Markets

Insider Trading

Hedge Funds

Retirement

Opinion

10 Companies That Announced Huge Share Buybacks Recently

In this article, we discuss the 10 companies that announced huge share buybacks recently. If you want to read about some more firms that just announced share buybacks, go directly to 5 Companies That Announced Huge Share Buybacks Recently.

During a recession, companies may experience a decline in their stock prices due to economic uncertainties and market volatility. By engaging in share buybacks, companies can repurchase their own shares from the market, reducing the total number of outstanding shares. This reduction in supply can help support and stabilize the stock price, instilling confidence among investors and signaling that the company believes in its own long-term prospects. These buybacks provide an efficient way for companies to utilize their excess cash. Instead of hoarding cash reserves or making large capital expenditures during an economic downturn, companies can use their funds to repurchase shares. This action can enhance shareholder value by increasing earnings per share (EPS) and improving financial metrics such as return on equity (ROE).

Furthermore, buybacks can be seen as a signal of financial strength and stability. Companies that have sufficient cash reserves to repurchase shares in a recession demonstrate their ability to weather economic downturns and generate future profits. This can attract investors and contribute to a positive perception of the company’s financial health. Additionally, share buybacks can provide a tax-efficient way to distribute excess cash to shareholders. By repurchasing shares, companies can return value to shareholders without incurring the same tax liabilities as dividends. This can be particularly advantageous for investors in higher tax brackets. Buyback activity in the second quarter of 2022 in US was close to a record level as companies continued to utilize their buyback plans.

A total of 1,323 companies reported repurchases, a 4% increase from the previous quarter. The breadth of buybacks has been consistently expanding for multiple quarters, reaching its highest level since the first quarter of 2020 when nearly 1,400 companies engaged in buybacks. In the second quarter of 2022, 58% of companies with open buyback authorizations repurchased shares, marking a continued upward trend. Additionally, 197 companies initiated new buyback plans, and 159 companies increased existing plans, resulting in a combined figure of 356, representing a downturn of 12.7% from the first quarter of 2022.  In terms of volume, buybacks by US companies experienced a sequential decrease of 15% in the second quarter of 2022, but still saw a year-over-year increase of 21%.

The total buyback volume for US companies in Q2’22 amounted to $269.5 billion, which was a 14.9% decrease from the record-setting $316.9 billion in the first quarter of 2022. Despite the quarter-on-quarter drop, the dollar value of buybacks showed a significant increase of 20.6% compared to the same period in the previous year. Buyback volume reached new all-time highs in each quarter from the third quarter of 2021 through the first quarter of 2022, and the second quarter of 2022 figure slightly exceeded the third quarter of 2021 figure. However, it is worth noting that share buybacks can also be a subject of debate. Critics argue that companies should prioritize investments in research and development, employee wages, or capital expenditures instead of repurchasing shares.

They claim that buybacks can artificially inflate stock prices and benefit shareholders, including executives with stock-based compensation, at the expense of long-term growth and job creation. Share buybacks have been a prevalent trend in the United States over the past few decades. Companies use share buybacks as a strategy to return capital to shareholders and manage their capital structure. The trend gained significant momentum after the implementation of the Tax Reform Act of 1986, which imposed restrictions on dividend tax treatment but allowed for more favorable tax treatment of capital gains from stock sales. Another factor was the availability of low-cost debt due to historically low interest rates.  Companies took advantage of this opportunity to borrow funds and finance their share buyback programs.

This approach became especially popular among large corporations, which had access to more favorable lending terms and greater financial resources. In recent years, share buybacks have attracted public and political scrutiny. Critics argue that buybacks primarily benefit shareholders, including top executives with stock-based compensation, rather than investing in long-term growth, increasing employee wages, or other capital expenditures. This debate has led to calls for stricter regulations on buybacks or alternative uses of corporate funds. Despite the criticism, share buybacks remain a significant feature of the US corporate landscape. Many companies continue to use buybacks as a means to enhance shareholder value, manage their capital structure, and signal confidence in their future prospects.

The COVID-19 pandemic and associated economic uncertainties have impacted buyback activity, with some companies suspending or reducing their programs to conserve cash. However, as economic conditions stabilize, it is expected that share buybacks will resume their role as a key tool in capital allocation for US companies. Some of the stocks to monitor in this context include Apple Inc. (NASDAQ:AAPL), Meta Platforms, Inc. (NASDAQ:META), and Alphabet Inc. (NASDAQ:GOOG). 

Speedcurve Performance Analytics

Our Methodology

For this article, we selected stocks that have announced share buybacks this year and ranked them based on overall hedge fund sentiment. We have assessed the hedge fund sentiment from Insider Monkey’s database of 943 elite hedge funds tracked as of the end of the first quarter of 2023. The list is arranged in ascending order of the number of hedge fund holders in each firm. 

Companies That Announced Huge Share Buybacks Recently

10. ArcelorMittal (NYSE:MT)

Number of Hedge Fund Holders: 19

ArcelorMittal (NYSE:MT) operates as integrated steel and mining companies in the Americas, Europe, Asia, and Africa. On May 5, the company announced that it would be commencing a new share buyback program of up to 85 million shares. The program will be completed within two years, per the firm. The firm also said that the amount of shares repurchased through this program will depend on the level of post-dividend free cash flow generated over the period. 

In late March, investment advisory Morgan Stanley maintained an Overweight rating on ArcelorMittal (NYSE:MT) stock and lowered the price target to EUR 37.5 from EUR 38. Analyst Alain Gabriel issued the ratings update. 

At the end of the first quarter of 2023, 19 hedge funds in the database of Insider Monkey held stakes worth $492 million in ArcelorMittal (NYSE:MT), up from 13 in the preceding quarter worth $580 million.

Just like Apple Inc. (NASDAQ:AAPL), Meta Platforms, Inc. (NASDAQ:META), and Alphabet Inc. (NASDAQ:GOOG), ArcelorMittal (NYSE:MT) is one of the stocks trending on the up after announcing share buybacks. 

9. Golar LNG Limited (NASDAQ:GLNG)

Number of Hedge Fund Holders: 33     

Golar LNG Limited (NASDAQ:GLNG) is an LNG transportation firm. On May 23, Golar LNG announced a share buyback program worth up to $150 million. Additionally, the company also reinstated a quarterly dividend of $0.25 per share, ensuring regular income for shareholders. The last quarterly dividend of the firm was $0.15 per share and was declared in May 2019. For the first quarter of 2023, the company posted a revenue of nearly $74 million, up more than 1% compared to the revenue over the same period last year.

On April 24, investment advisory Stifel maintained a Buy rating on Golar LNG Limited (NASDAQ:GLNG) stock and lowered the price target to $34 from $35, noting the adjustment reflected estimates for companies with LNG price exposure.

At the end of the first quarter of 2023, 33 hedge funds in the database of Insider Monkey held stakes worth $607 million in Golar LNG Limited (NASDAQ:GLNG), compared to 38 the preceding quarter worth $774 million.

In its Q2 2022 investor letter, Horos Asset Management, an asset management firm, highlighted a few stocks and Golar LNG Limited (NASDAQ:GLNG) was one of them. Here is what the fund said:

“This quarter we sold our entire stake in Golar LNG Limited (NASDAQ:GLNG). As we highlighted in our previous letter, the company engaged in the conversion of natural gas into liquefied natural gas (FLNG infrastructures), the storage of LNG and regasification through FSRU and the transportation of LNG (with its stake in Cool Company), has benefited greatly from the current tightness in the natural gas market, derived from the energy transition and, indeed, aggravated by the Russian invasion of Ukraine and the various sanctions and measures taken by the Western nations against the country led by Vladimir Putin. On the one hand, its market value relative to our intrinsic value estimate has considerably narrowed following its outstanding performance. On the other hand, our search for a more favorable riskreturn setup in the natural gas market led us to sell Golar LNG and to invest, as we will discuss below, in its spin-off Cool Company.”

8. Align Technology, Inc. (NASDAQ:ALGN)

Number of Hedge Fund Holders: 39   

Align Technology, Inc. (NASDAQ:ALGN) designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists. In February, the firm announced a new accelerated share buyback agreement with Citibank to repurchase $250 million of the company’s common stock. The deal is in line with Align’s $1 billion stock repurchase program announced back in 2021. 

On April 27, investment bank Piper Sandler maintained an Overweight rating on Align Technology, Inc. (NASDAQ:ALGN) stock and raised the price target to $370 from $360, appreciating the near-term revenue and earnings trajectory of the firm. 

Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Align Technology, Inc. (NASDAQ:ALGN) with 1.3 million shares worth more than $451 million.

7. United Parcel Service, Inc. (NYSE:UPS)

Number of Hedge Fund Holders: 39    

United Parcel Service, Inc. (NYSE:UPS) provides letter and package delivery, transportation, logistics, and related services. Earlier this year, the company announced that it had authorized a $5 billion share buyback plan to enhance growth prospects. The new program replaced existing share buyback authorizations. In addition to share buybacks that boost investor confidence, the firm also pays a handsome dividend to shareholders. On May 3, the firm announced a quarterly dividend of $1.62 per share, in line with previous. The forward yield was 3.69%. 

On June 2, investment advisory Barclays maintained an Equal Weight rating on United Parcel Service, Inc. (NYSE:UPS) stock and lowered the price target to $172 from $180, noting that near-term UPS headwinds hinge on the outcome of Teamster labor negotiations. 

At the end of the first quarter of 2023, 39 hedge funds in the database of Insider Monkey held stakes worth $476 million in United Parcel Service, Inc. (NYSE:UPS), compared to 36 in the previous quarter worth $514 million.

In its Q2 2022 investor letter, Mayar Capital, an asset management firm, highlighted a few stocks and United Parcel Service, Inc. (NYSE:UPS) was one of them. Here is what the fund said:

“United Parcel Service, Inc. (NYSE:UPS) has been a beneficiary of the pandemic-related shift to e-commerce. Revenues increased 15% in the year, with strong leverage in the business boosting operating profit by al- most 67%. Management is focusing on a ‘Better not Bigger’ strategy for the business and divested the UPS Freight business early in the year. Mean- while, the company is expected to increase distributions to shareholders in 2022, from both dividends and share buybacks.” 

6. Shell plc (NYSE:SHEL)

Number of Hedge Fund Holders: 41 

Shell plc (NYSE:SHEL) is an energy and petrochemical firm. On May 4, Shell announced plans to buy back an additional $4 billion worth of shares as its profits exceeded estimates. The decision to repurchase shares comes as Shell seeks to distribute excess cash to shareholders and drive up returns. In the previous quarter, the firm had recorded $4 billion in share buybacks as well. The company posted a revenue of more than $86 billion in the first quarter of 2023, up over 3% compared to the revenue over the same period last year. 

On May 18, Piper Sandler analyst Ryan Todd maintained an Overweight rating on Shell plc (NYSE:SHEL) stock and lowered the price target to $75 from $77, noting that energy stocks continue to struggle to regain traction coming out of Q1 earnings season. 

At the end of the first quarter of 2023, 41 hedge funds in the database of Insider Monkey held stakes worth $2.7 billion in Shell plc (NYSE:SHEL), compared to 40 in the previous quarter worth $3 billion.

Alongside Apple Inc. (NASDAQ:AAPL), Meta Platforms, Inc. (NASDAQ:META), and Alphabet Inc. (NASDAQ:GOOG), Shell plc (NYSE:SHEL) is one of the stocks trending on the up after announcing share buybacks. 

In its Q4 2022 investor letter, Artisan Partners, an asset management firm, highlighted a few stocks and Shell plc (NYSE:SHEL) was one of them. Here is what the fund said:

“We scaled back our weighting in clean energy this quarter, which is a part of the portfolio’s environment theme, to take profits after a successful run in 2022. We did so by trimming our position in Shell plc (NYSE:SHEL), a stock we added to the portfolio in Q1 2022. As an integrated energy company, approximately one third of Shell’s revenues come from transition fuels, such as LNG, and another third comes from new energy sources such as green hydrogen. LNG is one of the cleanest fossil fuels and represents a potential bridge to the future by replacing higher carbon energy sources with lower carbon ones while renewable technologies mature. As the largest LNG supplier in the world, we believe Shell is particularly well-positioned to help Europe meet its energy needs as it looks for ways to replace imported Russian oil and gas with new sources after the embargo.”

Click to continue reading and see 5 Companies That Announced Huge Share Buybacks Recently.

Suggested Articles:

Disclose. None. 10 Companies That Announced Huge Share Buybacks Recently is originally published on Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

The best part? You can discover everything about this company and its groundbreaking technology right now.

I’ve compiled everything you need to know about this groundbreaking company in a detailed, members-only report.

Trust me — you’ll want to read this report before putting another dollar into any tech stock.

For a ridiculously low price of just $9.99 a month, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single fast food meal!

Here’s why this is a deal you can’t afford to pass up:

• Access to our Detailed Report on this Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.

• 11 New Issues of Our Premium Readership Newsletter: You will also receive 11 new issues and at least one new stock pick per month from our monthly newsletter’s portfolio over the next 12 months. These stocks are handpicked by our research director, Dr. Inan Dogan.

• One free upcoming issue of our 70+ page Quarterly Newsletter: A value of $149

• Bonus Reports: Premium access to members-only fund manager video interviews

• Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.

• 30-Day Money-Back Guarantee:  If you’re not absolutely satisfied with our service, we’ll provide a full refund within 30 days, no questions asked.

If you’re thinking about getting in, don’t wait – because once Wall Street catches wind of this story, the easy money will be gone.

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $9.99 a month.

2. Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a month later!

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

“AI will run out of electricity by next year.”

As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

And that’s where the real opportunity lies…

One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

  • It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
  • It’s one of the only global companies capable of executing large-scale, complex EPC (engineering, procurement, and construction) projects across oil, gas, renewable fuels, and industrial infrastructure.
  • It plays a pivotal role in U.S. LNG exportation—a sector about to explode under President Trump’s renewed “America First” energy doctrine.

Trump has made it clear: Europe and U.S. allies must buy American LNG.

And our company sits in the toll booth—collecting fees on every drop exported.

But that’s not all…

As Trump’s proposed tariffs push American manufacturers to bring their operations back home, this company will be first in line to rebuild, retrofit, and reengineer those facilities.

AI. Energy. Tariffs. Onshoring. This One Company Ties It All Together.

While the world is distracted by flashy AI tickers, a few smart investors are quietly scooping up shares of the one company powering it all from behind the scenes.

AI needs energy. Energy needs infrastructure.

And infrastructure needs a builder with experience, scale, and execution.

This company has its finger in every pie—and Wall Street is just starting to notice.

Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

While most energy and utility firms are buried under mountains of debt and coughing up hefty interest payments just to appease bondholders…

This company is completely debt-free.

In fact, it’s sitting on a war chest of cash—equal to nearly one-third of its entire market cap.

It also owns a huge equity stake in another red-hot AI play, giving investors indirect exposure to multiple AI growth engines without paying a premium.

And here’s what the smart money has started whispering…

The Hedge Fund Secret That’s Starting to Leak Out

This stock is so off-the-radar, so absurdly undervalued, that some of the most secretive hedge fund managers in the world have begun pitching it at closed-door investment summits.

They’re sharing it quietly, away from the cameras, to rooms full of ultra-wealthy clients.

Why? Because excluding cash and investments, this company is trading at less than 7 times earnings.

And that’s for a business tied to:

  • The AI infrastructure supercycle
  • The onshoring boom driven by Trump-era tariffs
  • A surge in U.S. LNG exports
  • And a unique footprint in nuclear energy—the future of clean, reliable power

You simply won’t find another AI and energy stock this cheap… with this much upside.

This isn’t a hype stock. It’s not riding on hope.

It’s delivering real cash flows, owns critical infrastructure, and holds stakes in other major growth stories.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 100+% Return within 12 to 24 months.

We’re now offering month-to-month subscriptions with no commitments.

For a ridiculously low price of just $9.99 per month, you can unlock our in-depth investment research and exclusive insights – that’s less than a single fast food meal!

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $9.99.

2. Enjoy a month of ad-free browsing, exclusive access to our in-depth report on the Trump tariff and nuclear energy company as well as the revolutionary AI-robotics company, and the upcoming issues of our Premium Readership Newsletter.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!


No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a month later!