Buyback activity declined slightly last week with 12 companies announcing buybacks. Three out of these 10 companies happened to be banks. Medical diagnostics and devices company Hologic (HOLX) and oil refiner HF Sinclair Corporation (DINO) announced $1 billion buybacks each representing around 6.4% and 9.2% of their market caps at announcement respectively.
The buyback announcement that stood out last week in terms of the size of the announcement was the $3 billion additional buyback announced by Accenture (ACN) on September 22. The consulting giant also announced an additional $3 billion buyback last September. The company serves clients in more than 120 countries.