5 Best Ethical Companies to Invest in 2024

In this piece, we will take a look at the five best ethical companies to invest in 2024. If you want to take a detailed look at ESG investing and how the trends shifted recently, check out 13 Best Ethical Companies to Invest in 2024.

5. NVIDIA Corporation (NASDAQ:NVDA)

Number of Q4 2023 Hedge Fund Shareholders: 173

NVIDIA Corporation (NASDAQ:NVDA) is Wall Street’s artificial intelligence darling. Its shares are up by 198% over the past year, however, April 2024 brought Wall Street’s jittery nature about AI to the forefront after NVIDIA Corporation (NASDAQ:NVDA)s shares crashed by 10% after peer firm Super Micro failed to release preliminary earnings results.

173 out of the 933 hedge funds covered by Insider Monkey’s Q4 2023 database had bought NVIDIA Corporation (NASDAQ:NVDA)’s shares. Rajiv Jain’s GQG Partners owned the biggest stake which was worth $6.8 billion.

4. Alphabet Inc. (NASDAQ:GOOGL)

Number of Q4 2023 Hedge Fund Shareholders: 214

Alphabet Inc. (NASDAQ:GOOGL) is one of the biggest technology companies in the world. The firm was out with an announcement worthy of its size in April 2024 when it announced that it would invest $640 million to set up a new data center in The Netherlands.

During December 2023, 214 hedge funds out of the 933 profiled by Insider Monkey had held a stake in the firm. Alphabet Inc. (NASDAQ:GOOGL)’s largest hedge fund shareholder is Ken Fisher’s Fisher Asset Management due to its  $6.3 billion investment.

3. Meta Platforms, Inc. (NASDAQ:META)

Number of Q4 2023 Hedge Fund Shareholders: 242

Meta Platforms, Inc. (NASDAQ:META) is the biggest social media and communications company in the world. Its CEO Mark Zuckerberg appeared to have thrown a curve ball in the AI market in April 2024 when Meta Platforms, Inc. (NASDAQ:META) announced its Llama 3 model which it claims is one of the most powerful open source AI platforms in the world.

As of 2023’s fourth quarter, 242 hedge funds out of the 933 covered by Insider Monkey’s research had bought Meta Platforms, Inc. (NASDAQ:META)’s shares. Rajiv Jain’s GQG Partners owned the biggest stake which was worth $3.9 billion.

2. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Q4 2023 Hedge Fund Shareholders: 293

Amazon.com, Inc. (NASDAQ:AMZN) is one of the biggest eCommerce retailers in the world. Like other mega cap stocks, it is also focusing heavily on AI, and announced plans in April through which its AWS business division seeks to host other businesses’ AI models.

For their fourth quarter of 2023 shareholdings, 293 out of the 933 hedge funds polled by Insider Monkey were the firm’s investors. Amazon.com, Inc. (NASDAQ:AMZN)’s largest hedge fund shareholder is Ken Fisher’s Fisher Asset Management as it owns $6.3 billion worth of shares.

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Q4 2023 Hedge Fund Shareholders: 302

Microsoft Corporation (NASDAQ:MSFT) is a global consumer software and enterprise computing giant. The firm scored a big win in April 2024 when beverages giant Coca Cola signed a $1.1 billion deal with it to use Microsoft Corporation (NASDAQ:MSFT)’s AI and cloud computing platforms.

302 out of the 933 hedge funds part of Insider Monkey’s Q4 2023 database had invested in Microsoft Corporation (NASDAQ:MSFT). Michael Larson’s Bill & Melinda Gates Foundation Trust owned the biggest stake which was worth $14.3 billion.

Disclosure: None. You can also take a look at the 10 Best Multibagger Stocks to Buy Now and Top 15 Cities Where Gen Z is Moving in the US.

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