5 Best Stocks for Long Term Growth

In this piece, we will take a look at five best stocks for long term growth. If you want to find out what’s going on in the stock market these days, head on over to 14 Best Stocks for Long Term Growth.

5. Thermo Fisher Scientific Inc. (NYSE:TMO)

Number of Hedge Fund Investors In Q1 2023: 98

Thermo Fisher Scientific Inc. (NYSE:TMO) is a medical diagnostics and research products provider based in Waltham, Massachusetts. Its products are used for a variety of purposes, such as biotechnological and agricultural research. While Thermo Fisher Scientific Inc. (NYSE:TMO)’s shares currently trade at roughly $524, its average price target is $626 for a massive $100+ upside.

As of this year’s first quarter, 98 out of the 943 hedge funds part of Insider Monkey’s database had held a stake in Thermo Fisher Scientific Inc. (NYSE:TMO). The firm’s largest hedge fund shareholder is Ken Fisher’s Fisher Asset Management with a $1.3 billion stake.

4. Adobe Inc. (NASDAQ:ADBE)

Number of Hedge Fund Investors In Q1 2023: 99

Adobe Inc. (NASDAQ:ADBE) is one of the biggest software companies in the world. It provides engineering, design, and productivity software products. BMO Capital upgraded its shares to Outperform from Market Perform in June 2023 while the firm’s average share price target is $534 for a nearly $50 upside.

Insider Monkey took a look at 943 hedge funds for their first quarter of 2023 shareholdings to find out that 99 had bought the firm’s shares. Adobe Inc. (NASDAQ:ADBE)’s biggest shareholder is Ken Fisher’s Fisher Asset Management with a $1.8 billion investment.

3. Berkshire Hathaway Inc. (NYSE:BRK-B)

Number of Hedge Fund Investors In Q1 2023: 108

Berkshire Hathaway Inc. (NYSE:BRK-B) is an investment holding company led by the billionaire Warren Buffett. Its shares are up by more than eight percent year to date, and the average share price target is $377, greater than the current price of $335.

After digging through 943 hedge fund portfolios for their March quarter of 2023 investments, Insider Monkey discovered that 108 had invested in Berkshire Hathaway Inc. (NYSE:BRK-B). Michael Larson’s Bill & Melinda Gates Foundation Trust is the largest hedge fund investor in our database with a $6 billion stake.

2. UnitedHealth Group Incorporated (NYSE:UNH)

Number of Hedge Fund Investors In Q1 2023: 116

UnitedHealth Group Incorporated (NYSE:UNH) is a healthcare plan provider. It provides healthcare plans, care services, software products, and other services. SVB, Oppenheimer, RBC Capital, and JP Morgan all reiterated Outperform ratings on the shares in June 2023. The firm has an average share price target of $584.

116 of the 943 hedge funds part of Insider Monkey’s database had bought a stake in the firm during Q1 2023. UnitedHealth Group Incorporated (NYSE:UNH)’s biggest shareholder is Rajiv Jain’s GQG Partners with a $2.2 billion stake.

1. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Investors In Q1 2023: 132

NVIDIA Corporation (NASDAQ:NVDA) is one of the most pivotal semiconductor designers these days, due to the crucial role its products play in powering up artificial intelligence solutions like ChatGPT. Naturally, it tops our list and has an average share price target of $467.95. Bank of America, Goldman Sachs, and Deutsche Bank all have a Buy rating for the shares.

By the end of March 2023, 132 out of the 943 hedge funds profiled by Insider Monkey had invested in NVIDIA Corporation (NASDAQ:NVDA). Ken Fisher’s Fisher Asset Management is the largest shareholder with a $2.7 billion investment.

Disclosure: None. You can also take a look at 10 Best Big Name Stocks to Buy Now and 11 Best FMCG Stocks To Buy Now.

Follow Insider Monkey on Twitter