In this piece, we will take a look at the five most profitable large cap stocks to buy. For more profitable large cap stocks, head on over to 13 Most Profitable Large Cap Stocks to Buy.
5. Industrial and Commercial Bank of China Limited (OTCMKTS:IDCBY)
Trailing Twelve Months Net Income: $53.2 billion (1RMB = 0.15USD)
Number of Hedge Fund Holders In Q3 2022: N/A
Industrial and Commercial Bank of China Limited (OTCMKTS:IDCBY) is another large Chinese bank. The firm is owned by the government, and it is headquartered in Beijing. Its products and services cover loans, wealth management, and money market operations. The Industrial and Commercial Bank of China Limited (OTCMKTS:IDCBY) was also the world’s largest bank in terms of assets in 2021, with total assets of $5.5 trillion.
4. Exxon Mobil Corporation (NYSE:XOM)
Trailing Twelve Months Net Income: $55.7 billion
Number of Hedge Fund Holders In Q3 2022: 75
Exxon Mobil Corporation (NYSE:XOM) is an oil supermajor and the largest non government oil company in the world. The firm explores, refines, produces, and transports crude oil and petroleum products.
Exxon Mobil Corporation (NYSE:XOM) made a surprising announcement in February 2023 when it was revealed that the firm is quietly reducing its stake in algae based biofuel investments. 75 of the 920 hedge funds polled by Insider Monkey had owned a stake in the company during Q3 2022.
Exxon Mobil Corporation (NYSE:XOM)’s largest investor is Rajiv Jain’s GQG Partners which owns 33 million shares that are worth $2.9 billion.
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3. Alphabet Inc. (NASDAQ:GOOGL)
Trailing Twelve Months Net Income: $59.9 billion
Number of Hedge Fund Holders In Q3 2022: 196
Alphabet Inc. (NASDAQ:GOOGL) is one of the largest technology companies in the world. Headquartered in Mountain View, California, the firm has a hardware and software product portfolio that spans from operating systems to smartphones.
Alphabet Inc. (NASDAQ:GOOGL) was left red faced in February 2023 when its live demonstration of an artificial intelligence platform led to the software giving incorrect answers. Insider Monkey’s September quarter of 2023 survey of 920 hedge funds revealed that 196 had invested in the company.
Out of these, Chris Hohn’s TCI Fund Management is Alphabet Inc. (NASDAQ:GOOGL)’s largest investor. It owns 52 million shares that are worth $5 billion.
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2. Microsoft Corporation (NASDAQ:MSFT)
Trailing Twelve Months Net Income: $67.5 billion
Number of Hedge Fund Holders In Q3 2022: 269
Microsoft Corporation (NASDAQ:MSFT) is a hardware and software company known primarily for its Windows operating system. The firm also has other business divisions such as cloud computing and notebooks.
Catching up on the latest artificial intelligence powered conversational assistant hype, Microsoft Corporation (NASDAQ:MSFT) also plans to show off its own software soon. By the end of 2022’s September quarter, 269 of the 920 hedge funds part of Insider Monkey’s research had held a stake in the company.
Microsoft Corporation (NASDAQ:MSFT)’s largest investor is Michael Larson’s Bill & Melinda Gates Foundation Trust which owns 39 million shares that are worth $9 billion.
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1. Apple Inc. (NASDAQ:AAPL)
Trailing Twelve Months Net Income: $95 billion
Number of Hedge Fund Holders In Q3 2022: 140
Apple Inc. (NASDAQ:AAPL) is the largest consumer electronics and technology company in the world. Its iPhone smartphone is one the best selling devices on the planet, and over the years, Apple has also diversified into software and financial services.
Apple Inc. (NASDAQ:AAPL) is a rare silicon valley technology company that is yet to lay off any employees during the current wave, as analysts believe the firm has avoided this by avoiding excessive hiring in the first place. 140 of the 920 hedge funds part of Insider Monkey’s Q3 2022 study had invested in the firm.
Apple Inc. (NASDAQ:AAPL)’s largest investor is Warren Buffett’s Berkshire Hathaway which owns 894 million shares that are worth $123 billion.
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Disclosure: None. You can also take a peek at 20 Stocks That Are Aggressively Buying Back Shares and 15 Best Cybersecurity Stocks To Buy
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