In this article, we will look at the 5 best investments for beginners in 2024. To go through our recent market trends and activity analysis, you can go directly to see the 12 Best Investments for Beginners in 2024.
5. Eli Lilly and Company (NYSE:LLY)
Number of Hedge Fund Holders: 102
Quarterly Revenue Growth: 25.98%
Founded in 1876, Eli Lilly and Company (NYSE:LLY) stands as a renowned American pharmaceutical firm headquartered in Indianapolis, Indiana. Named in honor of its founder, Colonel Eli Lilly, a pharmaceutical chemist and veteran of the Civil War, the company boasts a global footprint, with operations spanning across 18 other countries. Eli Lilly and Company (NYSE:LLY) presently distributes a quarterly dividend of $1.30 per share and has consistently raised its dividends over the past decade. Notably, the company has an track record of uninterrupted dividend payments spanning 138 years. As of May 4, the stock offers a dividend yield of 0.71%.
By the conclusion of December 2023, 102 out of the 933 hedge funds analyzed by Insider Monkey had acquired and maintained shares of the company. Among these investors, Ken Fisher’s Fisher Asset Management held the largest stake in Eli Lilly and Company (NYSE:LLY), valued at $2.6 billion.
4. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 173
Quarterly Revenue Growth: 265.28%
NVIDIA Corporation (NASDAQ:NVDA), a leading American multinational technology company based in Delaware, is highly esteemed for its prowess in integrated circuit development. Its expertise extends across various devices, ranging from electronic game consoles to personal computers (PCs).
In Insider Monkey’s analysis of hedge fund holdings for the December quarter of 2023, 173 out of the 933 hedge funds included were shareholders of NVIDIA Corporation (NASDAQ:NVDA). Notably, Rajiv Jain’s GQG Partners emerged as the largest hedge fund investor with a stake valued at $6.8 billion.
SaltLight Capital stated the following regarding NVIDIA Corporation (NASDAQ:NVDA) in its fourth quarter 2023 investor letter:
“We were fortunate to have some exposure to some of the ‘Magnificent Seven’ – Amazon, NVIDIA Corporation (NASDAQ:NVDA), Meta Platforms and Google (although in aggregate, we still hold a smaller weighting than the S&P 500).
While we are cautious in AI infrastructure, we do think there are mispriced opportunities in areas of application software where AI can be infused to make a step change improvement. Posted in our office is this chart that ASML provides at each of its investor days. This chart is a little outdated from 2021, but we think illustrates how value (in operating profit) was distributed across semiconductors, hardware, and then software & services. It’s very clear that most of the economic value in the past has accrued to the software services (in gray) built on the backs of highly technical companies run by extremely smart people.
Why is this? We think it is due to a combination of distribution and network effects. Our working hypothesis right now is that this will likely remain a similar outcome in the AI epoch. One outlier right now is Nvidia which is capturing 80% margins..” (Click here to read the full text).
3. Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Holders: 242
Quarterly Revenue Growth: 27.26%
Headquartered in the United States, Meta Platforms, Inc. (NASDAQ:META) is a prominent multinational technology company renowned for its social networking services and advertising solutions, which encompass platforms like Facebook, Instagram, Threads, and WhatsApp.
On April 9, TD Cowen analyst John Blackledge reiterated a Buy rating on Meta Platforms, Inc. (NASDAQ:META) and raised its price target by $90 to $590. Additionally, TD Cowen increased the company’s revenue estimates for the first quarter of 2024 and the years 2024-2029 by 1%-4% annually.
In Insider Monkey’s analysis of 933 hedge fund holdings for the fourth quarter of 2023, 242 had invested in Meta Platforms, Inc. (NASDAQ:META). Notably, Rajiv Jain’s GQG Partners held the largest stake, valued at $3.9 billion.
2. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 293
Quarterly Revenue Growth: 12.53%
Amazon.com, Inc. (NASDAQ:AMZN), a leading American multinational technology company, offers a diverse portfolio spanning e-commerce, cloud computing via Amazon Web Services (AWS), online advertising, digital streaming, and artificial intelligence. Its e-commerce platform boasts a wide array of products, from gourmet food to consumer electronics.
Insider Monkey’s database, monitoring 933 elite hedge funds, indicates a favorable sentiment towards Amazon.com, Inc. (NASDAQ:AMZN) in Q4. The number of hedge funds with investments in the stock increased to 293, up from 286 in the previous quarter.
1. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 302
Quarterly Revenue Growth: 17.03%
Based in Redmond, Washington, Microsoft Corporation (NASDAQ:MSFT) stands as a prominent American multinational corporation specializing in technology. Renowned for its Windows line of operating systems, the Microsoft 365 suite of productivity applications, and the Edge web browser, Microsoft holds a prominent position in the software industry.
As of March 26, analysts at Wedbush maintain an Outperform rating on Microsoft Corporation (NASDAQ:MSFT), setting a price target of $500.
Insider Monkey’s analysis of 933 hedge fund holdings for Q4 2023 revealed that 302 shareholders held stakes in Microsoft Corporation (NASDAQ:MSFT). Notably, Michael Larson’s Bill & Melinda Gates Foundation Trust emerged as the firm’s largest hedge fund shareholder, with holdings valued at $14.3 billion.
Disclosure: None. You can also take a look at the 11 Best Music Stocks to Invest In and 20 Countries That Produce the Most Gold in the World.
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