: DIS) was the 14th largest S&P stock buyback at $2.035 billion in the first quarter of 2017. Its one-year tally for buybacks was $6.608 billion, and that makes for $29.05 billion total in five years and $46.6 billion over 10 years. After buying Marvel, Pixar and Star Wars, maybe buying growth might be more important than using all its cash buying back stock.

Shares of Disney were last trading at $104.50. The company currently has a market cap of $163 billion. Its 52-week range is $90.32 to $116.10, and its consensus target price is $118.00.

Procter & Gamble Co. (NYSE: PG) was the 15th largest S&P 500 company buying back stock, with a $2.001 billion spent on buybacks. That was $5.233 billion over one year, $23.98 billion over five years and $58.464 billion spent over 10 years.

P&G was recently trading at $89.13, in a 52-week range of $80.95 to $92.00. The consensus target price is $91.59, and the total addressable market cap is $228 billion.

Intuitive Surgical Inc. (NASDAQ: ISRG) is not known for being a massive buyback company, but ranked as 16th of the S&P 500 buybacks it spent a total of $2.000 billion in the first quarter on buybacks. To show how new it is at the buyback game, Intuitive Surgical’s 12-month buyback tally is $2.034 billion. The company has now spent $4.574 billion buying back stock over five years and $5.254 billion over the trailing 10-year period.

Shares of Intuitive Surgical were last at $958.95, with a consensus price target of $884.47 and a 52-week range of $610.71 to $959.99. The company currently has a market cap of $35 billion.

Bristol-Myers Squibb Co. (NYSE: BMY) was 17th among the S&P 500 buybacks. It spent $2.000 billion the first quarter, the same as the entire trailing 12-months. Its five-year tally buyback is just $4.733 billion, as well as just $6.869 billion over the trailing 10-year period.

At $57.40 share, Bristol-Myers has a market cap of $94 billion. Its 52-week range is $46.01 to $77.12, and its consensus target price is $57.14.

Visa Inc. (NYSE: V) came in 18th place for first-quarter buybacks in the S&P 500 with a tally of $1.582 billion. That trend has slowed some as Visa spent $6.934 billion over the trailing 12 months. Visa’s total buyback tally was $24.07 billion in the past five years and $43.261 billion over the trailing decade.

Visa was last seen at $94.10. The 52-week range is $73.25 to $96.60. The company has a total addressable market cap of $217 billion.

General Electric Co. (NYSE: GE) was the 19th largest S&P 500 buyback of the first quarter at $1.578 billion. Its trailing 12-month buyback tally was $16.681 billion, as it has been aided by prior GE Capital asset sale dollars. GE’s buyback tally is $40.64 billion over the past five years and $63.33 billion over the trailing 10-year period.

GE recently traded at $27.74. The stock has a 52-week range is $27.10 to $33.00 and a consensus target price of $32.14. The total addressable market cap is $241 billion.

Humana Inc. (NYSE: HUM) came in 20th place for S&P 500 companies buying back stock in the first quarter. Humana spent $1.574 in the first quarter, for a 12-month tally of $1.607 billion. Humana has spent only $3.85 billion in buybacks in the trailing five-year period and a total of $4.826 billion over the past 10-year period.

Shares of Humana were trading at $239.69, with a consensus price target of $238.47 and a 52-week range of $150.00 to $239.94. The company currently has a market cap of $34 billion.

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Note that all buyback dollars spent data was provided by Standard & Poor’s

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