In this article, we discuss 5 stocks with the biggest buybacks. If you want to see more stocks with the biggest buybacks, the risk/reward, and methodology of this list, go directly to 10 Stocks with the Biggest Buybacks.
5. Exxon Mobil Corporation (NYSE:XOM)
Q3 2022 Buybacks (Million): $4,494
Number of Hedge Fund Holders: 75
Exxon Mobil Corporation (NYSE:XOM) is an oil and gas giant with a huge stock buyback. Whereas the company previously had a stock buyback program of $30 billion through 2023, Exxon Mobil Corporation (NYSE:XOM) now has a $50 billion program through 2024 given stronger earnings as a result of higher oil and gas prices. In Q3 2022 alone, Exxon Mobil Corporation (NYSE:XOM) bought back nearly $4.5 billion worth of its stock. Oil and gas prices have increased given the Russia Ukraine war has reduced supply from Russia.
4. Microsoft Corporation (NASDAQ:MSFT)
Q3 2022 Buybacks (Million): $5,573
Number of Hedge Fund Holders: 269
Given it has consistently been one of the most profitable companies in the world, Microsoft Corporation (NASDAQ:MSFT) is a stock with a huge buyback. In terms of its buyback policy, Microsoft Corporation (NASDAQ:MSFT)’s board announced a stock repurchase program of as much as $60 billion in 2021. In Q3 2022, Microsoft Corporation (NASDAQ:MSFT) put the buyback program into use by buying almost $5.6 billion worth of its shares. Microsoft Corporation (NASDAQ:MSFT) is one of the most widely held stocks among elite funds in our database with 269 hedge funds holding shares at the end of the third quarter.
3. Meta Platforms, Inc. (NASDAQ:META)
Q3 2022 Buybacks (Million): $7,365
Number of Hedge Fund Holders: 177
Considering it doesn’t pay a dividend, Meta Platforms, Inc. (NASDAQ:META) has returned much of its excess capital through buybacks. In Q3 2022 alone, the company bought back almost $7.4 billion shares, ranking #3 on our list of 10 Stocks with the Biggest Buybacks. As of October, Meta Platforms, Inc. (NASDAQ:META) has around $24 billion left on its share buyback authorization. If Meta Platforms, Inc. (NASDAQ:META)’s profits increase, it is likely Mark Zuckerberg will add more in the long term.
2. Alphabet Inc. (NASDAQ:GOOG)
Q3 2022 Buybacks (Million): $15,392
Number of Hedge Fund Holders: 156
Alphabet Inc. (NASDAQ:GOOG) was the second biggest buyback stock in Q3 2022 with almost $15.4 billion worth of buybacks in the period. Alphabet Inc. (NASDAQ:GOOG) has a history of buying back stock given the company’s board in April 2022 authorized $70 billion in share repurchases, which by itself would dwarf the market capitalizations of many S&P 500 components. 156 hedge funds in our database owned shares of Alphabet Inc. (NASDAQ:GOOG) at the end of Q3.
1. Apple Inc. (NASDAQ:AAPL)
Q3 2022 Buybacks (Million): $24,736
Number of Hedge Fund Holders: 140
Apple Inc. (NASDAQ:AAPL) ranks #1 on our list of 10 Stocks with the Biggest Buybacks given its Q3 2022 buyback of $24.7 billion. In the past decade, the company has spent $550 billion on share repurchases, which by itself would be more than the current market capitalization of Meta Platforms, Inc. (NASDAQ:META) and multiple S&P 500 companies combined. Since it hasn’t spent money on major acquisitions and its dividend isn’t very substantial relative to its size, Apple Inc. (NASDAQ:AAPL) has returned most of its excess capital through buybacks. If its profits continue to grow, it is likely Apple Inc. (NASDAQ:AAPL) will buy back even more of its stock in the long term.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also take a look at U.S. States’ GDP Compared to Countries and 25 Biggest New York Companies and Stocks.
