In this article, we discuss the 5 most profitable stocks of the last 12 months. If you want to read our detailed analysis of these stocks, go directly to 23 Most Profitable Stocks of the Last 12 Months.
5. JPMorgan Chase & Co. (NYSE:JPM)
Number of Hedge Fund Holders: 103
Net Income: $48.5 Billion
JPMorgan Chase & Co. (NYSE:JPM) operates as a financial services company worldwide. On March 13, investment advisory RBC Capital maintained an Outperform rating on JPMorgan Chase & Co. (NYSE:JPM) stock with a price target of $185.
At the end of the fourth quarter of 2023, 103 hedge funds in the database of Insider Monkey held stakes worth $9 billion in JPMorgan Chase & Co. (NYSE:JPM), compared to 109 in the preceding quarter worth $6 billion.
In its Q4 2023 investor letter, Carillon Tower Advisers, an asset management firm, highlighted a few stocks and JPMorgan Chase & Co. (NYSE:JPM) was one of them. Here is what the fund said:
“PNC Financial and JPMorgan Chase & Co. (NYSE:JPM) performed well due to more benign inflation data, which the market likely interpreted as a sign that a recession is now less likely to occur. Recall that historically speaking, banks are hyper-cyclical stocks and typically will trade lower if investors foresee a recession, because recessions tend to trigger loan losses.”
4. Alphabet Inc. (NASDAQ:GOOG)
Number of Hedge Fund Holders: 166
Net Income: $73.8 Billion
Alphabet Inc. (NASDAQ:GOOG) is a California-based technology firm. Among the hedge funds being tracked by Insider Monkey, Texas-based investment firm Fisher Asset Management is a leading shareholder in Alphabet Inc. (NASDAQ:GOOG) with 45 million shares worth more than $6.3 billion.
In its Q3 2023 investor letter, Weitz Investment Management, an asset management firm, highlighted a few stocks and Alphabet Inc. (NASDAQ:GOOG) was one of them. Here is what the fund said:
“As for other quarterly contributors, Alphabet Inc. (NASDAQ:GOOG) and Meta Platforms, Inc., (META) added to their exceptional year-to-date returns. Meta Platforms and Alphabet were the true year-to-date standouts. After steep declines in 2022, both stocks rebounded sharply due to a combination of solid fundamentals, disciplined operational execution, and improved sentiment. Despite outsized gains and attention, we think both Alphabet and Meta remain undervalued.”
3. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 302
Net Income: $83 Billion
Microsoft Corporation (NASDAQ:MSFT) is a Washington-based technology company. On March 6, investment advisory Jefferies maintained a Buy rating on Microsoft Corporation (NASDAQ:MSFT) stock with a price target of $500.
Among the hedge funds being tracked by Insider Monkey, Texas-based investment firm Fisher Asset Management is a leading shareholder in Microsoft Corporation (NASDAQ:MSFT) with 25 million shares worth more than $9.5 billion.
In its Q4 2023 investor letter, Fred Alger Management, an investment management firm, highlighted a few stocks and Microsoft Corporation (NASDAQ:MSFT) was one of them. Here is what the fund said:
“Microsoft Corporation (NASDAQ:MSFT) is a beneficiary of corporate America’s transformative digitization. Microsoft’s CEO expects technology spending as a percent of Gross Domestic Product (GDP) to jump from about 5% now to 10% in 10 years and that Microsoft will continue to capture market share within the technology sector. The company operates through three segments: Productivity and Business Processes (Office. LinkedIn, and Dynamics), Intelligent Cloud (Server Products and Cloud Services, Azure, and Enterprise Services), and More Personal Computing (Windows, Devices. Gaming, and Search). During the quarter, the company reported strong fiscal first quarter results, where revenues and earnings beat analyst estimates, driven in large part to growing Al demand. Regarding Intelligent Cloud segment, management noted Azure optimizations were similar to the previous quarter, but new Al and traditional workloads are helping drive greater consumption growth, which resulted in their first reacceleration since March 2022. We believe the strong Azure performance suggests diminishing cost optimization headwinds and growing strength in Al service consumption.”
2. Berkshire Hathaway Inc. (NYSE:BRK-B)
Number of Hedge Fund Holders: 117
Net Income: $96.2 Billion
Berkshire Hathaway Inc. (NYSE:BRK-B) is a diversified conglomerate with interest in insurance, finance, and other sectors. Among the hedge funds being tracked by Insider Monkey, Washington-based Bill & Melinda Gates Foundation Trust is a leading shareholder in Berkshire Hathaway Inc. (NYSE:BRK-B) with 19.9 million shares worth more than $7.1 billion.
1. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 131
Net Income: $100 Billion
Apple Inc. (NASDAQ:AAPL) is a consumer electronics firm. On March 5, investment advisory Wedbush maintained an Outperform rating on Apple Inc. (NASDAQ:AAPL) stock with a price target of $250.
At the end of the fourth quarter of 2023, 131 hedge funds in the database of Insider Monkey held stakes worth $205 billion in Apple Inc. (NASDAQ:AAPL), compared to 134 in the previous quarter worth $179 billion.
In its Q4 2023 investor letter, Horizon Kinetics LLC highlighted a few stocks and Apple Inc. (NASDAQ:AAPL) was one of them. Here is what the fund said:
“The full point is that if BYD has turned its attention from its domestic market to direct global competition, then other Chinese companies can do the same. The next most visible example of Chinese commercially applied technological prowess relates to the 2nd highest-weight company in the S&P 500, Apple Inc. (NASDAQ:AAPL).In September 2023, Huawei Technologies introduced its Mate 60 Pro smartphone. It uses its own, internally developed 5G enabled chip that is apparently competitive with the Apple A17 chip. For practical purposes it has the functionality of the iPhone 15 Pro. This came as a great surprise – perhaps even shock – to the U.S. technology community, because four years ago the U.S. placed strict sanctions on China’s access to state-of-the-art semiconductor manufacturing technology…” (Click here to read the full text)
You can also take a peek at 14 Best Hot Stocks To Buy Now and 12 Best Foreign Stocks With Dividends.
