On Tuesday’s episode of Mad Money, host Jim Cramer weighed in on a recent analysis by Goldman Sachs’ David Kostin, which highlighted a group of companies dubbed “buyback aristocrats.”
“Now, you might have heard about dividend aristocrats… Kostin’s buyback aristocrats have reduced their share counts by 1% or more in at least nine of the past 10 years. Given the throttling back of the buyback ratio, these stocks could rise to a premium versus the rest of the market, and Kostin’s buyback aristocrats typically outperform when the economy slows, hey, like we’re seeing right now.”
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Cramer made it clear that the logic behind Kostin’s list is not complicated. He commented, “It’s just a question of supply and demand.” He explained that when a company repurchases its own stock, it removes shares from circulation, and that reduction in supply can drive prices higher, all else being equal.
He pointed out that although overall buyback activity has decreased recently, those companies that continue to repurchase aggressively are still being rewarded by investors. Cramer called it “an edge.” He mentioned that it is not foolproof, but called it “an arrow in your stock picking quiver.” He added:
“So, let’s go to the next level. There are some caveats that he gives you. The one big beautiful bill will broadly help increase corporate cash flows, positive. But Kostin’s worried about surging CapEx, meaning companies spending on new plant and equipment. Now, I don’t mind that, but you know what? I do want these buybacks to continue.”
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For this article, we compiled a list of 12 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on September 9. We listed the stocks in the order that Cramer mentioned them. We also provided hedge fund sentiment for each stock as of the second quarter of 2025, which was taken from Insider Monkey’s database of over 900 hedge funds.
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Jim Cramer Highlighted 12 Stocks Recently
12. AppLovin Corporation (NASDAQ:APP)
Number of Hedge Fund Holders: 109
AppLovin Corporation (NASDAQ:APP) is one of the stocks Jim Cramer highlighted recently. Cramer believes its earnings could “more than double” this year. He commented:
“This stock spent months rallying relentlessly to the point where it exploded higher yesterday and made another new high today. The last quarter was phenomenal. AppLovin’s earnings should be more than double this year. I don’t even want to tell you what I’m thinking about for next year. Though the stock’s far from cheap at roughly 60 times this year’s earnings estimates, it will turn out to be cheap if we do get the numbers that I’m thinking about for next year. Really interesting pattern here.
I’ve been worried that AppLovin might pull back a bit now that it’s finally added to the S&P 500, something that the shareholder base has been predicting for months, but the darn thing just won’t stop. Lang (chartist Bob Lang) points out that we just got this bullish crossover in the MACD. This is one of the most beautiful crossovers I’ve seen… What can I even say about AppLovin? Stock was up 700% last year. It’s now up about 70% year to date. Lang’s betting it will keep rallying without looking back. I think this is a mini Google.”
AppLovin Corporation (NASDAQ:APP) develops a software-driven platform that supports advertisers and publishers with tools for app marketing, monetization, analytics, and connected TV solutions. In addition, the company provides mobile games through its own and partner studios.
11. Oklo Inc. (NYSE:OKLO)
Number of Hedge Fund Holders: 36
Oklo Inc. (NYSE:OKLO) is one of the stocks Jim Cramer highlighted recently. Cramer highlighted the company’s strong chart setup, as he remarked:
“Then there’s one that you know I like and I talk about all the time. That’s Oklo… Take a look at the daily chart here. This is pretty amazing. We’ve got a series of higher highs and higher lows laying the groundwork for a classic uptrend. Even though Oklo’s pulled back from its highs, Lang (chartist Bob Lang) points out that volume trends remain bullish, and the stock… bounced off its 50-day moving average… It’s still down from its high, which is very unusual for a speculative stock. This could be well-positioned even as you probably think, wait a second, didn’t I miss it?
That’s not the way it works. Like the others, the on-balance volume here is solid, and it’s trending higher. Meanwhile, the MACD line, look at this, we got a crossover right here, a bullish crossover where the black line crosses over the red. That’s good. That counts… That’s one of the most reliable positive indicators out there… Basically, Oklo’s just under 74 bucks, and as long as it can get back above its previous high at 85, well, Lang says you got smooth sailing to the triple digits. Triple digits.”
Oklo Inc. (NYSE:OKLO) builds advanced fission power plants to supply clean and cost-effective energy and also advances nuclear fuel recycling to repurpose waste into usable fuel.
10. Rocket Lab Corporation (NASDAQ:RKLB)
Number of Hedge Fund Holders: 46
Rocket Lab Corporation (NASDAQ:RKLB) is one of the stocks Jim Cramer highlighted recently. Cramer noted that the stock has been “trading sideways” for a couple of months and said:
“The stock ran out of steam in July, and since then, it’s gradually come off its highs, mostly trading sideways for the past two months. This… consolidation… I know that Bob likes very much. Of course, Lang (chartist Bob Lang) points out the Rocket Lab’s still up roughly 220% from its April lows. It’s a rally that’s mainly occurred on heavy volume. This is one of those stocks that’s beloved by younger retail investors, although Lang thinks it’s starting to attract interest from big institutional money managers too.
He sees the stock’s recent pullback to the 50-day moving average… as another chance to buy the dip. And I know many of you probably think dip? But in this… speculative world, that is a dip. When you look at the action over the summer, Rocket Lab pulled back hard, then rebounded dramatically on high volume a few weeks ago before cooling off again.
When you look at the on-balance volume, again… and also the moving average convergence divergence… You get some really good buy interest. It is due. This is a $47 stock that could move above $60 in short order. I like that move. And you know what? If the Fed gets aggressive cutting interest rates, all these speculative names are just going to roar higher. So… let’s think about Rocket Lab. That one looks very right.”
Rocket Lab Corporation (NASDAQ:RKLB) provides launch services, spacecraft systems, and on-orbit solutions for commercial and government customers. The company develops and manufactures rockets such as Electron for small payloads and Neutron for larger missions and future human spaceflight.
9. Ouster, Inc. (NASDAQ:OUST)
Number of Hedge Fund Holders: 23
Ouster, Inc. (NASDAQ:OUST) is one of the stocks Jim Cramer highlighted recently. Cramer said that it “would be a good stock” in his book. He stated:
“Now that Ouster has pulled back to just above its 50-day moving average right there, okay, Lang (chartist Bob Lang) thinks you’re getting a terrific buying opportunity right here, right now. What makes him so bullish? For starters, I want you to take a look at the on-balance volume line. This is down at the bottom… This is a volume-based technical indicator that uses a running total of trading volume to predict price changes, adding volume on updates, subtracting on down days to gauge buying and selling pressure. Really cool indicator, frankly.
And as you can see, Ouster’s on-balance volume has been exploding, perfect, perfect, even as the stock’s come down. At the same time, Lang spotted signs of institutional buying. Plus, it doesn’t hurt that Ouster reported a very strong quarter with a healthy guide up last month. Of course, the stock is definitely not cheap. It has a history of being extremely volatile, but if Ouster can rebound back to its old highs in the mid-thirties, Lang thinks it could eventually run all the way to 45, maybe 50 by early next year.
We’ve had a market that’s been very friendly for speculative stocks, you know that, that’s for most of the past year, and really, the last five years it’s worked and nothing’s really changed. Ouster’s likely to remain a winner. This would be a good stock in my book, How to Make Money in Any Market. I talk about having a speculative stock. This would be the kind of thing that I would say, you know what, it’s kind of off the beaten path, but it’s going to be right.”
Ouster, Inc. (NASDAQ:OUST) develops high-resolution lidar sensors and software solutions for automotive, industrial, robotics, and smart infrastructure applications. The company’s products include scanning and solid-state sensors, surround-view systems, and platforms like Gemini and BlueCity for traffic and safety management.
8. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 156
Apple Inc. (NASDAQ:AAPL) is one of the stocks Jim Cramer highlighted recently. Cramer highlighted the company’s stock buyback and called it a “serial repurchaser,” as he said:
“Now we gotta go down to the companies that have been buying back stock at a 4% clip annually to find the two that I want to pound the table on right here and right now: Wells Fargo and Apple… Then let’s deal with the pachyderm in the room. Let’s deal with Apple. Alright, here’s a company that’s addicted to buying back its own stock. It’s just a serial repurchaser, a sign that I think that management always thinks the stock is cheap, even if they don’t come out and scream that. The timing here for Kostin turns out to be impeccable; better be lucky than good. You know why? Because today happens to be the launch of the new Apple iPhone, the 17, thinner, better, stronger.
The iPhone Air dazzled because of its thinness. There were price increases, not as noteworthy as I thought they’d be. They’ll mostly be absorbed by the consumer, in part, because these phones are heavily subsidized by your wireless carrier. You just kind of don’t feel it. Now, Apple stock was down 1.5% today, not unusual as this has historically been a sell, the news, event. The stock’s been down or just flat after this annual iPhone announcement in four out of the last five years…
People left it. They say, ah, today wasn’t the day. Well, it’s not supposed to be, but get this: If you look at how Apple’s done one year after the last five years’ worth of launches, it’s rallied 13% on average, and it was up in every single one of those years… Let’s make real money, okay? 13% in the year after new iPhone launch, that’s what I call real money. I like Apple, I like those launch statistics, and now I have one more reason to tell you to own it, not trade it: Apple’s buyback aristocrat status.”
Apple Inc. (NASDAQ:AAPL) designs and sells smartphones, computers, tablets, wearables, and accessories, alongside cloud, support, and advertising services.
7. Wells Fargo & Company (NYSE:WFC)
Number of Hedge Fund Holders: 75
Wells Fargo & Company (NYSE:WFC) is one of the stocks Jim Cramer highlighted recently. Cramer talked quite positively about the firm’s CEO, as he remarked:
“Now we gotta go down to the companies that have been buying back stock at a 4% clip annually to find the two that I want to pound the table on right here and right now: Wells Fargo and Apple. Wells spoke today at a conference. I liked everything I heard. Here’s what we told club members: ‘Wells has bought back $5.5 billion of its stock so far this quarter. That’s the most the bank has bought back in a single quarter all year.’
A huge, and by the way, that is a huge sign of confidence from CFO, Michael Santomassimo, who said that he’s seeing green shoots now that the Feds removed the asset cap penalty on Wells. I’d be a buyer if we didn’t already own so much of it for my Charitable Trust. And I know Charlie Scharf is on tomorrow morning. I want to listen to him. He’s the CEO and he’s terrific.”
Wells Fargo & Company (NYSE:WFC) provides financial services, including banking, lending, investment, and wealth management solutions. Its offerings include consumer, commercial, corporate, and institutional clients across multiple financial products and advisory services.
6. Jabil Inc. (NYSE:JBL)
Number of Hedge Fund Holders: 52
Jabil Inc. (NYSE:JBL) is one of the stocks Jim Cramer highlighted recently. Cramer noted the company’s consistent repurchases and industry momentum. He said:
“Hey, then there’s another one. Jabil, a contract manufacturer for tech and healthcare that’s been sensational, buying back stock at 5% annually. That’s one worth looking into. Why? Because Celestica, a competitor, is killing it. I’m filing it away. I put it away for another time.”
Jabil Inc. (NYSE:JBL) delivers manufacturing, design, and product management services, including electronics design, prototyping, and systems assembly. Cramer mentioned the company in a June episode and said:
“Jabil is so terrific that even though it’s up on a spike… I am again going to bless it. Why? Because it only sells at 22 times earnings, and it’s the kind of company you need to deal with right now. They’ll understand all the tariff problems and they’ll help you.”
5. AutoZone, Inc. (NYSE:AZO)
Number of Hedge Fund Holders: 65
AutoZone, Inc. (NYSE:AZO) is one of the stocks Jim Cramer highlighted recently. Cramer called its buyback “legendary” and said:
“But let’s cut to one that I am predisposed to, AutoZone, AZO, the auto parts chain, which does very well in a slowdown because more people want to fix up their old cars, saves them money rather than have to go buy a new one. AutoZone’s got a legendary buyback. I checked out the share count over the last decade, and it’s astounding. 10 years ago, it had roughly 31 million shares. Now, it’s less than 17 million shares. That’s what happens when you’re repurchasing at a clip of 6% every year. I like it.”
AutoZone, Inc. (NYSE:AZO) sells and distributes automotive replacement parts, maintenance products, and accessories for cars, trucks, and SUVs. Additionally, the company provides diagnostic and repair software and parts. When a caller inquired about the stock in a May episode, Cramer replied:
“No, you’re not thinking of buying, you’re going to buy. This has the single best buyback. The quarter was very good. I am actually surprised that the stock isn’t up even more. It sells at only 24 times earnings. It’s consistent. They bought back half the float. You have a winner in AutoZone.”
AutoZone, Inc. (NYSE:AZO) stock is up around 16% since the above comment was aired.
4. HP Inc. (NYSE:HPQ)
Number of Hedge Fund Holders: 51
HP Inc. (NYSE:HPQ) is one of the stocks Jim Cramer highlighted recently. Cramer mentioned that the company keeps missing quarters, as he commented:
“Oh, and then there’s another one, don’t tempt me, it’s HP, the printer and PC company that’s bought back 6% of its shares on average. No thanks. See, it keeps missing the quarter. A buyback can’t cover up these kinds of snafus.”
HP Inc. (NYSE:HPQ) provides personal computing devices, printers, 3D printing, and related technologies, along with services for hybrid work and gaming. In an April episode, when a caller inquired about the company, as they wished to invest in 3D printing, Cramer responded:
“It will not be the needle mover for HPQ, and I do not like the PC business. So I’m going to have to suggest that you do not buy that stock. If you look at how it’s done, it’s not been a good one.”
The company stock has gained over 14% since the comment
3. Synchrony Financial (NYSE:SYF)
Number of Hedge Fund Holders: 45
Synchrony Financial (NYSE:SYF) is one of the stocks Jim Cramer highlighted recently. Cramer mentioned that he prefers another company. He remarked:
“Then up next is Synchrony Financial. That’s a credit card issuer, which has retired 7% of its shares per year. Tempting? No, because, see, I prefer Capital One, which said this very day that it’s stepping up its share repurchasing this quarter.”
Synchrony Financial (NYSE:SYF) provides consumer financial services, including credit cards, installment loans, and deposit products such as Certificates of Deposit, savings, and money market accounts. Moreover, the company offers branded financing solutions across retail, healthcare, and specialty sectors. On September 11, BofA analyst Mihir Bhatia raised the company’s stock price target to $84 from $80, while maintaining a Buy rating. He noted that stronger spending patterns and the start of the Walmart program strengthen the firm’s view that loan growth has bottomed and will accelerate “nicely” next year.
2. eBay Inc. (NASDAQ:EBAY)
Number of Hedge Fund Holders: 58
eBay Inc. (NASDAQ:EBAY) is one of the stocks Jim Cramer highlighted recently. Cramer mentioned the stock during the episode and said:
“Second is eBay. Now it’s intriguing. Just reported a good quarter. That is not enough for me because I fear the old eBay coming back. It has retired stock at 9% clip, though.”
eBay Inc. (NASDAQ:EBAY) operates online marketplace platforms and mobile apps that connect buyers and sellers, enabling users to list, purchase, and pay for a wide range of products. Cramer mentioned the stock in a June episode and commented:
“There’s no real theme to the other stocks on the list… eBay’s a real shocker. It’s come a long way to get back on this list. Now, I’ve watched this stock get carved up for ages, but now it looks like eBay has stopped being a whipping boy, and people are feeling comfortable buying merchandise second-hand. Has a partnership with Facebook’s Marketplace, which has spurred real growth for the company. I like that, by the way, that marketplace section.”
1. DaVita Inc. (NYSE:DVA)
Number of Hedge Fund Holders: 43
DaVita Inc. (NYSE:DVA) is one of the stocks Jim Cramer highlighted recently. Cramer called its share buybacks over the last decade “big,” as he remarked:
“So which of his (Goldman Sachs analyst David Kostin) buyback aristocrats are the best of the best? Now this is what I like to do because I am a stock picker: I like to go through these lists, and there’s a number of names on them. I’m looking for stocks that I’m already a fan of that I think can go higher off their own fundamentals. Now there are a whole bunch of characteristics that Kostin chooses to accentuate, but I’m gravitating to the column that highlights the average annual change in share count during the past 10 years. This is the hard part.
In terms of just closing your eyes and buying stocks that have a large share count shrinkage, DaVita’s number one. Now, this is a kidney dialysis company that has indeed retired 9% of its share count annually for the last 10 years. That’s big. But you see, it’s not something I want to buy with RFK Junior anywhere near the specialty medicine business.”
DaVita Inc. (NYSE:DVA) delivers kidney dialysis treatment through outpatient centers, hospitals, and home-based care, supported by laboratory testing and physician services. The company also provides integrated kidney care, disease management, clinical research, and transplant software solutions.
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