In this piece, we will take a look at the 5 best stocks to buy for investment. If you’d like to go through our overview of investing and some recent financial news, then take a look at the 11 Best Stocks to Buy for Investment.
5. McDonald’s Corporation (NYSE:MCD)
Number of Hedge Fund Holders: 70
Beta Value: 0.70
Founded in 1940 by Richard and Maurice McDonald, McDonald’s Corporation (NYSE:MCD) stands as a U.S.-based multinational fast-food chain. The company witnessed a notable 5% surge in systemwide sales in 2022 compared to the previous year, with an impressive 10.9% year-over-year growth in global comparable sales. The company recently increased its quarterly dividend to $1.67 per share, marking a 10% rise in October. With this increment, McDonald’s Corporation (NYSE:MCD) is just three years shy from achieving Dividend King status, maintaining a remarkable streak of dividend growth spanning 47 years. As of November 28, the stock boasts a dividend yield of 2.37%.
In Q3 2023, the number of hedge funds tracked by Insider Monkey with stakes in McDonald’s Corporation (NYSE:MCD) increased to 70, up from 68 in the previous quarter. The collective value of these stakes exceeds $2.5 billion.
4. The Procter & Gamble Company (NYSE:PG)
Number of Hedge Fund Holders: 75
Beta Value: 0.44
Founded in 1837 by William Procter and James Gamble, The Procter & Gamble Company (NYSE:PG) is a global consumer goods corporation headquartered in Cincinnati, Ohio. The company is renowned for its extensive range of branded consumer packaged goods, distributed globally across segments that include Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.
At present, The Procter & Gamble Company (NYSE:PG) offers a quarterly dividend of $0.9407 per share, resulting in a yield of 2.49% as of November 28. With a track record of 67 consecutive years of dividend increases, the company not only stands as a prominent dividend aristocrat stock but also as one of the best stocks for investment.
According to Insider Monkey’s data for the third quarter, 75 hedge funds exhibited a positive stance on The Procter & Gamble Company (NYSE:PG), marking a slight uptick from the 74 funds in the preceding quarter.
3. Walmart Inc. (NYSE:WMT)
Number of Hedge Fund Holders: 80
Beta Value: 0.49
Walmart Inc. (NYSE:WMT) stands as a prominent American multinational retail corporation, overseeing an extensive chain of hypermarkets, discount department stores, and grocery stores across diverse formats and geographies. As of November 28, the company provides a quarterly dividend of $0.57 per share, yielding 1.45%.
In the third quarter of 2023, Walmart Inc. (NYSE:WMT) garnered significant attention from hedge funds, with 81 hedge funds establishing positions in the company, as per Insider Monkey’s database. The combined holdings of these hedge funds were valued at over $5.46 billion. Notably, Ken Fisher’s Fisher Asset Management emerged as the largest shareholder, boasting holdings valued at approximately $1.45 billion.
2. Johnson & Johnson (NYSE:JNJ)
Number of Hedge Fund Holders: 84
Beta Value: 0.57
Founded in 1886, Johnson & Johnson (NYSE:JNJ) stands as a prominent American corporation renowned for its pioneering advancements in medical devices, pharmaceuticals, and consumer packaged goods. The multinational company boasts an impressive 61-year track record of consistent dividend growth, currently offering a quarterly dividend of $1.19 per share. As of November 28, the stock presents a compelling dividend yield of 3.15%.
On October 17, Johnson & Johnson (NYSE:JNJ) announced adjusted earnings and revenue that exceeded the forecasts of Wall Street, subsequently increasing its full-year guidance due to robust sales in both its pharmaceutical and medical devices divisions. The pharmaceutical company also disclosed net income of $4.31 billion, equivalent to $1.69 per share. This figure remained consistent with the net income of $4.31 billion, or $1.62 per share, reported for the corresponding period in the previous year.
In the third quarter of 2023, the number of hedge funds tracked by Insider Monkey with holdings in Johnson & Johnson (NYSE:JNJ) declined to 84, down from 88 in the prior quarter. The collective investments by these hedge funds surpass a total value of $4.15 billion. A leading hedge fund investor in Johnson & Johnson (NYSE:JNJ) is Bridgewater Associates, managed by Ray Dalio, with a substantial stake valued at approximately $424.3 million.
1. UnitedHealth Group Incorporated (NYSE:UNH)
Number of Hedge Fund Holders: 104
Beta Value: 0.62
Based in Minnetonka, Minnesota, UnitedHealth Group Incorporated (NYSE:UNH) is a prominent American multinational corporation specializing in managed healthcare and insurance services, operating as a for-profit entity. The corporation is structured into four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. Recognized as one of the safest stocks, UnitedHealth Group Incorporated (NYSE:UNH) affirmed a quarterly dividend of $1.88 per share on November 8, maintaining consistency with the previous payout. Shareholders of record as of December 4 will receive the dividend on December 12.
Insider Monkey’s database of 910 hedge funds reveals that 104 hedge funds reported owning stakes in UnitedHealth Group Incorporated (NYSE:UNH). The most significant stakeholder in the firm during this period was Rajiv Jain’s GQG Partners, which holds a $1.63 billion stake in the company.
Mairs & Power Growth Fund made the following comment about UnitedHealth Group Incorporated (NYSE:UNH) in its second quarter 2023 investor letter:
“Notable detractors to performance in the first half were US Bank (USB), Charles Schwab (SCHW), and UnitedHealth Group Incorporated (NYSE:UNH), which were down 22.09%, 31.65%, and 8.65%, respectively. Another detractor from relative performance was UnitedHealth Group, which was down 8.65%. However, we have a positive long-term view of the company, headquartered in Minnesota, and especially its potential when it comes to harnessing its vast amounts of patient data via AI. Additionally, its Optum unit, which provides technology and data-driven care delivery, has AI-enabled tools that can help healthcare providers drive more efficient and accurate care to patients.
You may also like to read Jim Cramer’s Top 10 Stock Picks for 2023 and 15 Stocks Billionaire David Einhorn Just Bought and Sold
