15 Most Widely Held Stocks by Individuals
In this article, we discuss the 15 most widely held stocks by individuals. If you want to read about some more widely held stocks by individuals, go directly to 5 Most Widely Held Stocks by Individuals.
Investors at the stock market have not had the best of times in 2022. There is a strong possibility of a recession in the United States economy in early 2023 and the IMF predicts global growth will slow to 2.7% this year, the weakest pace since 2001 as GDP growth is projected to be only 1%. A tight labor market and rising wages will likely remain a key concern for businesses in the coming months.
It is projected that the Fed will likely continue to raise interest rates in 2023. According to recent Federal Open Market Committee (FOMC) research, it has been projected that core PCE inflation in 2023 will be 3.5%. The central bank will likely raise interest rates by at least another 0.5 percentage points by March 2023 to reach its goal. Various high-ranking Fed officials have recently signaled that they would like to maintain a restrictive monetary policy stance throughout 2023.
However, the investor exodus from the stock market has also created buying opportunities. As one of the oldest and best-performing investment vehicles in the United States - the benchmark indexes have rarely delivered back-to-back negative returns in consecutive years - investors are excited about the possibility of earnings season offsetting some of the blowback from rising rates. The possibility of peak inflation and a continued downward trend in prices has also boosted investor interest in the market.
Some of the top stocks that could benefit from this recovery momentum include The Walt Disney Company (NYSE:DIS), Bank of America Corporation (NYSE:BAC), and The Procter & Gamble Company (NYSE:PG). Retail investors, who have become an important market force in recent years, are also likely to make a strong comeback at the market in light of easing concerns around inflation. Investments in high-growth stocks are thus projected to rise up exponentially in the coming months.
Photo by Chris Liverani on Unsplash
Our Methodology
For this article we picked the most popular stocks among retail investors. The companies listed below, from number 15 to number 11, were taken from the Modern Invest Summit Report. The report is based on a survey of 2,500 retail investors. The firms from number 10 to number 1 were taken from the Robinhood Investor Index. Robinhood is one of the most popular stock trading applications worldwide with a userbase of more than 23 million, as of the end of June 2022.
With each stock we have mentioned the number of hedge funds having stakes in it as of the end of the third quarter. As you will see, it turns out that the top 5 stocks in this list are also extremely popular among hedge funds. This shows that hedge funds and retail investors agree about the long-term worth of these stocks.
Most Widely Held Stocks by Individuals
15. SolarEdge Technologies, Inc. (NASDAQ:SEDG)
Number of Hedge Fund Holders: 44
SolarEdge Technologies, Inc. (NASDAQ:SEDG) designs, develops and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. On November 8, SolarEdge Technologies posted the revenues generated from its products in the third quarter of 2022. The company shipped 2.7GW of inverters worldwide. The Europe segment recorded 1.4GW of all shipments and the US recorded 859 MW during the third quarter. The company posted a record revenue of $836.7 million, of which $788.6 million came from the solar segment.
On December 23, Daiwa analyst Jonathan Kees initiated coverage of SolarEdge Technologies, Inc. (NASDAQ:SEDG) stock with a Neutral rating and $325 price target, noting that a snap-back to pre-COVID levels is perhaps more difficult than for rivals because the company has recently been posting negative profit margins.
At the end of the third quarter of 2022, 44 hedge funds in the database of Insider Monkey held stakes worth $673.8 million in SolarEdge Technologies, Inc. (NASDAQ:SEDG), compared to 40 in the previous quarter worth $749.4 million.
Just like The Walt Disney Company (NYSE:DIS), Bank of America Corporation (NYSE:BAC), and The Procter & Gamble Company (NYSE:PG), SolarEdge Technologies, Inc. (NASDAQ:SEDG) is one of the most popular stocks on the market.
In its Q2 2022 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and SolarEdge Technologies, Inc. (NASDAQ:SEDG) was one of them. Here is what the fund said:
“We are well-positioned to participate in the accelerating energy transition. High and rising utility costs combined with policy support are driving increased penetration of home solar plus storage systems in Europe. Israel-based SolarEdge Technologies (NASDAQ:SEDG) expects to see significant growth in solar installations in this market led by Germany and Italy, among others, where consumers are not only demanding solar on the roof but a complete system solution including batteries. This phenomenon is accelerating revenue growth for these companies.”
14. First Solar, Inc. (NASDAQ:FSLR)
Number of Hedge Fund Holders: 45
First Solar, Inc. (NASDAQ:FSLR) provides global photovoltaic (PV) solar energy solutions. On October 27, First Solar announced the third quarter results of 2022. The company reported net sales of $629 million and recorded 16.6 GW DC of net bookings since the previous earnings call. Year-to-date net bookings were 43.7 GW DC.
On November 10, Argus analyst Bill Selesky maintained a Buy rating on First Solar, Inc. (NASDAQ:FSLR) stock and raised the price target to $176 from $123, highlighting that the company's operating deficit was principally caused by the quarter's noticeably higher logistical costs.
Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in First Solar, Inc. (NASDAQ:FSLR) with 3.2 million shares worth more than $426 million.
13. Verizon Communications Inc. (NYSE:VZ)
Number of Hedge Fund Holders: 62
Verizon Communications Inc. (NYSE:VZ) offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. On October 21, Verizon reported the third quarter results of 2022. Total wireless service revenue was $18.8 billion. The company reported postpaid phone net additions of 8,000. Total broadband net additions were 377,000, including 342,000 fixed wireless net additions.
On December 16, Tigress Financial analyst Ivan Feinseth maintained a Buy rating on Verizon Communications Inc. (NYSE:VZ) stock and lowered the price target to $64 from $68, highlighting that upcoming improvements investments in the 5G network will be beneficial in driving the operational and financial performance.
Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Verizon Communications Inc. (NYSE:VZ) with 8 million shares worth more than $304.6 million.
In its Q3 2022 investor letter, Mawer Investment Management, an asset management firm, highlighted a few stocks and Verizon Communications Inc. (NYSE:VZ) was one of them. Here is what the fund said:
“There are a few other segments of our portfolios that displayed weakness in the quarter. Cable and telecommunication companies have been an area that has lagged behind the broader market as their worlds are increasingly colliding. Companies such as Verizon (NYSE:VZ) have been impacted as the wireless operator is spending heavily to attract internet subscribers with fixed wired access and the cable companies are trying to build wireless businesses.”
12. Chevron Corporation (NYSE:CVX)
Number of Hedge Fund Holders: 66
Chevron Corporation (NYSE:CVX) engages in integrated energy and chemical operations worldwide. Chevron’s Texaco Exploration & Production reported that total oil and gas production in January 2022 was 5,09.62 boe/d. The oil production in 2022 stood at 3,682.74 bd.
On December 19, Piper Sandler analyst Ryan Todd maintained an Overweight rating on Chevron Corporation (NYSE:CVX) stock and lowered the price target to $199 from $206, highlighting markets with structural supply constraints and continuous capital discipline continue to provide duration visibility to the current cycle.
At the end of the third quarter of 2022, 66 hedge funds in the database of Insider Monkey held stakes worth $27 billion in Chevron Corporation (NYSE:CVX), compared to 59 in the preceding quarter worth $26 billion.
In its Q1 2022 investor letter, Diamond Hill, an asset management firm, highlighted a few stocks and Chevron Corporation (NYSE:CVX) was one of them. Here is what the fund said:
“Other top contributors in Q1 included multinational energy company Chevron Corp. (NYSE:CVX). The company benefited from increased energy demand as COVID-related economic restrictions eased in tandem with concerns regarding supply interruptions related to Russia’s invasion of Ukraine.”
11. Micron Technology, Inc. (NASDAQ:MU)
Number of Hedge Fund Holders: 74
Micron Technology, Inc. (NASDAQ:MU) designs, manufactures and sells memory and storage products worldwide. On December 22, Mizuho analyst Vijay Rakesh maintained a Neutral rating on Micron Technology, Inc. (NASDAQ:MU) stock and lowered the price target to $48 from $50, highlighting that the company released soft fiscal Q1 earnings and gave second-quarter guidance that was far lower and below consensus.
At the end of the third quarter of 2022, 74 hedge funds in the database of Insider Monkey held stakes worth $2.5 billion in Micron Technology, Inc. (NASDAQ:MU), compared to 69 in the preceding quarter worth $2.2 billion.
In its Q2 2022 investor letter, Meridian Funds, an asset management firm, highlighted a few stocks and Micron Technology, Inc. (NASDAQ:MU) was one of them. Here is what the fund said:
“Micron Technology, Inc. (NASDAQ:MU) is a leader in the production of DRAM and NAND memory. We invested in the stock in the third quarter of 2019 during a cyclical downturn in the memory industry. Our rationale was that, while the memory industry is cyclical, we believed there are strong secular drivers in place that will lead to higher peaks and long-term growth. Our secular thesis is based on our conviction that the quest for ever-increasing compute speeds will increasingly rely on memory to solve bottlenecks and that increased memory content in nearly everything from mobile phones to automobiles will drive demand. Micron’s stock traded lower during the quarter due to macroeconomic concerns that led to lower earnings expectations. We increased our stake in the company, as we believe our secular thesis remains intact. We wanted to take advantage of what we view as temporary cyclical concerns that caused the stock to trade at less than 10x reasonable trough earnings per share (EPS) estimates and less than 7x recent peak EPS.”
10. Lucid Group, Inc. (NASDAQ:LCID)
Number of Hedge Fund Holders: 15
Lucid Group, Inc. (NASDAQ:LCID) a technology and automotive company, develops electric vehicle (EV) technologies. On December 21, Lucid Group announced that it has begun deliveries of Lucid Air in Europe. The first customers of their electric vehicle were from Germany and the Netherlands. The company launched in Europe with the limited production of two versions of Dream Editions. Lucid group traded higher after the news.
On December 15, BofA analyst John Murphy resumed coverage of Lucid Group, Inc. (NASDAQ:LCID) stock with a Buy rating and $21 price target, noting that the company reported third-quarter results recently and raised $1.5 billion of capital through a common stock sale.
At the end of the third quarter of 2022, 15 hedge funds in the database of Insider Monkey held stakes worth $99.5 million in Lucid Group, Inc. (NASDAQ:LCID), compared to 16 in the preceding quarter worth $173.7 million.
9. GameStop Corp. (NYSE:GME)
Number of Hedge Fund Holders: 17
GameStop Corp. (NYSE:GME) is a specialty retailer that provides games and entertainment products through its e-commerce properties and various stores in the United States, Canada, Australia, and Europe. On December 7, GameStop posted earnings for the third quarter of 2022, reporting losses per share of $0.31, missing the market estimates by $0.03. The revenue over the period was $1.19 billion, down 8.5% compared to the revenue over the same period last year and missing the market estimates by $160 million.
Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in GameStop Corp. (NYSE:GME) with 2 million shares worth more than $252 million.
In its Q2 2022 investor letter, Bireme Capital, an asset management firm, highlighted a few stocks and GameStop Corp. (NYSE:GME) was one of them. Here is what the fund said:
“Amazingly, GameStop Corp. (NYSE:GME) is one of our only short positions to not fall in 2022. The stock trades at an $11.5b market cap, exceeding its pre-pandemic peak by billions of dollars. This is even though revenue is down 30% from the peak, gross margins are down 1500 bps, and the company has generated a negative free cash outflow of $700m in the last four quarters (we had to double-check that number because it is so high).
Wall Street has consistently revised downward their estimates of Gamestop’s profitability, making its stock price stability in 2022 even more perplexing. Analysts currently estimate an EBITDA loss of around $400m, markedly worse than their estimates as of 2/3/22 of a loss of $60m. Their recently launched NFT marketplace will do nothing to fix their core business and comes about a year too late to be relevant in the NFT space. Instead, we see this as another example of a meme stock company hoping it can ape its way into a new business model, utilizing the popularity of the stock to drive new lines of business. We are not optimistic and think the $11.5b market cap drastically overestimates the capability of Gamestop to pivot into something more profitable. We find it unlikely that Gamestop books a GAAP profit ever again.”
8. AMC Entertainment Holdings, Inc. (NYSE:AMC)
Number of Hedge Fund Holders: 18
AMC Entertainment Holdings, Inc. (NYSE:AMC) engages in the theatrical exhibition business. On December 22, AMC Entertainment announced a flotation of financial transactions. The financial transaction included $100 million in equity, swapping debt for equity and said it was considering converting preferred shares into common stock.
On October 12, B. Riley analyst Eric Wold maintained a Neutral rating on AMC Entertainment Holdings, Inc. (NYSE:AMC) stock and lowered the price target to $7.50 from $11, highlighting that with continued uncertainties surrounding film slate timing and production delays, the exhibition sector is taking a more cautious approach.
At the end of the third quarter of 2022, 18 hedge funds in the database of Insider Monkey held stakes worth $120.6 million in AMC Entertainment Holdings, Inc. (NYSE:AMC), compared to 16 in the preceding quarter worth $407 million.
7. NIO Inc. (NYSE:NIO)
Number of Hedge Fund Holders: 26
NIO Inc. (NYSE:NIO) designs, develops, manufactures, and sells smart electric vehicles in China. On January 1, NIO announced a record monthly delivery of 15,815 vehicles in December 2022, up 50.8% year over year. Deliveries consisted of 6,842 premium smart electric SUVs and 8,973 premium smart electric sedans. NIO delivered 40,052 vehicles in the fourth quarter, which was up 60% year-over-year.
On December 29, China Renaissance analyst Yiming Wang maintained a Hold rating on NIO Inc. (NYSE:NIO) stock and lowered the price target to $10.40 from $12.30, highlighting that the company's fourth-quarter deliveries are being delayed by ongoing COVID issues, which led to a reduction in delivery guidance.
At the end of the third quarter of 2022, 26 hedge funds in the database of Insider Monkey held stakes worth $518.9 million in NIO Inc. (NYSE:NIO), compared to 25 in the preceding quarter worth $873.9 million.
In its Q1 2022 investor letter, Horos Asset Management, an asset management firm, highlighted a few stocks and NIO Inc. (NYSE:NIO) was one of them. Here is what the fund said:
“At the beginning of April, the CSRC (China Securities Regulatory Commission) announced possible changes in its regulation that would allow this inspection by foreign auditors, provided that the companies previously communicate to this body the state secrets that would be exposed, as well as the sensitive information that they might have to hand over, and the subsequent audit is carried out in a framework of collaboration with the CSRC. In short, a move in the direction desired by the SEC, although still far from the optimal result, that is, unrestricted access to information. While these negotiations between the two regulatory bodies are progressing, Chinese companies have to decide how best to preserve their interests. Other entities, such as the electric vehicle manufacturer Nio, have just started trading on this stock market.”
6. Ford Motor Company (NYSE:F)
Number of Hedge Fund Holders: 47
Ford Motor Company (NYSE:F) designs, manufactures, markets, and services a range of Ford trucks, cars, sport utility vehicles, electrified vehicles, and Lincoln luxury vehicles worldwide. On December 15, Ford Motors and Contemporary Amperex Technology Co. Limited, a Chinese energy storage company, were looking at a plan to build a plant in Michigan or Virginia. The companies are building a plant to provide iron phosphate batteries for electric models.
On November 30, Citi analyst Itay Michaeli maintained a Neutral rating on Ford Motor Company (NYSE:F) stock and raised the price target to $14 from $13, noting that the models were updated based on third-quarter results.
At the end of the third quarter of 2022, 47 hedge funds in the database of Insider Monkey held stakes worth $1.2 billion in Ford Motor Company (NYSE:F), compared to 46 in the preceding quarter worth $608.8 million.
In its Q3 2022 investor letter, Leaven Partners, an asset management firm, highlighted a few stocks and Ford Motor Company (NYSE:F) was one of them. Here is what the fund said:
“In our last quarterly letter, I briefly mentioned that the consensus estimates for corporate profits appeared to be a bit too sanguine. I referenced a Reuters article that reported, as of June 17, Wall Street expected S&P 500 earnings to grow by 9.6% in 2022, which was up from 8.8% in April and from 8.4% in January. That tune began to change at the end of July and accelerated in August and September, as major players, such as Ford (NYSE:F), have recently issued profit warnings and/or have withdrawn guidance. In response, Wall Street has altered its outlook: lowering third-quarter profit growth to 4.6% [2] from 7.2% in early August and slashing full-year profit growth to 4.5%.”
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Disclosure. None. 15 Most Widely Held Stocks by Individuals is originally published on Insider Monkey.
