Market trends

99 Companies that Continued (or Increased) Buybacks in March

Kailey Raymond

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May 1, 2020


Person giving another person money.
Person giving another person money.

Economies throughout the world have seen demand weaken with the spread of coronavirus throughout the globe. As Q1 earnings season continues and the reports of losses grows, so does the list of companies suspending buybacks.

Amidst market upheaval, 99 large publicly traded companies have reported buybacks continuing into March, with many even quickening the pace of repurchasing nearing quarter close. Which companies are still buying their stock? Take a look at the list we’ve compiled below:

 

Takeaways:

  • In March, the 99 companies identified repurchased a collective $33.21B with Alphabet, Apple and Microsoft accounting for 44.7% of the total buybacks with a combined $14.85B in buybacks in March
  • 23 companies repurchased >1% of market cap within the month of March with Masco Corp repurchasing 4.07% and Synchrony Financial repurchasing 3.6% of market cap, respectively
  • Delta, American Airlines and Southwest continued buybacks in March with American Airlines and Southwest repurchasing nearly $40M (representing .75% and 2.53% of their respective market caps) in March alone

AlphaSense’s AI technology picks up on nuances in human language found in SEC filings, event transcripts and thousands of premium business documents in real-time across the entire market, by industry, or watchlist. Start your free trial of AlphaSense now or login to your account.

For this analysis we looked at 10Qs of companies with a $5B market cap or greater

 

Repurchases from Apple and Microsoft led the Information Technology sector to dominate in terms of the total dollar value of buybacks in March, with the IT sector accounting for 46% of total value. Together, Apple and Microsoft’s buybacks account for 72% of repurchase dollar value within IT.

 

While IT represents a larger share of the total dollar value of buybacks in March, companies in the Financial and Industrial sectors are buying back more often than their counterparts in other industries, with the sectors accounting for 18% of the buyback volume, respectively.

Company Sector Market Cap (in billions) March Shares Purchased March Share Price Amount Repurchased in March (in billions) % of Market Cap Repurchased in March (in billions)
Masco Corp Industrials $10.90 9,442,874 $46.94 $0.44 4.07%
Synchrony Financial Financials $12.30 16,817,253 $26.36 $0.44 3.60%
T Rowe Price Financials $26.30 7,100,681 $103.33 $0.73 2.79%
Southwest Airlines Industrials $15.90 7,879,876 $51.12 $0.40 2.53%
Cummins Industrials $24.10 3,500,000 $156.90 $0.55 2.28%
Cerner Corp Healthcare $21.10 5,139,129 $68.08 $0.35 1.66%
Service Corporation International Consumer Discretionary $6.70 2,290,566 $40.90 $0.09 1.40%
Zebra Technologies Information Technology $13.00 870,115 $208.33 $0.18 1.39%
Qualcomm Information Technology $88.20 15,279,000 $75.38 $1.15 1.31%
eBay Consumer Discretionary $31.70 12,665,693 $32.28 $0.41 1.29%
Cincinnati Financial Corp Financials $11.30 1,490,330 $97.44 $0.15 1.29%
First American Financial Financials $5.20 1,702,646 $38.64 $0.07 1.27%
Carlisle Cos Industrials $7.00 700,000 $124.63 $0.09 1.25%
Honeywell Industrials $100.40 7,729,326 $158.20 $1.22 1.22%
Graco Inc Industrials $7.40 2,064,830 $43.58 $0.09 1.22%
Omnicom Group Communication Services $13.10 2,333,890 $67.50 $0.16 1.20%
Lam Research Information Technology $37.10 1,568,000 $281.60 $0.44 1.19%
MSCI Financials $28.00 1,313,482 $248.79 $0.33 1.17%
Fidelity National Inc Financials $7.80 3,100,000 $28.40 $0.09 1.13%
Texas Instruments Industrials $106.50 10,925,981 $102.74 $1.12 1.05%
Halliburton Energy $9.70 7,388,038 $13.56 $0.10 1.03%
Celanese Corp Materials $10.20 1,229,670 $85.41 $0.11 1.03%
SEI Investments Financials $7.80 1,652,000 $46.62 $0.08 0.99%
Sherwin Williams Materials $48.70 925,000 $484.19 $0.45 0.92%
Idex Corp Industrials $11.90 851,823 $125.20 $0.11 0.90%
Cheneire Energy Energy $11.50 1,968,384 $50.80 $0.10 0.87%
CSX Corp Industrials $50.70 7,038,164 $61.49 $0.43 0.85%
Pultegroup Consumer Discretionary $7.60 2,098,385 $30.50 $0.06 0.84%
Apple Information Technology $1,000.30 31,158,000 $265.27 $8.27 0.83%
Whirlpool Consumer Discretionary $7.00 477,000 $120.97 $0.06 0.82%
Discover Financial Financials $13.20 1,733,628 $61.90 $0.11 0.81%
American Airlines Industrials $5.30 2,335,805 $16.96 $0.04 0.75%
Intel Corp Information Technology $254.00 36,200,000 $52.11 $1.89 0.74%
SiriusXM Holdings Communication Services $25.90 29,243,680 $5.56 $0.16 0.63%
Principal Financial Financials $10.00 1,349,175 $45.19 $0.06 0.61%
Waters Corporation Healthcare $11.60 347,000 $192.78 $0.07 0.58%
Crown Holdings Materials $8.70 1,038,821 $48.24 $0.05 0.58%
Verisign Information Technology $24.40 772,000 $179.09 $0.14 0.57%
Syneos Health Healthcare $5.90 600,000 $53.38 $0.03 0.54%
Maxim Integrated Products Information Technology $15.50 1,599,000 $50.90 $0.08 0.53%
Fair Isaac Corp Information Technology $10.20 184,837 $288.46 $0.05 0.52%
Cognex Corp Information Technology $9.90 1,215,000 $42.01 $0.05 0.52%
Pilgrims Pride Corp Consumer Staples $5.50 1,465,695 $19.04 $0.03 0.51%
Northern Trust Corp Financials $17.10 1,112,215 $76.68 $0.09 0.50%
AMPHENOL CORPORATION Information Technology $27.30 1,477,278 $91.49 $0.14 0.50%
Charter Communications Communication Services $116.00 1,246,396 $437.05 $0.54 0.47%
Lockheed Martin Industrials $108.80 1,453,821 $350.37 $0.51 0.47%
Intercontinental Exchange Financials $49.80 2,718,000 $85.42 $0.23 0.47%
Idexx Laboratories Healthcare $23.70 427,182 $233.00 $0.10 0.42%
Anthem Inc Healthcare $70.80 1,135,798 $261.46 $0.30 0.42%
DR Horton Consumer Discretionary $17.80 1,778,760 $41.38 $0.07 0.41%
Alphabet Communication Services $917.80 3,225,000 $1,170.86 $3.78 0.41%
Pegasystems Information Technology $6.60 299,000 $79.88 $0.02 0.36%
Mondelez International Consumer Staples $73.00 5,043,655 $51.82 $0.26 0.36%
Northup Gruman Industrials $55.10 625,975 $313.11 $0.20 0.36%
The Hershey Co Consumer Staples $28.00 526,138 $155.08 $0.08 0.29%
Microsoft Information Technology $1,004.00 18,203,465 $153.78 $2.80 0.28%
Lennox International Industrials $7.10 84,507 $233.90 $0.02 0.28%
Cadence Design Systems Information Technology $22.90 967,095 $61.85 $0.06 0.26%
Fastenal Industrials $20.70 1,600,000 $32.54 $0.05 0.25%
Entegris Inc Information Technology $7.60 411,514 $46.37 $0.02 0.25%
Illumina Healthcare $46.80 424,000 $277.01 $0.12 0.25%
Franklin Resources Financials $9.20 1,147,744 $19.36 $0.02 0.24%
American Express Financials $77.40 1,835,465 $100.37 $0.18 0.24%
Starbucks Consumer Discretionary $89.80 3,139,273 $64.22 $0.20 0.22%
Delta Airlines Industrials $17.40 738,722 $46.99 $0.03 0.20%
Kimberly Clark Consumer Staples $47.20 714,900 $129.88 $0.09 0.20%
Johnson & Johnson Healthcare $395.30 5,031,134 $142.96 $0.72 0.18%
Amgen Inc Healthcare $140.60 1,184,327 $201.66 $0.24 0.17%
Intuitive Surgical Healthcare $60.60 191,639 $521.83 $0.10 0.17%
Iqvia Holdings Healthcare $27.20 400,000 $110.53 $0.04 0.16%
Rockwell Automation Industrials $22.80 228,719 $155.83 $0.04 0.16%
PepsiCo Consumer Staples $183.60 2,100,000 $128.00 $0.27 0.15%
The Carlyle Group Financials $13.50 837,491 $22.33 $0.02 0.14%
Chipotle Mexican Grill Consumer Discretionary $24.50 48,069 $624.00 $0.03 0.12%
Colgate-Palmolive Consumer Staples $60.30 1,031,036 $67.36 $0.07 0.12%
3M Industrials $89.90 723,676 $140.55 $0.10 0.11%
The Hartford Financial Services Group Financials $14.70 313,165 $47.72 $0.01 0.10%
Facebook Communication Services $553.60 2,100,000 $166.71 $0.35 0.06%
Eli Lilly Healthcare $148.00 601,000 $137.87 $0.08 0.06%
Paycom Software Information Technology $15.00 39,555 $203.14 $0.01 0.05%
Prologis, Inc Real Estate $65.90 539,000 $64.66 $0.03 0.05%
Markel Corp Financials $12.50 5,212 $1,139.90 $0.01 0.05%
American Tower Group Real Estate $105.00 213,352 $211.45 $0.05 0.04%
Brown & Brown Financials $10.40 70,548 $34.86 $0.00 0.02%
Masimo Corp Healthcare $11.50 11,652 $154.09 $0.00 0.02%
Centene Healthcare $38.60 12,000 $53.05 $0.00 0.00%
Dow Chemical Materials Not listed 2,028,919 $36.97 $0.08 NA

 

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Kailey Raymond

A customer-obsessed and data-driven marketer, Kailey Raymond leads Customer Marketing at AlphaSense. Previously, she was an early employee at two high-growth tech startups, in charge of launching new markets and building local communities.


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