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150+ Companies Continue Buybacks in Q2 as GDP Shrinks

AlphaSense Analyst

In Q2, the US GDP dropped by a historic 32.9%, bankruptcies surged and mass layoffs led to unprecedented unemployment numbers. As the European Central Bank extended its ban on banks paying dividends and buying back their own stock, US companies took a different stance on repurchasing.

Against the backdrop of a vulnerable economy, 150+ major corporations continued to repurchase shares in Q2. Which companies are still buying their stock? Take a look at the list we’ve compiled of companies over a $5B market cap below.

Takeaways:

  • In Q2, 150+ companies repurchased a collective $38.82B, with Apple, Alphabet, Microsoft accounting for 56.5% of total buybacks with a combined $21.94B in buybacks in Q2
  • 13 companies repurchased >1% of their market capitalization within Q2 with Biogen repurchasing 6.46% of market cap
  • Financials companies represent the highest percentage of buybacks by volume, accounting for 20.6% of total repurchases. Unlike other sectors, Financials firms ramped their repurchases from April to June more often the companies within other sectors
  • While Financials firms accounted for the highest volume of buybacks, repurchases from Apple and Microsoft led the Information Technology sector to dominate in terms of the total dollar value of buybacks in Q2, with the IT sector accounting for 48.3% of total buyback dollar value. Together, Apple and Microsoft's buybacks account for 80.5% of repurchase dollar value within IT
  • Communications Services firms represented only 4.7% total buyback volume, but 24.9% of buyback dollar value with $9.86B in repurchases. Facebook and Alphabet accounted for 85% of the total buyback volume within the sector with a combined $8.23B in repurchases

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.

AS-Blog-Buybacks-Q2-PieChart1 (1)

Q2 Buybacks by dollar value. We looked at companies with >$5B market cap and tracked 10Q filings from Q2'20.

AS-Blog-Buybacks-Q2-PieChart2 (2)

Q2 Buybacks by dollar volume. WE looked at companies with >$5B market cap and tracked 10Q filings from Q2'20.

 

Company

April Volume

May Volume

June Volume

April Price

May Price

June Price

Amt Repurchased in Billions (Q2)

% of Market Cap Repurchased (Q2)

Biogen Inc

5,675,000

3,306,307

0

$314.05

$310.52

$0.00

$2.81

6.46%

Continental Resources

0

19,037

6,738,015

$0.00

$12.96

$16.50

$0.11

1.74%

Primerica

386,580

275,501

186,412

$91.83

$105.26

$118.04

$0.09

1.70%

Santander Consumer USA Holdings

0

2,311,500

2,599,800

$0.00

$15.09

$18.85

$0.08

1.45%

Annaly Capital Management

0

10,763,344

12,100,820

$0.00

$6.04

$6.47

$0.14

1.36%

American Financial Group

0

85,000

1,109,236

$0.00

$62.77

$63.78

$0.08

1.36%

Arrow Electronics

0

548,041

577,789

$0.00

$64.32

$69.23

$0.08

1.34%

SEI Investments Company

0

612,000

1,030,000

$0.00

$51.26

$56.39

$0.09

1.16%

GoDaddy

2,645,000

0

0

$54.35

$0.00

$0.00

$0.14

1.16%

Alexion Pharmaceuticals

300000

200,000

1,800,000

$96.68

$100.87

$115.10

$0.26

1.14%

Service Corporation International

1,097,361

369,580

810,144

$38.10

$37.24

$39.38

$0.09

1.14%

Charter Communications

557,005

604,565

1,303,238

$443.45

$512.05

$534.27

$1.25

1.05%

CBOE Global Markets

0

446,024

546,135

$0.00

$99.32

$101.54

$0.10

1.04%

Carlisle Cos

200,000

200,000

100,000

$121.38

$114.93

$128.27

$0.06

0.92%

Fiserv

4,694,000

1,017,000

0

$94.73

$103.66

$0.00

$0.55

0.84%

Bristol-Myers Squibb

21,844

6,094,821

11,661,649

$55.93

$60.70

$60.76

$1.08

0.80%

Intercontinental Exchange

1,587,000

1,351,000

1,446,000

$86.58

$93.25

$94.49

$0.40

0.76%

Fortinet

1,700,000

0

0

$99.69

$0.00

$0.00

$0.17

0.75%

Aflac Inc

1,890,000

1,721,653

1,609,905

$35.74

$34.95

$37.48

$0.19

0.74%

Alphabet

2,110,000

1,526,000

1,512,000

$1,221.24

$1,380.25

$1,434.66

$6.85

0.69%

Texas Instruments

7,463,609

0

0

$106.34

$0.00

$0.00

$0.79

0.68%

Cintas Corp

770,974

1,027

903

$262.96

$197.77

$252.73

$0.20

0.65%

Sirius XM Holdings

1,250,000

17250000

10,631,524.00

$5.92

$5.50

$5.91

$0.17

0.65%

Booz Allen Hamilton

386,417

405,677

131,259

$68.85

$72.31

$79.26

$0.07

0.59%

Old Dominion Freight

175,028

111,645

515,931

$132.83

$152.25

$171.05

$0.13

0.59%

Apple

0

20,953,000

10,380,000

$0.00

$310.22

$337.20

$10.00

0.56%

Cigna Corp

476,671

563,876

851,987

$167.03

$190.44

$193.00

$0.35

0.55%

Qorvo

137,000

118,000

477,000

$82.26

$96.73

$109.72

$0.08

0.51%

T Rowe Price

455,998

422,044

512,617

$96.22

$109.57

$120.74

$0.15

0.49%

Fair Isaac

85,760

48,853

31,595

$291.33

$388.62

$414.24

$0.06

0.45%

VeriSign

27,900

213,000

238,000

$197.18

$211.86

$209.39

$0.10

0.41%

Amgen Inc

0

809,677

1,787,649.00

$0.00

$227.93

227.46

$0.59

0.41%

Lockheed Martin

192,843

649,219

298,460.00

$366.44

$376.06

$374.65

$0.43

0.40%

Paycom Software

224,139

71,088

0

$214.90

$266.62

$0.00

$0.07

0.38%

Quidel Corp

1,286

1,115

249,476

$119.05

$179.13

$170.50

$0.04

0.36%

Pegasystems

16000

155,000

179,000

$73.07

$87.87

$97.43

$0.03

0.34%

Loew's Corp

0

200,000

798,380

$0.00

$28.58

$33.48

$0.03

0.32%

Microsoft Corp

8,906,563

9,655,700

9,648,400

$165.90

$182.31

$191.80

$5.09

0.32%

Eastman Chemical

623,751

0

0

$48.10

$0.00

$0.00

$0.03

0.30%

Pioneer Natural Resources

0

592,360

0

$0.00

$84.44

$0.00

$0.05

0.30%

Pepsico Inc

1,800,000

1,300,000

1,200,000

$125.56

$133.09

$131.49

$0.56

0.29%

Cadence Design Systems

380,920

303,335

381,402

$73.38

$82.48

$91.87

$0.09

0.29%

Equitable Holdings

0

0

1,260,910

$0.00

$0.00

$19.81

$0.02

0.27%

RPM International

386,231

1,714

18,668

$64.73

$66.41

$74.03

$0.03

0.25%

SkyWorks Solutions

660,493

31,463

0

$87.26

$97.55

$0.00

$0.06

0.25%

Northrop Grumman

397,447

0

0.00

$329.41

$0.00

$0.00

$0.13

0.24%

Verisk Analytics

430,477

0

61,052

$139.38

$0.00

$152.59

$0.07

0.23%

Visa Inc

2000000

1,000,000

2,000,000

$163.62

$187.22

$193.64

$0.90

0.22%

Xilinx

685,000

0

0

$78.38

$0.00

$0.00

$0.05

0.21%

Rockwell Automation

195,311

83,351

0

$164.85

$196.28

$0.00

$0.05

0.19%

Facebook

2,205,000

2,100,000

2,310,000

$176.65

$216.74

$231.65

$1.38

0.19%

SS&C Technologies

0

0

500,000

$0.00

$0.00

$58.62

$0.03

0.19%

Johnson & Johnson

352,899

3,474,619

901,712

$150.60

$150.35

$145.16

$0.71

0.18%

S&P Global

0

0

500,000

$0.00

$0.00

$291.99

$0.15

0.17%

The Kraft Heinz Company

144,520

1,609,590

230,309

$29.16

$30.58

$32.48

$0.06

0.15%

Nasdaq

310,707

0

0

$97.54

$0.00

$0.00

$0.03

0.14%

The Hershey Co

285,000

15,000

0

$140.15

$138.38

$0.00

$0.04

0.14%

Live Nation Entertainment

842

3,621

247,644

$39.41

$38.49

$56.95

$0.01

0.14%

Graco Inc

261,467

0

0

$46.33

$0.00

$0.00

$0.01

0.14%

Ares Capital Corp

784,048

0

0

$10.45

$0.00

$0.00

$0.01

0.13%

Bank of America

39,000

5,022,000

6,529,000

$32.12

$22.50

$26.49

$0.29

0.13%

CoreLogic

0

100,000

50,000

$0.00

$44.69

$47.46

$0.01

0.13%

Caterpillar

767,822

0

0

$113.52

$0.00

$0.00

$0.09

0.12%

Extra Space Storage

0

0

172,600

$0.00

$0.00

$90.47

$0.02

0.12%

Packaging Corp of America

4,936

656

100,510

$82.20

$93.33

$98.60

$0.01

0.11%

Cognizant Technology Solutions

887,616

0

0

$45.12

$0.00

$0.00

$0.04

0.11%

MSCI Inc

113,551

810

971

$273.79

$334.99

$323.32

$0.03

0.10%

PayPal Holdings

0

0

1,400,000

$0.00

$0.00

$161.96

$0.23

0.10%

Qualcomm

1593000

0

0

$69.01

$0.00

$0.00

$0.11

0.09%

MarketAxess Holding

6,411

27,209

3,806

$386.35

$481.60

$499.07

$0.02

0.09%

Reinsurance Group America

655

63,935

132

$106.16

$86.57

$103.00

$0.01

0.09%

Anthem Inc

6,838

2038

216,430

$204.57

$270.86

$259.31

$0.06

0.08%

Abiomed

48,448

19,201

0

$159.02

$187.79

$0.00

$0.01

0.08%

Voya Financial

82,837

12,320

14,650

$42.87

$44.71

$50.48

$0.00

0.08%

Kimberly-Clark

299,900

0

0

$130.49

$0.00

$0.00

$0.04

0.08%

CSX Corp

17,470

0

579,541

$63.69

$0.00

$67.28

$0.04

0.07%

Halliburton Co

11,759

350,177

391,292

$16.57

$11.30

$12.21

$0.01

0.07%

Gilead

263,000

267,000

265,000

$77.28

$76.52

$75.32

$0.06

0.07%

Amerisourcebergen

0

159,247

784

$0.00

$83.49

$95.15

$0.01

0.06%

Lincoln Electric Holdings

43,597

835

1,312

$69.73

$79.09

$82.02

$0.00

0.06%

Honeywell Industrial

455,825

0

0

$136.08

$0.00

$0.00

$0.06

0.06%

First American Financial

9,210

61,382

0

$43.12

$43.69

$0.00

$0.00

0.05%

Omnicom Group

3800

7,717

71,349

$51.96

$50.90

$63.90

$0.01

0.04%

Morgan Stanley

763,709

19,727

20,993

$38.98

$39.41

$43.89

$0.03

0.04%

Etsy Inc

147,477

7,327

8,306

$35.45

$64.44

$78.59

$0.01

0.04%

Monster Beverage Inc

294,985

0

0

$52.88

$0.00

$0.00

$0.02

0.04%

Welltower

286

201,947

0

$49.01

$37.89

$0.00

$0.01

0.03%

US Bancorp

365,131

190,072

10

$32.91

$33.08

$37.13

$0.02

0.03%

Corning Inc

333,031

7,511

337

$20.79

$20.58

$26.01

$0.01

0.03%

Synchrony Financial

259,963

31

472

$14.51

$16.40

$24.23

$0.00

0.03%

Pool Corp

19,400

0

0

$184.76

$0.00

$0.00

$0.00

0.03%

Mid-America Apartments LP

40,396

0

0

$97.30

$0.00

$0.00

$0.00

0.02%

Ametek

0

52,592

0

$0.00

$83.57

$0.00

$0.00

0.02%

Tyson Foods

12,857

30,389

19,421

$58.80

$60.09

$63.93

$0.00

0.02%

Genuine Parts

8,533

1704

14,782

$70.56

$73.72

$91.85

$0.00

0.02%

Arthur J Gallagher & Co

3,588

1,203

22,234.00

$80.24

$85.08

$97.74

$0.00

0.01%

Marathon Petroleum

134,736

2,228

1,035

$21.67

$29.84

$35.59

$0.00

0.01%

Tractor Supply Co

0

1,606

20,496

$0.00

$106.37

$88.44

$0.00

0.01%

Idex Corp

0

0

9,600

$0.00

$0.00

$149.44

$0.00

0.01%

Union Pacific Corp

41,125

5449

25,049

$163.16

$165.97

$182.19

$0.01

0.01%

CoStar Group

368

4621

246

$562.99

$662.97

$664.15

$0.00

0.01%

Colgate-Palmolive

31,314

31,222

29,670

$70.09

$69.42

$74.30

$0.01

0.01%

American Tower Corp

48,251

2,483

0

$214.32

$229.38

$0.00

$0.01

0.01%

CH Robinson Worldwide

6,045

1,433

8,067

$70.39

$71.70

$79.76

$0.00

0.01%

Hill-Rom Holdings

4,486

608

530

$108.18

$103.49

$105.00

$0.00

0.01%

Centene Corp

13000

14000

21,000

$66.41

$62.92

64

$0.00

0.01%

CDK Global

4,484

3,170

4,217

$34.07

$35.98

$41.41

$0.00

0.01%

Delta Airlines

20,280

19,987

7,293

$27.53

$22.36

$28.86

$0.00

0.01%

Brown & Brown

21,565

190

4,290

$36.24

$35.63

$40.86

$0.00

0.01%

Kilroy Realty

2,871

0

8,797

$61.86

$0.00

$63.34

$0.00

0.01%

Global Payments Inc

1,955

4,413

16,387

$138.74

$163.57

$179.45

$0.00

0.01%

American Express

0

28,756

28,756

$0.00

$94.26

$94.26

$0.01

0.01%

Polaris Inc

3000

3000

1000

$55.95

$65.64

$91.52

$0.00

0.01%

Domino's Pizza

1,067

967

957

$336.08

$359.07

$385.99

$0.00

0.01%

Newell Brands

996

40,274

0

$19.90

$11.73

$0.00

$0.00

0.01%

Commerce Bancshares

4,106

1,810

1,949

$51.97

$60.52

$63.55

$0.00

0.01%

The Western Union Company

6,328

11,616

11,878

$18.98

$18.90

$24.23

$0.00

0.01%

Newmont Corporation

47,889

8,686

24,355

$45.69

$48.16

$41.25

$0.00

0.01%

Zions Bancorp

0

10,665

433

$0.00

$30.84

$36.28

$0.00

0.01%

Gartner Inc

766

4,875

358

$102.51

$118.08

$121.41

$0.00

0.01%

The Walt Disney Company

60,543

35,709

31,153

$101.25

$113.41

$118.69

$0.01

0.01%

Etrade Financial

6,179

6,607

1,924

$41.42

$41.50

$49.66

$0.00

0.01%

Scotts Miracle Gro

8

872

2,259

$111.48

$127.72

$138.12

$0.00

0.00%

Prudential Financial

10,713

8,092

3,734

$55.93

$52.93

$64.54

$0.00

0.00%

Baker Hughes

2,635

25,259

13,986

$10.75

$16.84

$16.05

$0.00

0.00%

Molina Healthcare

136

2,024

408

$133.48

$180.01

$173.58

$0.00

0.00%

CMS Energy Corp

514

12,559

272

$55.71

$55.95

$59.01

$0.00

0.00%

Ingersoll Rand

0

17,185

406

$0.00

$28.94

$33.18

$0.00

0.00%

General Motors

51,252

0

0

$22.25

$0.00

$0.00

$0.00

0.00%

Host Inc

17,846

149,049

12,303

$1.02

$1.02

$1.02

$0.00

0.00%

TransUnion

1,008

883

3,060

$63.32

$77.04

$87.20

$0.00

0.00%

WW Grainger

360

220

840

$282.69

$283.63

$305.94

$0.00

0.00%

NextEra Energy

0

1419

426

$0.00

$227.85

$245.08

$0.00

0.00%

Keycorp

6,866

12,457

0

$11.09

$12.19

$0.00

$0.00

0.00%

Boeing Co

5,381

4,201

1,761

$138.98

$140.49

$165.29

$0.00

0.00%

Masimo Corp

0

1,027

0

$0.00

$213.91

$0.00

$0.00

0.00%

DTE Electric Co

426

1,456

4,421

$103.80

$118.21

$116.42

$0.00

0.00%

Healthpeak Properties

823

9,654

904

$23.52

$22.47

$27.78

$0.00

0.00%

Mondelez International

4111

6,844

14,628

$51.78

$50.83

$51.14

$0.00

0.00%

Discover Financial Services

1,379

1,942

2,111

$30.53

$41.32

$51.65

$0.00

0.00%

Encompass Health Corporation

1,102

0

425

$67.59

$0.00

$65.41

$0.00

0.00%

Cheniere Energy

1,672

3,242

0

$33.92

$43.24

$0.00

$0.00

0.00%

Zoetis

1,177

3,102

3,700

$118.40

$128.43

$139.31

$0.00

0.00%

United Rentals

1,262

876

558

$93.65

$123.94

$146.43

$0.00

0.00%

FMC Corp

2,075

95

98

$84.88

$92.44

$98.57

$0.00

0.00%

Pfizer

19,649

41,905

18,583

$32.65

$38.04

$37.24

$0.00

0.00%

EOG Resources

2,164

4,165

1,871

$46.39

$49.50

$51.01

$0.00

0.00%

Crown Castle International

1,000

2,000

2,000

$164.14

$158.99

174.34

$0.00

0.00%

Lennox International

0

248

323

$0.00

$188.90

$228.20

$0.00

0.00%

Stanley, Black & Decker

1,564

314

615.00

$106.24

$110.53

$117.81

$0.00

0.00%

Charles River Laboratories

0

569

165

$0.00

$154.99

$179.66

$0.00

0.00%

Valero Energy Corp

170

1,092

2,574

$51.11

$63.57

$65.04

$0.00

0.00%

Arthur Daniels Midland Company

4,652

1,236

1,090

$35.19

$37.69

$40.18

$0.00

0.00%

International Paper Co

302

3,156

677

$43.56

$33.52

$36.82

$0.00

0.00%

TD Ameritrade

4,413

1,084

0

$37.45

$34.95

$0.00

$0.00

0.00%

Hologic

1,764

1,585

628

$32.70

$49.40

$53.25

$0.00

0.00%

BXW Technologies

0

889

0

$0.00

$53.13

$0.00

$0.00

0.00%

Automatic Data Processing

2,377

205

939

$146.69

$146.69

$148.89

$0.00

0.00%

Cerner Corp

0

0

2,419

$0.00

$0.00

$72.59

$0.00

0.00%

Franklin Resources

2,942

741

263

$16.83

$18.87

$20.85

$0.00

0.00%

Phillip Morris

4,667

836

3,360

$74.29

$74.47

$70.43

$0.00

0.00%

Rexford Industrial Realty

776

0

0

$37.30

$0.00

$0.00

$0.00

0.00%

Sonoco Products

75

91

75

$48.36

$50.51

$53.87

$0.00

0.00%

Church & Dwight Co

0

0

623

$0.00

$0.00

76.15

$0.00

0.00%

Idexx Laboratories

0

0

207.00

$0.00

$0.00

$312.19

$0.00

0.00%

Robert Half

0

0

184

$0.00

$0.00

$51.60

$0.00

0.00%

Boston Beer Inc

59

0

31

$145.01

$0.00

187.54

$0.00

0.00%

Principal Financial Group

425

0

0

$31.38

$0.00

$0.00

$0.00

0.00%

Coca-Cola Co

2,886

1,334

295

$44.70

$46.15

$46.67

$0.00

0.00%

3M

86

0

0

$133.13

$0.00

$0.00

$0.00

0.00%

Moody's

839

540

923

NA

NA

NA

NA

NA

Masco Corp

0

2,267,385

0

$0.00

NA

$0.00

NA

NA

Equifax

1,513

879

360

NA

NA

NA

NA

NA

 

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