5 Most Profitable Blue Chip Stocks to Buy

In this piece, we will take a look at the 5 most profitable blue chip stocks to buy. If you want to find out the latest in the stock market, then take a look at 12 Most Profitable Blue Chip Stocks to Buy.

5. Exxon Mobil Corporation (NYSE:XOM)

Trailing Twelve Month Net Income: $41.1 billion

Exxon Mobil Corporation (NYSE:XOM) is one of the biggest oil companies in the world. January 2024 is shaping up to be an important month for the firm as it is fighting activist shareholders to legally prevent them from bringing a resolution to vote at its upcoming shareholder meeting.

As of Q3 2023 end, 79 out of the 910 hedge funds profiled by Insider Monkey had held a stake in Exxon Mobil Corporation (NYSE:XOM). Jean-Marie Eveillard’s First Eagle Investment Management was the biggest shareholder due to its $1.5 billion stake.

Follow Exxon Mobil Corp (NYSE:XOM)

4. JPMorgan Chase & Co. (NYSE:JPM)

Trailing Twelve Month Net Income: $49.4 billion

JPMorgan Chase & Co. (NYSE:JPM) is a global banking behemoth headquartered in New York City. With January 2024 coming to an end, it has an eye on the future as a recent management shakeup is believed to be motivated by the need to fix a successor for JPMorgan Chase & Co. (NYSE:JPM)’s CEO Jamie Dimon.

During last year’s third quarter, 109 out of. the 910 hedge funds part of Insider Monkey’s database were the firm’s investors. JPMorgan Chase & Co. (NYSE:JPM)’s largest stakeholder among these is Ken Fisher’s Fisher Asset Management courtesy of its $1.6 billion investment.

Follow Jpmorgan Chase & Co (NYSE:JPM)

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

Trailing Twelve Month Net Income: $76.6 billion

Berkshire Hathaway Inc. (NYSE:BRK-A) is the investment holding company headed by the world’s most successful investor, Warren Buffet. Despite a $581,695 share price tag, analysts believe that the shares have a long way to go as they have set an average share price target of $632,500.

For their September quarter of 2023 shareholdings, 116 out of the 910 hedge funds surveyed by Insider Monkey had bought Berkshire Hathaway Inc. (NYSE:BRK-B)’s shares. Michael Larson’s Bill & Melinda Gates Foundation Trust owned the biggest stake among these which was worth $7.8 billion.

Follow Berkshire Hathaway Inc (NYSE:BRK.A)

2. Microsoft Corporation (NASDAQ:MSFT)

Trailing Twelve Month Net Income: $77 billion

Microsoft Corporation (NASDAQ:MSFT) is a technology behemoth best known for its Windows operating system. It teamed up with other firms including Spotify and Epic Games to criticize Apple’s latest App Store rules for EU developers.

By the end of last year’s third quarter, 306 out of the 910 hedge funds covered by Insider Monkey’s database had invested in the firm. Microsoft Corporation (NASDAQ:MSFT)’s largest shareholder is Michael Larson’s Bill & Melinda Gates Foundation Trust as it owns 39.2 million shares that are worth $12.4 billion.

Follow Microsoft Corp (NASDAQ:MSFT)

1. Apple Inc. (NASDAQ:AAPL)

Trailing Twelve Month Net Income: $77 billion

Any talk about the most profitable companies would be incomplete without Apple Inc. (NASDAQ:AAPL), whose revenues match the Saudi state owned oil giant Aramco. January has seen a lot of bad news for the firm’s investors as the stock has been downgraded by Barclays, DA Davidson, and Redburn Atlantic.

134 out of the 910 hedge funds part of Insider Monkey’s Q3 2023 research had bought and owned Apple Inc. (NASDAQ:AAPL)’s shares. Warren Buffett’s Berkshire Hathaway was the biggest shareholder due to its $156 billion stake.

Follow Apple Inc. (NASDAQ:AAPL)

Disclosure: None. You can also take a look at Farallon Capital: A Global and Diversified Hedge Fund and its Top Stock Picks and 25 Best Dividend Growth Stocks to Buy and Hold in 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.