20 Stocks with the Biggest Share Buybacks

In this article, we will discuss 20 Stocks with the Biggest Share Buybacks.

Stocks with the biggest share buybacks over a 12-month period deserve close attention because they often reveal something serious investors care deeply about: how management allocates capital, how confident executives are in future cash flows, and whether shareholder returns are being prioritized. Buybacks are not just accounting events; they can be powerful signals.

For long-term investors, a large repurchase program usually means a company is generating excess free cash flow beyond what it needs for operations, debt service, and internal investment. Businesses that can consistently buy back billions of dollars in stock often have durable franchises, strong margins, and mature cash-generating models. That alone can narrow the field to higher-quality companies.

Buybacks also directly affect per-share value. When a company reduces its share count, each remaining shareholder owns a larger percentage of the business. If earnings stay flat or rise, earnings per share can grow faster simply because there are fewer shares outstanding. That can support stock prices over time and often enhances total returns when combined with dividends.

Serious investors also track buybacks because they provide insight into management discipline. Executives who repurchase stock aggressively when shares are undervalued may be creating substantial long-term value. Investors like Warren Buffett have long emphasized intelligent buybacks as one of the best uses of capital when a company’s stock trades below intrinsic value. By contrast, companies that buy back heavily at inflated valuations may be destroying value, which is equally important to identify.

There is also a market signaling effect. Large buyback announcements can indicate management believes the stock is attractive relative to other uses of capital, such as acquisitions or expansion. That confidence often matters to institutional investors.

Most importantly, stocks with the highest buybacks frequently overlap with sectors known for shareholder-friendly behavior—financials, energy, mature technology, and consumer leaders. Tracking them can uncover companies quietly compounding value while the market focuses elsewhere.

The bottom line: following 12-month buyback leaders helps serious investors spot cash-rich businesses, disciplined management teams, and companies actively increasing shareholder ownership—all traits that can matter greatly over time.

With this context in mind, here are the 20 stocks with the biggest share buybacks in the 12-month period ending in September 2025.

Our Methodology

For this article, we used a report from S&P Dow Jones Indices, which compiled data on share buyback activity in 2025. From this detailed report, we picked 20 companies with the highest amount of share buybacks in terms of dollar value in the 12-month period ending September 2025.

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20 Stocks with the Biggest Share Buybacks

20. The Charles Schwab Corporation (NYSE:SCHW)

Stock Buybacks in 12 Months Through September 2025: $4.58 billion

The Charles Schwab Corporation (NYSE:SCHW) received a revised analyst outlook on April 20 when Argus lowered its price target to $108 from $117 while maintaining a Buy rating following first-quarter results. The firm highlighted that revenue increased a strong 16%, supported by gains across major operating categories, while net interest margin expanded and total client assets reached $11.8 trillion. Argus added that it expects Schwab to deliver above-peer-average medium-term growth driven by innovative product offerings and continued market share gains.

On April 17, Morgan Stanley analyst Michael Cyprys lowered the price target on The Charles Schwab Corporation (NYSE:SCHW) to $125 from $135 while reiterating an Overweight rating. The analyst stated that the first-quarter report reinforced what the firm views as an increasingly differentiated earnings and growth profile within the brokerage sector, and following the release, Morgan Stanley raised its fiscal 2026 and 2027 EPS estimates by 3.6% and 4.7%, respectively.

The Charles Schwab Corporation (NYSE:SCHW) is a leading financial services company providing securities brokerage, banking, wealth management, and advisory solutions to retail investors and institutional clients. Founded in 1971 in San Francisco, the company is now headquartered in Westlake, Texas.

Despite modest price target reductions, both firms maintained constructive ratings while citing stronger earnings momentum, asset growth, and rising profitability metrics. Combined with $4.58 billion of stock repurchases over the prior twelve months, SCHW appears well-positioned to compound shareholder value through earnings growth and capital returns.

19. American Express Company (NYSE:AXP)

Stock Buybacks in 12 Months Through September 2025: $5.95 billion

American Express Company (NYSE:AXP) received a bullish analyst revision on April 28 when Goldman Sachs raised its price target to $400 from $360 while maintaining a Buy rating on the shares. The increase signals growing confidence in the company’s earnings resilience, premium customer base, and ability to sustain strong spending trends despite a more mixed macroeconomic backdrop.

On April 24, Bank of America raised its price target on American Express Company (NYSE:AXP) to $387 from $381 and reiterated a Buy rating following strong first-quarter results that exceeded expectations on both revenue and earnings. The firm stated that the performance supports its view that higher-income consumers remain financially healthy and continue to spend at robust levels.

American Express Company (NYSE:AXP) is a global financial services company founded in 1850 and headquartered in New York City. The company specializes in charge cards, credit cards, travel services, banking products, and business expense management solutions, with a strong brand presence in premium rewards and affluent consumer markets.

Rising analyst targets and strong quarterly execution suggest AXP continues to benefit from durable demand among higher-income customers and strong brand loyalty. Supported by $5.95 billion of share repurchases over the last twelve months, the company offers an attractive combination of earnings growth and shareholder returns.

18. Johnson Controls International plc (NYSE:JCI)

Stock Buybacks in 12 Months Through September 2025: $6.10 billion

The coverage of Johnson Controls International plc (NYSE:JCI) was initiated on April 14 by BNP Paribas with an Underperform rating and a $120 price target. This stance implies that the firm expects the shares to lag the broader market or industry peers, likely reflecting concerns that valuation or near-term operating performance may already discount much of the company’s upside potential.

The day before, Citi raised its price target on Johnson Controls International plc (NYSE:JCI) to $150 from $139 while maintaining a Neutral rating. The firm updated targets across the industrial sector ahead of first-quarter earnings and stated that gradually improving industrial trends remain intact, which should support solid quarterly results for many companies in the group.

Johnson Controls International plc (NYSE:JCI) is a global leader in smart, healthy, and sustainable building technologies, specializing in HVAC systems, fire suppression, security solutions, and intelligent energy management platforms, including its OpenBlue AI ecosystem. Founded in 1885, the company is officially headquartered in Cork, Ireland.

Although analyst views are mixed, the company remains strategically positioned in long-duration themes such as energy efficiency, building automation, and smart infrastructure modernization. Combined with $6.10 billion of stock buybacks over the prior twelve months, JCI retains meaningful shareholder value creation potential if industrial demand continues to improve.

17. Salesforce, Inc. (NYSE:CRM)

Stock Buybacks in 12 Months Through September 2025: $8.87 billion

Salesforce, Inc. (NYSE:CRM) and its subsidiary Slack filed legal action against Microsoft Corporation in London’s High Court on April 28 over alleged anticompetitive practices tied to Microsoft Teams, according to Reuters. A Slack spokesperson stated that the lawsuit was filed because Microsoft’s use of tying and bundling practices harmed competition and reduced customer choice in enterprise collaboration software markets.

On April 22, Unisys Corporation announced an expansion of its partnership with Salesforce, Inc. (NYSE:CRM) to enhance on-site technology support services. Unisys will integrate Agentforce 360 into its Digital Workplace Solutions Field Services platform across more than 120 countries, supporting approximately 7.4 million devices worldwide and representing one of the largest deployments within the Agentforce ecosystem.

Salesforce, Inc. (NYSE:CRM) is a leading cloud-based customer relationship management software provider that helps enterprises manage sales, marketing, service, commerce, and workflow operations through a broad suite of applications. Founded in 1999, the company is headquartered in San Francisco, California.

The expanded Unisys partnership highlights growing enterprise adoption of Salesforce’s AI-enabled platform ecosystem, while the legal challenge against Microsoft underscores management’s willingness to defend competitive positioning. Backed by $8.87 billion in share repurchases over the last twelve months, CRM combines operational scale, AI monetization opportunities, and aggressive capital returns.

16. HCA Healthcare, Inc. (NYSE:HCA)

Stock Buybacks in 12 Months Through September 2025: $9.21 billion

HCA Healthcare, Inc. (NYSE:HCA) received a revised analyst outlook on April 28 when Bernstein lowered its price target to $503 from $541 while maintaining a Market Perform rating. The firm modestly reduced 2027 and longer-term EBITDA forecasts and cited risks including slowing state supplemental payments, insurance coverage reductions, and potential bad debt growth, though it also acknowledged strong operating execution and well-controlled margins that could offset part of these pressures.

On April 27, Wells Fargo lowered its price target on HCA Healthcare, Inc. (NYSE:HCA) to $436 from $481 while keeping an Equal Weight rating. The firm also reduced estimates following a weaker start to 2026 and noted that stronger core growth may be required to achieve the midpoint of management’s EBITDA guidance, with investor focus likely to remain on utilization trends and payer mix clarity.

HCA Healthcare, Inc. (NYSE:HCA) is one of the largest for-profit healthcare providers, operating approximately 188 hospitals and more than 2,400 sites of care, including surgery centers and clinics, across 20 U.S. states and the United Kingdom. Founded in 1968, the company is headquartered in Nashville, Tennessee, and provides acute care, outpatient, and specialized clinical services.

While analysts trimmed targets, both reports acknowledged HCA’s strong execution discipline and margin resilience in a challenging operating environment. Supported by $9.21 billion of stock buybacks over the prior twelve months, the company remains attractive for investors seeking scale, cash generation, and long-term healthcare demand exposure.

15. QUALCOMM Incorporated (NASDAQ:QCOM)

Stock Buybacks in 12 Months Through September 2025: $9.91 billion

QUALCOMM Incorporated (NASDAQ:QCOM) shares surged on April 27 after analyst Ming-Chi Kuo stated on social media that industry checks indicate OpenAI is working with MediaTek Inc. and Qualcomm to develop smartphone processors. Following the report, Qualcomm shares rose 11%, or $16.65, to $165.50 in premarket trading, reflecting investor enthusiasm over a potential high-profile AI-driven mobile chip opportunity.

Earlier that same day, analyst Ming-Chi Kuo said via X that, according to his latest supply-chain checks, OpenAI is collaborating with MediaTek and QUALCOMM Incorporated (NASDAQ:QCOM) on smartphone processors, with Luxshare Precision Industry Co., Ltd. serving as the exclusive system co-design and manufacturing partner. Kuo added that mass production is expected in 2028 and that Qualcomm and MediaTek could benefit from long-term device replacement demand.

QUALCOMM Incorporated (NASDAQ:QCOM) is a leading American technology company focused on wireless innovation, semiconductors, and mobile connectivity solutions. Headquartered in San Diego, California, the company was founded in 1985 and remains a core supplier of modem, processor, and communications technologies used across the global smartphone ecosystem.

Potential involvement in next-generation AI smartphones could open a new growth avenue for Qualcomm while reinforcing its leadership in premium mobile chipsets. Combined with $9.91 billion of stock buybacks over the prior twelve months, the company offers investors a compelling mix of innovation exposure and capital returns.

14. Citigroup Inc. (NYSE:C)

Stock Buybacks in 12 Months Through September 2025: $10.50 billion

Citigroup Inc. (NYSE:C) was reported on April 28 to be involved in restructuring discussions surrounding Spirit Airlines, Inc., as holders of a $275 million senior revolving credit facility administered by Citi were said to support a proposed $500 million bailout package, according to the Financial Times. The development highlights Citigroup’s central role in large-scale corporate financing and complex creditor negotiations.

On April 21, Citigroup Inc. (NYSE:C) Wealth announced a strategic partnership with Advyzon Enterprise Solutions and Advyzon Investment Management to launch a Global Unified Managed Account Program for wealth clients. The offering will serve Citi Private Bank, Wealth at Work, Citigold, and Citigold Private Client groups across North America, Latin America, EMEA, and APAC, aiming to modernize personalized advice and simplify the investment experience.

Citigroup Inc. (NYSE:C) is a major global financial services holding company offering banking, credit, markets, wealth management, and advisory services to consumers, corporations, governments, and institutions. Headquartered in New York City, the company traces its roots back to 1812.

Citigroup’s involvement in major financing transactions and ongoing modernization of its wealth platform demonstrate the breadth of its franchise and multiple earnings drivers. Supported by $10.50 billion in share repurchases over the last twelve months, Citi appears positioned to enhance shareholder value through both operational execution and capital returns.

13. Mastercard Incorporated (NYSE:MA)

Stock Buybacks in 12 Months Through September 2025: $11.92 billion

Mastercard Incorporated (NYSE:MA) was initiated on April 22 by BMO Capital with an Outperform rating and a $605 price target. The firm stated that despite concerns around digital currencies and alternative payment rails, Mastercard’s multi-rail strategy is expanding its competitive moat and positioning the company as an orchestration layer across a broad range of payment networks.

On April 14, Citi lowered its price target on Mastercard Incorporated (NYSE:MA) to $675 from $735 while maintaining a Buy rating. The firm said that despite macroeconomic volatility, the company’s fundamentals remain intact amid stable consumer spending trends, and that the valuation reset creates a buying opportunity at current levels.

Mastercard Incorporated (NYSE:MA) operates one of the world’s largest electronic payment networks, connecting consumers, merchants, financial institutions, governments, and businesses to facilitate digital transactions globally. Headquartered in Purchase, New York, the company’s origins date to the late 1960s, while Mastercard Incorporated was formally established in 1978.

Analyst commentary suggests MA continues to benefit from durable spending trends and a widening strategic role across evolving payment ecosystems. Backed by $11.92 billion of stock buybacks over the prior twelve months, the company offers a strong blend of secular growth and disciplined capital allocation.

12. T-Mobile US, Inc. (NASDAQ:TMUS)

Stock Buybacks in 12 Months Through September 2025: $12.63 billion

T-Mobile US, Inc. (NASDAQ:TMUS) announced on April 28 definitive agreements to form two strategic fiber joint ventures: a 50/50 partnership with Oak Hill Capital to acquire and combine GoNetspeed and Greenlight Networks, and a separate 50/50 venture with Wren House to acquire i3 Broadband. These transactions expand T-Mobile’s fiber footprint to more than one million additional homes and further strengthen its long-term broadband growth strategy.

The same day, T-Mobile US, Inc. (NASDAQ:TMUS) introduced SuperBroadband, a business internet solution combining its nationwide 5G Advanced network with Starlink Broadband. The offering provides redundancy, nationwide reach, and a simplified managed-service model with a 99.99% uptime guarantee, targeting enterprise customers across multiple industries.

T-Mobile US, Inc. (NASDAQ:TMUS) is a major American wireless communications provider known for its Un-carrier strategy, nationwide 5G network, prepaid brands, and home internet services. Headquartered in Bellevue, Washington, the company was founded in 1994 as VoiceStream Wireless and later became part of Deutsche Telekom.

These announcements demonstrate T-Mobile’s expansion beyond wireless into diversified broadband infrastructure and enterprise connectivity markets. Combined with $12.63 billion in stock buybacks over the last twelve months, the company appears well-positioned to drive growth while returning significant capital to shareholders.

11. Chevron Corporation (NYSE:CVX)

Stock Buybacks in 12 Months Through September 2025: $13.42 billion

Chevron Corporation (NYSE:CVX) CEO Mike Wirth said on April 27 that recent changes to Venezuela’s oil policy represent progress, though additional reforms are still needed to attract meaningful foreign investment, according to Bloomberg. His comments suggest Chevron continues to monitor opportunities that could eventually unlock new international production growth.

On April 22, Scotiabank raised its price target on Chevron Corporation (NYSE:CVX) to $187 from $168 while maintaining a Sector Perform rating. The firm updated views across the U.S. energy sector and noted that investors are likely to focus on whether recent oil market volatility will influence industry activity levels in 2026 and beyond.

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in crude oil and natural gas exploration, production, transportation, refining, fuels marketing, lubricants, petrochemicals, and energy technology development. Headquartered in San Ramon, California, the company’s roots trace back to 1879.

Chevron’s global asset base and exposure to potential new production regions provide strategic optionality, while higher analyst targets reflect confidence in its earnings durability. Supported by $13.42 billion of share repurchases over the prior twelve months, CVX remains attractive for investors seeking income, scale, and shareholder returns.

10. Wells Fargo & Company (NYSE:WFC)

Stock Buybacks in 12 Months Through September 2025: $16.52 billion

Wells Fargo & Company (NYSE:WFC) announced on April 28 the addition of Cathay Pacific to its Rewards Points Transfer program. Eligible Wells Fargo credit cardholders can now link their Cathay memberships and transfer points to Asia Miles at a 1:1 ratio, with no minimum balance requirement and no waiting period for redemption, enhancing the value proposition of the bank’s consumer card ecosystem.

On April 23, Wells Fargo & Company (NYSE:WFC) replaced Barclays PLC as lender on a GBP 143 million property loan tied to Market Financial Solutions, according to Bloomberg. The refinancing underscores Wells Fargo’s continued activity in large-scale commercial lending and structured finance transactions despite a more selective credit environment.

Wells Fargo & Company (NYSE:WFC) is a leading multinational financial services institution founded in 1852 and headquartered in San Francisco, California. The company provides banking, investment, mortgage, treasury, and consumer/commercial finance services, while serving large corporate and institutional clients in more than 35 countries.

The expansion of its rewards ecosystem and continued participation in sizable lending mandates demonstrate Wells Fargo’s diversified earnings base across consumer and commercial banking. Supported by $16.52 billion of stock buybacks over the prior twelve months, the company remains well positioned to deliver shareholder value through capital returns and operating leverage.

9. Visa Inc. (NYSE:V)

Stock Buybacks in 12 Months Through September 2025: $18.60 billion

Visa Inc. (NYSE:V) received a revised analyst outlook on April 24 when Truist lowered its price target to $361 from $372 while maintaining a Buy rating. The firm said the setup for payments companies remains largely positive, citing volume upside from U.S. bank results, accelerating consumer spending through 2026, and lower valuations following recent underperformance.

On April 22, BMO Capital initiated coverage of Visa Inc. (NYSE:V) with an Outperform rating and $365 price target. The firm described Visa as a best-in-class payments company with a strong and diversified business model, noting that its global scale, expanding services revenue, and growing role in digital credentials support an attractive long-term outlook.

Visa Inc. (NYSE:V) is a global payments technology company that facilitates digital transactions among consumers, merchants, financial institutions, and governments worldwide. Headquartered in San Francisco, California, the company was founded in 1958 and operates one of the largest electronic payment networks globally.

Analyst commentary suggests Visa continues to benefit from resilient spending trends and a widening competitive moat as digital payments adoption expands. Backed by $18.60 billion of share repurchases over the last twelve months, Visa offers investors a compelling combination of durable growth and significant capital returns.

8. Bank of America Corporation (NYSE:BAC)

Stock Buybacks in 12 Months Through September 2025: $18.66 billion

Bank of America Corporation (NYSE:BAC) and Alaska Air Group, Inc. announced on April 21 a multi-year extension of their co-branded credit card agreement, the bank’s largest co-brand partnership. The renewed arrangement is expected to deepen investment in the Atmos Rewards platform, enhance lounge benefits, improve customer technology experiences, and potentially make Bank of America the sole issuer for all co-brand cards tied to the program.

On April 16, Piper Sandler analyst R. Scott Siefers raised the price target on Bank of America Corporation (NYSE:BAC) to $59 from $53 while maintaining a Neutral rating. The firm also increased its EPS estimates following first-quarter 2026 earnings results and updated company guidance.

Bank of America Corporation (NYSE:BAC) is a leading global financial institution offering banking, lending, investing, wealth management, and corporate finance services to consumers and businesses. Headquartered in Charlotte, North Carolina, the company was founded in 1904 as the Bank of Italy in San Francisco by A. P. Giannini.

The expanded Alaska partnership highlights the strength of Bank of America’s consumer franchise, while rising earnings estimates suggest improving financial momentum. Supported by $18.66 billion in stock buybacks over the prior twelve months, the company appears attractive for investors seeking scale, profitability, and shareholder returns.

7. Microsoft Corporation (NASDAQ:MSFT)

Stock Buybacks in 12 Months Through September 2025: $19.96 billion

Microsoft Corporation (NASDAQ:MSFT) received positive commentary on April 27 when Barclays said the amended OpenAI agreement is favorable for Microsoft. The firm noted that Microsoft now receives revenue through 2030 and maintains intellectual property rights until 2032, while retaining an Overweight rating and $600 price target.

The same day, Evercore ISI reported that the revised partnership between Microsoft Corporation (NASDAQ:MSFT) and OpenAI should not surprise investors, given Microsoft’s increasing interest in a broader multi-model AI strategy. Evercore added that the agreement provides greater clarity, flexibility, and economic certainty in exchange for reduced exclusivity, while maintaining an Outperform rating and $580 price target.

Microsoft Corporation (NASDAQ:MSFT) is a global technology leader founded in 1975 and headquartered in Redmond, Washington. The company develops software platforms such as Windows and Office, operates Azure cloud services, produces devices including Xbox and Surface, and remains one of the largest investors in artificial intelligence technologies.

Analyst reactions indicate Microsoft has strengthened its long-term AI economics while preserving strategic flexibility across cloud and model ecosystems. Combined with $19.96 billion of stock buybacks over the last twelve months, the company offers investors a powerful mix of innovation, leadership, and capital returns.

6. Exxon Mobil Corporation (NYSE:XOM)

Stock Buybacks in 12 Months Through September 2025: $20.67 billion

Exxon Mobil Corporation (NYSE:XOM) received a bullish analyst revision on April 22 when Scotiabank raised its price target to $163 from $128 while maintaining an Outperform rating. The firm updated views across the U.S. energy sector and suggested investors will increasingly focus on whether recent oil market volatility influences activity levels in 2026 and beyond.

The day before, Wolfe Research downgraded Exxon Mobil Corporation (NYSE:XOM) to Peer Perform from Outperform without assigning a price target. The firm cited valuation following strong recent share performance, noting that absent higher oil price assumptions, the stock now appears more fairly valued and may trade as a proxy for broader sector exposure.

Exxon Mobil Corporation (NYSE:XOM) is one of the world’s largest integrated oil and gas companies, formed in 1999 through the merger of Exxon and Mobil, with corporate roots dating back to 1870. Headquartered in Spring, Texas, the company explores, produces, refines, transports, and markets petroleum products, natural gas, and petrochemicals worldwide.

While valuation opinions differ, Exxon’s scale, integrated operations, and leverage to commodity markets continue to make it a core energy franchise. Supported by $20.67 billion of share repurchases over the prior twelve months, the company remains appealing for investors seeking cash generation and substantial capital returns.

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