5 Most Profitable Large Cap Stocks to Buy

3. Johnson & Johnson (NYSE:JNJ)

Net Profit TTM: $34.62 billion

Number of Hedge Fund Holders: 84

Johnson & Johnson (NYSE:JNJ) is one of the largest healthcare companies in the world with a history dating back to more than 135 years. It focuses on the research and development, manufacture, and sale of a broad range of products in the healthcare field across pharmaceuticals, and medical devices.

Johnson & Johnson (NYSE:JNJ) completed the spinoff of its Consumer Health division during the third quarter through an initial public offering of the division as Kenvue Inc. (NYSE:KVUE). The company generated cash proceeds of $13.2 billion through a debt offering and IPO of Kenvue. It retained 9.5% stake in Kenvue.

As of Q3 2023, 84 hedge funds owned shares of Johnson & Johnson (NYSE:JNJ), valued at $4.1 billion. Notable investors included Fisher Asset Management, Bridgewater Associates, and D E Shaw, among others.

Like other stocks such as Amazon.com, Inc. (NASDAQ:AMZN), NVIDIA Corporation (NASDAQ:NVDA), and Microsoft Corporation (NASDAQ:MSFT), Johnson & Johnson (NYSE:JNJ) is among the 14 most profitable large cap stocks to buy.