Alphabet exceeds expectations in Q4 earnings
This week, Alphabet reported Q4 earnings, closing out the fiscal year exceeding expectations. In its Q4 2020 earnings call transcript,...5 min read
Market trends
Kailey Raymond
|
November 18, 2020
15+ min read
The US GDP gained significant momentum in Q3, increasing by 7.4% over the previous quarter and recovering about two thirds of the ground it lost amidst the coronavirus pandemic earlier this year. While we’re not out of the COVID hole quite yet, with the economy still 3.5% smaller than it was at the end of last year, increases in buyback volume could signal executive’s confidence in some sectors.
Against this backdrop of a growing, yet still vulnerable economy, 120+ major corporations repurchased shares in Q3. Notably Q3 purchase volume increased by 55% over Q2. Which companies are riding the wave and repurchasing their stock? Take a look at the list we’ve compiled of companies over a $5B market cap below.
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We looked at companies with >$5B market cap and tracked 10Q filings from Q3’20 to see which industries repurchased the most stock by total dollar value repurchased.
We looked at companies with >$5B market cap and tracked 10Q filings from Q3’20 to see which industries were repurchasing their stock.
Company | July Volume |
Aug Volume |
Sept Volume | July Price | Aug Price | Sept Price | Amount Repurchased (in billions) | % Market Cap Repurchased |
Apple Inc |
67,990,000 |
43,119,000 |
60,725,000 |
$94.68 |
$115.99 |
$114.00 |
$18.36 |
0.91% |
Alphabet Inc |
1,454,000 |
1,592,000 |
2,114,000 |
$1,513.19 |
$1,561.67 |
$1,518.52 |
$7.90 |
0.67% |
Microsoft Corp |
9,748,145 |
7,797,300 |
7,606,666 |
$206.48 |
$213.96 |
$208.88 |
$5.27 |
0.33% |
Charter Communication Inc |
1,188,061 |
1,915,988 |
2,362,246 |
$537.54 |
$607.06 |
$615.83 |
$3.26 |
2.54% |
Dominion Energy |
3,673,314 |
24,829,124 |
$78.46 |
$78.40 |
$2.23 |
3.37% |
||
Mastercard Inc |
3,468,650 |
1,540,748 |
1,468,424 |
$302.71 |
$330.88 |
$340.07 |
$2.06 |
0.61% |
Procter & Gamble |
7,384,222 |
7,257,329 |
$135.42 |
$137.79 |
$2.00 |
0.58% |
||
2,310,000 |
2,205,000 |
2,205,000 |
$239.04 |
$268.67 |
$267.27 |
$1.73 |
0.22% |
|
Biogen Inc |
2,025,000 |
2,458,413 |
$283.69 |
$274.78 |
$1.25 |
3.37% |
||
L3Harris Technologies Inc |
5,055,208 |
1,336,140 |
$179.73 |
$180.58 |
$1.15 |
2.79% |
||
eBay Inc |
5,772,309 |
8,119,269 |
3,848,055 |
$54.68 |
$56.46 |
$51.97 |
$0.97 |
2.91% |
Cigna Corp |
1,180,578 |
2,349,942 |
1,438,383 |
$179.88 |
$178.78 |
$169.35 |
$0.88 |
1.15% |
Anthem Inc |
969,800 |
609,001 |
1,275,933 |
$264.56 |
$277.75 |
$260.93 |
$0.76 |
0.95% |
Amgen Inc |
1,069,984 |
1,004,844 |
960,100 |
$252.92 |
$242.72 |
$246.50 |
$0.75 |
0.57% |
Sempra Energy |
3,296,251 |
793,124 |
$122.27 |
$122.27 |
$0.50 |
1.30% |
||
Sirius XM Holdings Inc |
15,046,929 |
30,750,000 |
40,000,000 |
$5.85 |
$5.93 |
$5.40 |
$0.49 |
1.81% |
Lam Research Group |
483,000 |
861,000 |
$372.37 |
$327.63 |
$0.46 |
0.75% |
||
Progressive Corp |
1,600,514 |
1,602,786 |
1,683,519 |
$87.87 |
$90.44 |
$93.99 |
$0.44 |
0.80% |
O’Reilly Automotive Inc |
84,000 |
269,000 |
612,000 |
$423.09 |
$464.13 |
$461.24 |
$0.44 |
1.34% |
Sherwin Williams Co |
50,000 |
275,000 |
275,000 |
$648.56 |
$657.39 |
$695.43 |
$0.40 |
0.62% |
Aflac Inc |
2,045,100 |
3,913,300 |
4,957,427 |
$35.76 |
$36.98 |
$36.79 |
$0.40 |
1.33% |
Union Pacific Corp |
4,045,575 |
$98.93 |
$0.40 |
0.29% |
||||
Colgate-Palmolive |
|
1,795,000 |
2,888,380 |
$77.56 |
$76.78 |
$0.36 |
0.50% |
|
Ameriprise Financial Inc |
433,550 |
621,055 |
1,013,362 |
$151.84 |
$157.76 |
$152.48 |
$0.32 |
1.47% |
Cognizant Technology Solutions Corp |
4,100,000 |
$68.81 |
$0.28 |
0.71% |
||||
Wayfair Inc |
843,941 |
$331.65 |
$0.28 |
1.20% |
||||
McKesson Corp |
300,000 |
1,500,000 |
$152.66 |
$150.93 |
$0.27 |
0.96% |
||
Gilead Sciences Inc |
790,000 |
1,333,000 |
1,389,000 |
$75.48 |
$68.04 |
$64.30 |
$0.24 |
0.31% |
Fleetcor Technologies Inc |
412 |
999,503 |
$217.19 |
$238.43 |
$0.24 |
1.09% |
||
Automatic Data Processing Inc |
90,684 |
683,298 |
878,407 |
$132.36 |
$138.39 |
$136.45 |
$0.23 |
0.30% |
Santander Consumer USA Holdings Inc |
558,400 |
9,640,400 |
|
$18.60 |
$22.10 |
$0.22 |
3.15% |
|
MSCI Inc |
6,623 |
591,408 |
$348.20 |
$345.35 |
$0.21 |
0.62% |
||
Amphenol Corporation |
47,400 |
860,372 |
961,676 |
$105.46 |
$108.11 |
$108.05 |
$0.20 |
0.54% |
Mettler Toledo International Inc |
104,644 |
102,725 |
$955.37 |
$973.69 |
$0.20 |
0.73% |
||
Loews Corp |
|
1,250,171 |
4,154,083 |
$36.56 |
$35.82 |
$0.19 |
1.64% |
|
Kimberly Clark Corp |
162,100 |
541,200 |
570,700 |
$149.85 |
$156.80 |
$148.83 |
$0.19 |
0.40% |
KLA Corporation |
|
290,245 |
737,436 |
$206.72 |
$181.57 |
$0.19 |
0.52% |
|
SS&C Technologies Holdings Inc |
200,000 |
2,600,000 |
300,000 |
$57.05 |
$61.75 |
$61.64 |
$0.19 |
1.10% |
Verisign Inc |
289,000 |
264,000 |
270,000 |
$207.00 |
$208.39 |
$204.45 |
$0.17 |
0.77% |
Arista Networks Inc |
209,000 |
594,000 |
$219.86 |
$204.09 |
$0.17 |
0.81% |
||
Honeywell International Inc |
|
400,000 |
611,000 |
$0.00 |
$154.77 |
$165.53 |
$0.16 |
0.12% |
AGNC Investment Corp |
5,900,000 |
5,100,000 |
$13.92 |
$13.98 |
$0.15 |
1.85% |
||
Arrow Electronics Inc |
734,394 |
1,209,454 |
$74.87 |
$78.55 |
$0.15 |
2.27% |
||
Carlisle Cos Inc |
200,000 |
500,000 |
500,000 |
$119.07 |
$126.12 |
$123.35 |
$0.15 |
1.92% |
T. Rowe Price Group Inc |
32,814 |
1,090,792 |
$128.93 |
$126.64 |
$0.14 |
0.45% |
||
Avalonbay Communities Inc |
287,792 |
624,941 |
$152.90 |
$149.51 |
$0.14 |
0.58% |
||
Globe Life Inc |
592 |
531,837 |
1,053,872 |
$72.53 |
$83.72 |
$80.99 |
$0.13 |
1.34% |
Illumina Inc |
55,000 |
64,000 |
259,000 |
$369.87 |
$350.59 |
$316.65 |
$0.12 |
0.29% |
Service Corporation International |
894,191 |
251,996 |
1,710,983 |
$38.52 |
$46.06 |
$42.37 |
$0.12 |
1.40% |
Bank of America Corp |
5,000 |
3,891,000 |
104,000 |
$23.70 |
$27.90 |
$26.47 |
$0.11 |
0.05% |
Celanese Corp |
481,961 |
578,929 |
$101.73 |
$107.78 |
$0.11 |
0.72% |
||
Advance Auto Parts Inc |
191,730 |
524,278 |
$155.19 |
$152.31 |
$0.11 |
1.09% |
||
SEI Investments Company |
250,000 |
775,000 |
1,085,000 |
$51.65 |
$52.89 |
$50.54 |
$0.11 |
1.37% |
Vertex Pharmaceuticals Inc |
|
310,562 |
92,157 |
$270.48 |
$260.42 |
$0.11 |
0.19% |
|
The Blackstone Group Inc |
142,857 |
999,999 |
857,144 |
$54.28 |
$53.14 |
$52.21 |
$0.11 |
0.15% |
Motorola Solutions Inc |
203,313 |
67,273 |
443,815 |
$131.52 |
$148.64 |
$154.41 |
$0.11 |
0.37% |
Qorvo Inc |
175,000 |
397,000 |
265,000 |
$110.64 |
$131.59 |
$126.06 |
$0.11 |
0.64% |
Juniper Networks Inc |
2,600,000 |
1,600,000 |
$24.50 |
$23.03 |
$0.10 |
1.40% |
||
Regeneron Pharmaceuticals Inc |
179,824 |
$558.55 |
$0.10 |
0.18% |
||||
Equitable Holdings Inc |
3,259,806 |
1,473,143 |
$21.28 |
$20.80 |
$0.10 |
0.91% |
||
Clorox Co |
443,848 |
$225.30 |
$0.10 |
0.39% |
||||
PNC |
919,000 |
$107.50 |
$0.10 |
0.18% |
||||
Ubiquiti Inc |
55,333 |
546,670 |
$182.97 |
$159.99 |
$0.10 |
0.64% |
||
American Financials Group |
130,900 |
516,500 |
800,188 |
$59.71 |
$66.80 |
$66.53 |
$0.10 |
1.24% |
Cadence Design Systems Inc |
269,493 |
225,108 |
221,970 |
$100.33 |
$109.80 |
$105.16 |
$0.08 |
0.24% |
Assurant Inc |
242,000 |
335,476 |
$123.28 |
$120.03 |
$0.07 |
0.88% |
||
Alleghany Corp |
51,171 |
80,243 |
$547.08 |
$523.34 |
$0.07 |
0.80% |
||
Jack Henry & Associates |
300,000 |
100,000 |
$166.39 |
$159.57 |
$0.07 |
0.54% |
||
Alexion Pharmaceuticals Inc |
|
200,000 |
400,000 |
$102.63 |
$111.59 |
$0.07 |
0.24% |
|
Lockheed Martin Corp |
163,220 |
$363.74 |
$0.06 |
0.06% |
||||
Howmet Aerospace Inc |
31,755 |
2,875,339 |
$18.59 |
$17.34 |
$0.05 |
0.50% |
||
CSX Corp |
557,454 |
147,611 |
$68.10 |
$68.99 |
$0.05 |
0.07% |
||
Brunswick Corp |
738,926 |
$60.90 |
$0.05 |
0.81% |
||||
Dolby Laboratories Inc |
491,333 |
151,363 |
$69.92 |
$70.27 |
$0.04 |
0.50% |
||
CBOE Global Markets Inc |
|
170,141 |
295,225 |
$90.46 |
$89.60 |
$0.04 |
0.44% |
|
Dropbox Inc |
590,000 |
590,000 |
620,000 |
$21.82 |
$20.70 |
$19.84 |
$0.04 |
0.49% |
Nasdaq Inc |
149,897 |
109,756 |
$130.83 |
$130.67 |
$0.03 |
0.17% |
||
Corteva Inc |
1,159,748 |
$28.28 |
$0.03 |
0.12% |
||||
Gentex Corp |
125,110 |
525,295 |
525,351 |
$27.07 |
$27.38 |
$26.44 |
$0.03 |
0.40% |
Syneos Health Inc |
506,244 |
$59.26 |
$0.03 |
0.46% |
||||
Booz Allen Hamilton Holding Group |
394,262 |
|
|
$76.09 |
$0.03 |
0.25% |
||
Factset Research Systems Inc |
47,428 |
37,295 |
$344.03 |
$355.76 |
$0.03 |
0.25% |
||
Trimble Inc |
574,973 |
$48.70 |
$0.03 |
0.20% |
||||
Essex Portfolio LP |
121,260 |
|
$219.24 |
$0.00 |
$0.00 |
$0.03 |
0.16% |
|
Fair Isaac Corp |
24,000 |
35,600 |
$426.55 |
$421.32 |
$0.03 |
0.18% |
||
Estee Lauder Companies Inc |
369 |
|
114,053 |
$190.81 |
$219.79 |
$0.03 |
0.03% |
|
Jones Lang Lasalle Inc |
|
258,131 |
$96.82 |
$0.02 |
0.35% |
|||
Jabil Inc |
80,750 |
455,893 |
223,628 |
$31.52 |
$32.23 |
$34.67 |
$0.02 |
0.44% |
Robert Half International Inc |
448,873 |
$52.37 |
$0.02 |
0.32% |
||||
Sealed Air Corp |
521,498 |
$38.37 |
$0.02 |
0.29% |
||||
Morningstar Inc |
|
41,957 |
80,063 |
$158.90 |
$158.04 |
$0.02 |
0.23% |
|
Texas Instruments Inc |
68,088 |
40,951 |
877 |
$129.15 |
$131.33 |
$134.78 |
$0.01 |
0.01% |
Akamai Technologies Inc |
50,566 |
69,431 |
$109.52 |
$110.33 |
$0.01 |
0.08% |
||
Proofpoint Inc |
|
|
112,000 |
$104.82 |
$0.01 |
0.21% |
||
Pegasystems Inc |
42,000 |
26,000 |
26,000 |
$109.36 |
$120.08 |
$124.88 |
$0.01 |
0.11% |
TopBuild Corp |
24,524 |
33,286 |
$152.87 |
$157.67 |
$0.01 |
0.15% |
||
Brown & Brown Inc |
132,851 |
$44.29 |
$0.01 |
0.04% |
||||
Pool Corp |
|
|
19,613 |
$299.17 |
$0.01 |
0.05% |
||
Bruker Corp |
127,278 |
$39.28 |
$0.00 |
0.07% |
||||
OGE Energy Corp |
150,000 |
$33.14 |
$0.00 |
0.07% |
||||
Prosperity Bancshares Inc |
98,028 |
$49.99 |
$0.00 |
0.09% |
||||
Archer Daniels Midland |
102 |
106,337 |
172 |
$41.77 |
$43.53 |
$47.61 |
$0.00 |
0.02% |
Marketaxess Holding Inc |
600 |
3,000 |
5,148 |
$520.18 |
$493.15 |
$463.40 |
$0.00 |
0.02% |
Paycom Software Inc |
8,894 |
$318.28 |
$0.00 |
0.01% |
||||
Arthur J Gallagher & Co |
2,124 |
688 |
17,465 |
$102.73 |
$105.39 |
$105.08 |
$0.00 |
0.01% |
CACI International Inc |
10,455 |
$198.42 |
$0.00 |
0.03% |
||||
The Wendy’s Co |
21,202 |
59,900 |
$21.82 |
$21.00 |
$0.00 |
0.03% |
||
Quidel Corp |
|
|
10,157 |
$156.99 |
$0.00 |
0.02% |
||
Royal Gold Inc |
6,527 |
$136.59 |
$0.00 |
0.01% |
||||
McDonald’s Corp |
1,896 |
1,802 |
261 |
$192.40 |
$207.27 |
$205.33 |
$0.00 |
0.00% |
Harley-Davidson Inc |
7,541 |
20,069 |
$28.00 |
$26.00 |
$0.00 |
0.01% |
||
ON Semiconductor Corp |
|
13,519 |
10,916 |
$21.09 |
$22.27 |
$0.00 |
0.00% |
|
Leidos Holdings Inc |
|
|
4,177 |
$0.00 |
$0.00 |
$88.43 |
$0.00 |
0.00% |
Polaris Inc |
1,000 |
2,000 |
$91.71 |
$96.50 |
$0.00 |
0.01% |
||
Reliance Steel and Aluminum Co |
2,466 |
$100.00 |
$0.00 |
0.00% |
||||
BWX Technologies Inc |
3,887 |
405 |
500 |
$46.58 |
$57.75 |
$54.99 |
$0.00 |
0.00% |
Commerce Bancshares Inc |
609 |
1,757 |
496 |
$57.29 |
$60.02 |
$55.83 |
$0.00 |
0.00% |
Intercontinental Exchange Inc |
1,503 |
73 |
$93.75 |
$96.66 |
$0.00 |
0.00% |
||
Ball Corp |
1,618 |
$69.49 |
$0.00 |
0.00% |
||||
Ametek Inc |
|
764 |
|
$94.95 |
$0.00 |
0.00% |
||
Extra Space Storage |
600 |
$90.81 |
$0.00 |
0.00% |
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