Guzman Share Repurchase Report with 2016 Review – December 2016
Guzman & Company’s Investment Banking team released its Share Repurchase Update for December 2016.
Summary: In 2016, there were 575 share repurchase announcements greater than $25MM, representing volume of approximately $575MM. While volume is ultimately down -19% Y-o-Y, the average announcement size was just shy of $BN, up +12% from 2015. The technology sector led the way, comprising 24% of all authorizations, including, by far, the two biggest announcements of the year in Microsoft ($40BN) and Apple ($3 BN). As we noted in last month’s review of Q3’16 buyback activity, we don’t expect volumes to drop significantly, if at all, in 2017 with current cash levels at record highs and with the possibility of an additional windfall of cash that could be repatriated stemming from tax policy reform.
Read full analysis here: Monthly Share Repurchase Update December 2016 w. 2016 review.pdf