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Share Name | Share Symbol | Market | Type |
---|---|---|---|
DaVita Inc | NYSE:DVA | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
2.96 | 2.03% | 148.80 | 151.05 | 145.30 | 146.29 | 1,105,894 | 01:00:00 |
NEW YORK, Dec. 17, 2019 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") announced today that preliminary Q3 2019 S&P 500® stock buybacks, or share repurchases, were $175.9 billion – a 6.3% increase over Q2 2019's $165.5 billion. This was the first increase after two consecutive quarters of declines since the record $223 billion in Q4 2018.
Historical data on S&P 500 buybacks are available at www.spdji.com/indices/equity/sp-500.
Key Takeaways:
"After lowering expenditures in the first half of the year from their tax-inspired record-setting buying spree of 2018, companies increased their share repurchases by 6.3% in the third quarter," said Howard Silverblatt, Senior Index Analyst at S&P Dow Jones Indices. "While the levels still pale in comparison to 2018, they are significantly higher than the pre-2018 levels, and surpass the hoped for $170 billion mark, which was seen as the level needed to support stocks and continue reduced share count EPS growth. For Q4, the market is looking for another increase in buybacks, in the mid-single digit range, staying near the $190 billion level, well shy of the Q4 2018 record-setting $223 billion."
Silverblatt also found that buybacks continue to be top heavy, with the top 20 issues accounting for 50.4% of the buybacks, compared to the 10-year average of 44.5%.
Q3 2019 GICS® Sector Analysis:
Information Technology buybacks continued to decline as a percentage of all buybacks, as they decreased 10.8% to $49.2 billion compared to $55.2 billion for Q2 2019. Twelve-month expenditures were down 7.6% to $233.7 billion from the $253.0 billion spent in the same period in 2018. The sector represents 28.0% of the index's buybacks, down from Q2 2019's 33.4% and 40.4% in Q3 2018.
Financials were right behind Information Technology for expenditures, as they increased 26.4% to $47.8 billion, up from last quarter's $37.8 billion. They represented 27.2% of all buybacks, up from 22.9% in Q2 2019, and are less than one percentage point away from Information Technology's 28.0%.
Materials buybacks continued to be volatile, as they increased 123.1% after declining 49.3% last quarter, spending $5.4 billion on buybacks, up from $2.4 billion last quarter and down from $4.8 billion for Q1 2019. Utilities again declined, spending 11.1% less, to $0.8 billion from last quarter's $0.9 billion and $1.5 billion in Q1 2019.
Health Care buybacks declined 6.2%, to $16.0 billion, from last quarter's $17.1 billion, as they represent 9.1% of all buybacks, down from last quarter's 10.3%.
Issues:
The five issues with the highest total buybacks for Q3 2019 are:
For more information about S&P Dow Jones Indices, please visit www.spdji.com.
S&P Dow Jones Indices | ||||||||
S&P 500, $ U.S. BILLIONS (preliminary and estimates in bold) | ||||||||
PERIOD | MARKET | OPERATING | AS REPORTED | DIVIDEND & | ||||
VALUE | EARNINGS | EARNINGS | DIVIDENDS | BUYBACKS | DIVIDEND | BUYBACK | BUYBACK | |
$ BILLIONS | $ BILLIONS | $ BILLIONS | $ BILLIONS | $ BILLIONS | YIELD | YIELD | YIELD | |
12 Mo Sep,'19 | $24,706.92 | $1,274.15 | $1,106.84 | $478.94 | $770.14 | 1.94% | 3.12% | 5.06% |
12 Mo Sep,'18 | $24,579.28 | $1,276.77 | $1,106.65 | $445.96 | $720.40 | 1.81% | 2.93% | 4.75% |
2018 | $21,026.90 | $1,281.66 | $1,119.43 | $456.31 | $806.41 | 2.17% | 3.84% | 6.01% |
2017 | $22,821.24 | $1,066.00 | $940.86 | $419.77 | $519.40 | 1.84% | 2.28% | 4.12% |
2016 | $19,267.93 | $919.85 | $818.55 | $397.21 | $536.38 | 2.06% | 2.78% | 4.85% |
9/30/2019 | $24,707 | $330.51 | $282.12 | $123.12 | $175.89 | 1.94% | 3.12% | 5.06% |
6/28/2019 | $24,423 | $333.26 | $290.00 | $118.68 | $165.46 | 1.93% | 3.27% | 5.20% |
3/29/2019 | $23,619 | $316.56 | $291.82 | $117.33 | $205.81 | 1.97% | 3.49% | 5.45% |
12/31/2018 | $21,027 | $293.82 | $242.91 | $119.81 | $222.98 | 2.17% | 3.84% | 6.01% |
9/30/2018 | $24,579 | $349.04 | $306.70 | $115.72 | $203.76 | 1.81% | 2.93% | 4.75% |
6/30/2018 | $23,036 | $327.53 | $288.55 | $111.60 | $190.62 | 1.89% | 2.80% | 4.69% |
3/29/2018 | $22,496 | $311.26 | $281.28 | $109.18 | $189.05 | 1.90% | 2.56% | 4.46% |
12/29/2017 | $22,821 | $288.93 | $230.12 | $109.46 | $136.97 | 1.84% | 2.28% | 4.12% |
9/29/2017 | $21,579 | $268.35 | $243.68 | $105.45 | $129.17 | 1.92% | 2.40% | 4.32% |
6/30/2017 | $20,762 | $261.39 | $231.40 | $104.01 | $120.11 | 1.96% | 2.41% | 4.37% |
3/31/2017 | $20,276 | $247.32 | $235.65 | $100.86 | $133.15 | 1.98% | 2.51% | 4.49% |
12/31/2016 | $19,268 | $240.11 | $207.93 | $103.82 | $135.29 | 2.06% | 2.78% | 4.85% |
9/30/2016 | $18,742 | $247.98 | $219.46 | $98.43 | $112.20 | 2.10% | 2.92% | 5.01% |
6/30/2016 | $18,193 | $222.77 | $201.79 | $98.30 | $127.50 | 2.14% | 3.22% | 5.36% |
3/31/2016 | $17,958 | $208.99 | $189.37 | $96.67 | $161.39 | 2.15% | 3.28% | 5.43% |
12/31/2015 | $17,900 | $201.95 | $163.76 | $99.39 | $145.88 | 2.14% | 3.20% | 5.33% |
9/30/2015 | $16,917 | $224.14 | $204.58 | $95.07 | $150.58 | 2.22% | 3.30% | 5.52% |
S&P Dow Jones Indices | |||||||
S&P 500 SECTOR BUYBACKS | |||||||
SECTOR $ MILLIONS | Q3,'19 | Q2,'19 | Q3,'18 | 12MoSep,'19 | 12MoSep,'18 | 5-YEARS | 10-YEARS |
Consumer Discretionary | $18,372 | $15,764 | $19,688 | $77,509 | $81,798 | $426,508 | $742,619 |
Consumer Staples | $7,509 | $7,114 | $10,025 | $33,997 | $34,351 | $208,836 | $440,792 |
Energy | $4,880 | $4,552 | $7,330 | $22,423 | $26,932 | $88,212 | $264,332 |
Financials | $47,789 | $37,819 | $40,643 | $174,094 | $138,316 | $621,259 | $859,660 |
Healthcare | $16,007 | $17,066 | $14,482 | $95,158 | $93,170 | $410,508 | $699,142 |
Industrials | $14,181 | $16,967 | $15,159 | $73,600 | $66,775 | $354,187 | $556,114 |
Information Technology | $49,241 | $55,187 | $82,293 | $233,713 | $253,044 | $871,620 | $1,373,018 |
Materials | $5,400 | $2,420 | $3,014 | $18,449 | $10,601 | $61,764 | $113,442 |
Real Estate | $694 | $555 | $520 | $3,138 | $3,602 | $10,029 | $10,029 |
Communication Services | $11,028 | $7,132 | $10,092 | $34,061 | $10,690 | $52,070 | $83,086 |
Utilities | $784 | $882 | $509 | $3,994 | $1,119 | $9,142 | $18,756 |
TOTAL | $175,886 | $165,458 | $203,756 | $770,135 | $720,397 | $3,114,135 | $5,160,989 |
S&P Dow Jones Indices | ||||||||
S&P 500 20 LARGEST Q3 2019 BUYBACKS, $ MILLIONS | ||||||||
Company | Ticker | Sector | Q3 2019 | 12-Months | 12-Months | 5-Year | 10-Year | Indicated |
Buybacks | Sep,'19 | Sep,'18 | Buybacks | Buybacks | Dividend | |||
$ Million | $ Million | $ Million | $ Million | $ Million | $ Million | |||
Apple | AAPL | Information Technology | $17,635 | $69,714 | $75,265 | $247,797 | $320,049 | $14,808 |
Bank of America | BAC | Financials | $7,626 | $25,627 | $19,732 | $60,790 | $65,685 | $7,447 |
Wells Fargo | WFC | Financials | $7,459 | $24,757 | $16,518 | $68,966 | $87,356 | $9,877 |
JPMorgan Chase | JPM | Financials | $6,949 | $23,178 | $18,863 | $68,851 | $90,405 | $11,511 |
Alphabet | GOOGL | Communication Services | $5,696 | $14,948 | $8,526 | $31,692 | $32,610 | $0 |
Oracle | ORCL | Information Technology | $5,519 | $31,816 | $21,366 | $74,484 | $105,087 | $4,852 |
Citigroup | C | Financials | $4,978 | $12,855 | $15,800 | $53,997 | $57,889 | $4,608 |
Microsoft | MSFT | Information Technology | $4,912 | $20,711 | $11,895 | $74,488 | $116,365 | $15,576 |
Intel | INTC | Information Technology | $4,521 | $11,874 | $8,464 | $34,421 | $65,163 | $5,582 |
LyondellBasell | LYB | Materials | $3,240 | $4,805 | $801 | $15,507 | $21,803 | $1,829 |
Procter & Gamble | PG | Consumer Staples | $3,000 | $6,751 | $5,754 | $24,090 | $53,999 | $7,458 |
Charter Communications | CHTR | Communication Services | $2,767 | $5,753 | $7,181 | $22,283 | $23,066 | $0 |
Starbucks | SBUX | Consumer Discretionary | $2,255 | $10,334 | $7,196 | $23,269 | $26,278 | $1,963 |
Visa | V | Information Technology | $2,132 | $8,718 | $7,286 | $33,238 | $46,605 | $2,072 |
Mastercard | MA | Information Technology | $1,803 | $6,553 | $5,156 | $21,721 | $30,291 | $1,803 |
DaVita | DVA | Health Care | $1,764 | $1,837 | $1,643 | $4,973 | $5,876 | $0 |
FB | Communication Services | $1,739 | $8,661 | $13,886 | $26,001 | $29,756 | $0 | |
Johnson & Johnson | JNJ | Health Care | $1,628 | $10,128 | $2,875 | $35,636 | $60,511 | $10,029 |
Morgan Stanley | MS | Financials | $1,538 | $5,633 | $5,664 | $21,297 | $24,020 | $3,045 |
McDonald's | MCD | Consumer Discretionary | $1,468 | $4,458 | $5,029 | $31,806 | $44,772 | $3,797 |
Top 20 | $88,629 | $309,111 | $258,900 | $975,307 | $1,307,586 | $106,257 | ||
S&P 500 | $175,886 | $770,135 | $720,397 | $3,114,135 | $5,160,989 | $546,855 | ||
Top 20 % of S&P 500 | 50.39% | 40.14% | 35.94% | 31.32% | 25.34% | 19.43% | ||
Gross values are not adjusted for float |
S&P Dow Jones Indices | ||||
S&P 500 20 Largest Quarterly Buybacks, $ Millions, as of Q3 2019; Apple added at #8 | ||||
$ MILLIONS | QUARTER | COMPANY | SECTOR | |
$23,811 | Q1 2019 | Apple | Information Technology | 1 |
$22,908 | Q1 2018 | Apple | Information Technology | 2 |
$21,860 | Q2 2018 | Apple | Information Technology | 3 |
$21,162 | Q2 2006 | QUALCOMM | Information Technology | 4 |
$19,364 | Q3 2018 | Apple | Information Technology | 5 |
$18,154 | Q2 2019 | Apple | Information Technology | 6 |
$18,036 | Q1 2014 | Apple | Information Technology | 7 |
$17,635 | Q3 2019 | Apple | Information Technology | 8 |
$17,319 | Q3 2014 | Apple | Information Technology | 9 |
$16,413 | Q2 2013 | Apple | Information Technology | 10 |
$15,707 | Q3 2007 | International Business Machines | Information Technology | 11 |
$13,420 | Q3 2015 | Apple | Information Technology | 12 |
$12,852 | Q4 2013 | Johnson & Johnson | Healthcare | 13 |
$12,318 | Q4 2016 | Allergan plc | Healthcare | 14 |
$12,183 | Q2 2012 | Johnson & Johnson | Healthcare | 15 |
$11,480 | Q4 2016 | Apple | Information Technology | 16 |
$11,133 | Q4 2017 | Apple | Information Technology | 17 |
$10,776 | Q2 2016 | Apple | Information Technology | 18 |
$10,724 | Q2 2015 | Apple | Information Technology | 19 |
$10,723 | Q1 2016 | Home Depot | Consumer Discretionary | 20 |
S&P Dow Jones Indices | ||||
S&P 500 Q3 2019 Buyback Report | ||||
SECTOR | DIVIDEND | BUYBACK | COMBINED | |
YIELD | YIELD | YIELD | ||
Consumer Discretionary | 1.65% | 3.08% | 4.73% | |
Consumer Staples | 3.63% | 1.78% | 5.41% | |
Energy | 4.11% | 1.96% | 6.07% | |
Financials | 2.35% | 4.83% | 7.18% | |
HealthCare | 1.78% | 2.56% | 4.34% | |
Industrials | 2.02% | 3.03% | 5.06% | |
Information Technology | 1.44% | 3.87% | 5.32% | |
Materials | 2.26% | 2.67% | 4.93% | |
Real Estate | 3.36% | 0.41% | 3.77% | |
Communications Services | 1.53% | 1.49% | 3.01% | |
Utilities | 3.17% | 0.46% | 3.63% | |
S&P 500 | 2.11% | 2.96% | 5.07% | |
Uses full values (unadjusted for float) | ||||
Dividends based on indicated; buybacks based on the last 12-months ending Q3,'19 |
Share Count Reduction (SCR) | SCR | SCR |
(Y/Y diluted shares used for EPS) | >=4% | <=-4% |
Q3 2019 | 8.62% | 22.85% |
Q2 2019 | 7.98% | 24.15% |
Q1 2019 | 8.03% | 24.90% |
Q4 2018 | 8.45% | 18.71% |
Q3 2018 | 6.43% | 17.67% |
Q2 2018 | 6.20% | 15.60% |
Q1 2018 | 7.01% | 13.63% |
Q4 2017 | 6.83% | 15.06% |
Q3 2017 | 8.62% | 14.23% |
Q2 2017 | 10.00% | 14.00% |
Q1 2017 | 12.00% | 14.80% |
Q4 2016 | 10.48% | 19.35% |
Q3 2016 | 9.94% | 23.73% |
ABOUT S&P DOW JONES INDICES
S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit: www.spdji.com.
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