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The House of Representatives passed the Inflation Reduction Act on Aug. 12. It now goes to President Joe Biden's desk.
The 1% excise tax on buybacks that is part of the Inflation Reduction Act has spurred questions regarding the implications for investors. In a note to clients, Goldman Sachs' David Kostin estimated that the proposed 1% excise tax on buybacks would reduce earnings per share by about 0.5%, CNBC's Bob Pisani reported on Monday.
Earnings season gets underway in less than two weeks. Firms may attempt to lower the bar by issuing weak EPS guidance.
As prices declined and market volatility rose, companies continued their record-breaking buyback and dividend expenditures in the first quarter and are expected to maintain their buyback activities for Q2 through the ongoing price downturn. The record expenditures led to 17.6% of the companies in the S&P 500 increasing their earnings-per-share by at least 4%, thanks [.
The Invesco BuyBack Achievers ETF selects Nasdaq-traded companies that have reduced shares outstanding by at least 5% in the last year. Annual fees are significant at 0.64%. The strategy hasn't outperformed the S&P 500 since December 2015 on a three-year rolling basis, despite a higher beta that should have benefitted the portfolio in a mostly bullish market.
Following a recent report that U.S. dividends surged to a new high in dollar terms in the first quarter, it's not a stretch to say that some investors are prizing payouts over share repurchase programs. However, market participants shouldn't gloss over opportunity with shares of companies that are dedicated buyers of their own stock.
With quarterly earnings ahead, stock buybacks are hitting record highs, according to Reuters. This can pave the way for investors looking for exchange traded funds (ETFs) that focus on stock buybacks.
Share buyback programs swelled in the January through March period, perhaps giving investors more reason to consider exchange traded funds such as the Invesco BuyBack Achievers ETF (NASDAQ: PKW). “New repurchase announcements by U.S. companies reached over $300 billion in the first quarter, with March showing a strong year over year increase, suggesting buybacks have [.