The Most-Traded Stocks by TipRanks Investors in September 2023

Following a decline in August 2023, the broader market indices exhibited continued weakness throughout September. The three major U.S. indices, the S&P 500 (SPX), Nasdaq 100 (NDX), and Dow Jones Industrial Average (DJIA), declined 5.02%, 4.83%, and 3.96%, respectively, in September. 

Meanwhile, the magnificent seven stocks, which marked exceptional growth since the start of the year, gave up some of their gains (except Meta Platforms stock) amid persistently high interest rates and valuation concerns. 

Against this backdrop, we looked into the month’s Buy and Sell transactions of investors holding a TipRanks Smart Portfolio to better understand September’s trading patterns.

September’s Most-Bought Stock

Continuing to hold its top position, Apple (NASDAQ:AAPL) reclaimed the title of the most-purchased stock in September. Investors’ faith in Apple stock remains strong despite the weak iPhone, iPad, and Mac sales in the third quarter (Q3). Investors’ confidence in Apple stock stems from the company’s large user base (exceeding 2 billion active devices) and the strength of its Services division, which augurs well for future growth. 

Furthermore, Apple’s solid cash flows enable it to enhance its shareholders’ returns via regular dividend payments and share repurchases. For example, the company generated a solid operating cash flow of over $26 billion in Q3 and returned over $24 billion to our shareholders. It paid $3.8 billion in dividends and repurchased shares worth more than $18 billion in the third quarter. 

As investors maintain their confidence in AAPL stock, let’s examine the recommendations of Wall Street analysts. 

Is Apple a Buy, Sell, or Hold?

While iPhone sales declined in the third quarter, analysts are encouraged by early demand trends for the iPhone 15 and expect the same to support its financials. Further, Apple’s large and growing installed base of devices and opportunities within the Service division bode well for long-term growth. However, its premium valuation and increasing competition in China keep analysts cautiously optimistic in the near term. 

With 20 Buy and nine Hold recommendations, Apple stock has a Moderate Buy consensus rating on TipRanks. Analysts’ 12-month average price target of $207.69 suggests 20.47% upside potential from current levels. 

Top 10 Most-Bought Stocks

Based on investors’ buying patterns, it’s evident that September continued to favor the technology sector. Eight out of the top 10 most-bought stocks belonged to that sector. Furthermore, investors also bought top ETFs (exchange-traded funds) like the SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust (QQQ) to reduce risk and gain exposure to the top companies. Here is a list of the most-bought stocks and ETFs in September:

1. Apple
2. Tesla (NASDAQ:TSLA)
3. Amazon (NASDAQ:AMZN)
4. Nvidia (NASDAQ:NVDA)
5. Microsoft (NASDAQ:MSFT) 
6. Alphabet Class C (NASDAQ:GOOG)
7. Invesco QQQ Trust
8. SPDR S&P 500 ETF Trust 
9. Alibaba (NYSE:BABA)
10. Alphabet Class A (GOOGL)

September’s Most-Sold Stock

Surprisingly, Apple was also the most-sold stock in September. Investors had the opportunity to realize gains by selling their holdings in Apple stock following its substantial increase in value. 

Besides for Apple stock, let’s look at other most-sold stocks in September. 

Top 10 Most-Sold Stocks

Based on investors’ selling patterns, it’s evident that investors realized gains by selling their holdings in tech sector stocks. Here are September’s top 10 most-sold stocks:

1. Apple
2. Amazon
3. Tesla
4. Nvidia 
5. Microsoft 
6. Advanced Micro Devices (NASDAQ:AMD)
7. Alibaba
8. Meta Platforms (NASDAQ:META)
9. Alphabet Class A
10. Walt Disney (NYSE:DIS)

We will be back soon with the most-traded stocks of October 2023. In the meantime, stay on top of the market by effortlessly tracking your portfolio’s performance with the Smart Portfolio tool on TipRanks.

Disclosure