5 Best Magic Formula Stocks to Buy Now

In this piece, we will take a look at the five best magic formula stocks to buy now. To find out what’s magical about magic formula investing, check out 11 Best Magic Formula Stocks to Buy Now.

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

Number of Hedge Fund Investors As Of Q4 2023 end: 293

Gotham Asset Management’s Q4 2023 Stake: $44.5 million

Amazon.com, Inc. (NASDAQ:AMZN) is the world’s biggest electronic commerce company. Its founder and former CEO, Jeff Bezos, is making headlines as usual these days after SEC filings revealed that Mr. Bezos had sold a whopping $2 billion worth of shares this month.

For their December quarter of 2023 shareholdings, 293 out of the 933 hedge funds tracked by Insider Monkey were the firm’s shareholders. Amazon.com, Inc. (NASDAQ:AMZN)’s largest investor is Ken Fisher’s Fisher Asset Management as it owns a $6.4 billion stake.

4. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Investors As Of Q4 2023 end: 166

Gotham Asset Management’s Q4 2023 Stake: $51.8 million

Alphabet Inc. (NASDAQ:GOOG) is the mega cap technology giant best known for its search engine Google. However, it’s also one of the leading players in the artificial intelligence race. Yet, Alphabet Inc. (NASDAQ:GOOG)’s shares tanked in January 2024 as investors became uncomfortable with the high costs outlined by the firm to fuel its A.I. portfolio.

After digging through 933 hedge fund Q4 2023 investment portfolios, Insider Monkey discovered 166 Alphabet Inc. (NASDAQ:GOOG) shareholders. Ken Fisher’s Fisher Asset Management was the biggest investor as it held a $6.3 billion stake.

3. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Investors As Of Q4 2023 end: 302

Gotham Asset Management’s Q4 2023 Stake: $71.2 million

Microsoft Corporation (NASDAQ:MSFT) is one of the world’s most valuable technology companies and also a leading player in the artificial intelligence race. Its partnership with OpenAI continues to yield results, with a fresh report in the Financial Times sharing that OpenAI is on track to cross billions of dollars in revenue this year.

Microsoft Corporation (NASDAQ:MSFT) is also the most favorite stock among hedge funds, as Insider Monkey’s research shows that 302 out of the 933 funds covered were the firm’s shareholders. Michael Larson’s Bill & Melinda Gates Foundation Trust was the biggest stakeholder, owning 38.2 million shares that are worth $14.3 billion.

2. Snowflake Inc. (NYSE:SNOW)

Number of Hedge Fund Investors As Of Q4 2023 end: 86

Gotham Asset Management’s Q4 2023 Stake: $77.8 million

Snowflake Inc. (NYSE:SNOW) is a cloud computing company that enables businesses and other customers to generate analytical insights from their data. The firm is doing well on the financial front as of late since it has beaten analyst EPS estimates in all four of its latest quarters.

During 2023’s fourth quarter, 86 out of the 933 hedge funds part of Insider Monkey’s database had bought a stake in the firm. The largest Snowflake Inc. (NYSE:SNOW) shareholder out of these is Brad Gerstner’s Altimeter Capital Management as it owns $2.4 billion worth of shares.

1. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Investors As Of Q4 2023 end: 131

Gotham Asset Management’s Q4 2023 Stake: $83 million

Apple Inc. (NASDAQ:AAPL) is a global household name. Despite the fact that its Vision Pro headset has captured media attention, the shares tanked after the firm’s latest earnings report that hinted that weaker sales of the bread and butter iPhone were on the horizon.

131 out of the 933 hedge funds part of Insider Monkey’s Q4 2023 database were Apple Inc. (NASDAQ:AAPL)’s investors. Warren Buffett’s Berkshire Hathaway was the largest investor through its $174 billion stake.

Disclosure: None. You can also take a look at 12 Best Tech Stocks To Buy According to Billionaire Ken Griffin and 15 Best Long Term Care Insurance Companies Heading into 2024.

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.

[/daily-newsletter

Follow Insider Monkey on Twitter