In this article, we discuss the 10 popular stocks to buy right now. If you want to read our detailed analysis of these stocks, go directly to the 10 Popular Stocks to Buy Right Now.
5. Johnson & Johnson (NYSE: JNJ)
Number of Hedge Fund Holders: 81
Johnson & Johnson (NYSE: JNJ) ranks 5th on the list of the 10 popular stocks to buy right now. The multinational healthcare company based in New Jersey offers products ranging from baby care, skin care, nutrition, women’s health, etc. The company has over 250 subsidiaries and 78,000 suppliers worldwide.
Earlier this year, Johnson & Johnson (NYSE: JNJ) announced that their single-dose COVID-19 vaccine sustained action against the Delta variant of SARS-CoV-2 and other widely distributed SARS-CoV-2 viral variants. Furthermore, the data revealed that the immune response was durable for at least eight months. Shares on Johnson & Johnson (NYSE: JNJ) rose 9% year to date.
On May 28, Morgan Stanley analyst David Risinger assumed coverage on Johnson & Johnson (NYSE: JNJ) with an Overweight rating and price target of $187 per share, stating that the pharmaceutical industry’s momentum should continue to be robust.
The company has a market cap of $453.47 billion and offers a dividend yield of 2.46%. In the first quarter of 2021, Johnson & Johnson (NYSE: JNJ) reported an adjusted EPS of $1.47, beating estimates by $1.16. In the fiscal second quarter, the company reported an adjusted EPS of $2.48, bearing consensus estimates of $2.27. The company’s fiscal second-quarter revenue was $23.21, beating a consensus of $22.19 billion. The stock has gained 18% in the last twelve months.
At the end of the first quarter of 2021, 81 hedge funds in the database of Insider Monkey held stakes worth $6.9 billion in Johnson & Johnson (NYSE: JNJ).
4. JP Morgan Chase & Co. (NYSE: JPM)
Number of Hedge Fund Holders: 111
JP Morgan Chase & Co. (NYSE: JPM) ranks 4th on the list of the 10 popular stocks to buy right now. The New York-based multinational investment bank has over 5,100 branches and 17,000 ATMs worldwide. JP Morgan Chase & Co. (NYSE: JPM) also operates through its online mobile banking app, Chase Bank, with over 51 million active customers.
On July 14, Credit Suisse analyst Roth Katzke raised JP Morgan Chase & Co.’s (NYSE: JPM) price target from $170 to $177 and kept his Outperform rating. Shares of JPM rose 57% over the last twelve months.
The company has a market cap of $459.46 billion and offers a dividend yield of 2.37%. In the fiscal second quarter of 2021, JP Morgan Chase & Co. (NYSE: JPM) reported an EPS of $3.78, beating estimates by $3.20. The company’s fiscal second-quarter revenue came in at $30.52 billion, beating the consensus of $29.96 billion.
There were 111 hedge funds that reported owning stakes in JP Morgan Chase & Co. (NYSE: JPM) at the end of the first quarter. The total value of these stakes at the end of Q1 is $5.25 million.
Bretton mentioned JP Morgan Chase & Co. (NYSE: JPM) in its Q4 2020 investor letter. Here is what the fund said:
“After a strong performance in 2019, we wrote this about our bank stocks in last year’s report: “There will be another recession sooner than later, and our banks will see larger loans losses, but we think this is more than priced into the stock, and our banks are well reserved for that eventuality.” Little did we know “sooner” really meant “a few weeks from now.” Despite the economic shock, the banks still have huge capital cushions that can absorb large loan losses. Our remaining bank investments, JPMorgan and Bank of America, increased their reserves significantly at the beginning of the Covid-19 crisis in anticipation of imminent loan defaults, but with the government stimulus and perhaps a more resilient economy than many would have guessed, actual loan losses are up only slightly. They might happen later in 2021, but with an additional stimulus package and the vaccine rolling out, the large-scale losses may not be as bad as most people predicted. The bigger drag on the banks’ earnings power is lower rates, which in our opinion will persist for a long time. Despite this drag, we estimate both JPMorgan and Bank of America will continue to grow revenue and earnings over the next few years, while we believe their stocks remain bargains in a somewhat expensive market. JPMorgan’s earnings per share declined 17% last year, and its stock returned -5.5%. Bank of America’s earnings, which are more sensitive to interest rates, were down 32%, and its stock returned -11.6%.”
3. Apple Inc. (NASDAQ: AAPL)
Number of Hedge Fund Holders: 127
Apple Inc. (NASDAQ: AAPL) ranks 3rd on the list of the 10 popular stocks to buy right now. The California-based consumer electronics and software company was founded in 1976. The company operates over 510 stores in 25 countries, including China, Australia, South Korea, Taiwan, Singapore, Macao, and Mexico.
In 2020, Apple Inc. (NASDAQ: AAPL) paid $50 million for self-learning AI video company Vilynx. The AI platform is used to produce video previews and suggests comparable content through the use of computer vision.
On August 2, Loop Capital analyst Ananda Baruah raised Apple Inc.’s (NASDAQ: AAPL) price target to $165 for $150 per share and kept his Buy rating on the stock. The analyst commented that continued average price gains could position the stock for a strong 2H 2021 than expected.
The company has a market cap of $2.41 trillion and offers a dividend yield of 0.60%. In the fiscal third quarter of 2021, Apple Inc. (NASDAQ: AAPL) had an EPS of $1.30, beating estimates by $1.00. In the fiscal third quarter, the company’s revenue was $81.40 billion, beating consensus estimates of $72.93 billion. Apple Inc. (NASDAQ: AAPL) has gained 38% in the last twelve months.
There were 123 hedge funds that reported owning stakes in Apple Inc. (NASDAQ: AAPL) at the end of the first quarter. The total value of these stakes at the end of Q1 is $130 billion.
ClearBridge Investments mentioned Apple Inc. (NASDAQ:AAPL) in its Q1 2021 investor letter. Here is what the fund said:
“As we actively manage holdings and position sizes, we look to regularly recycle capital into more compelling opportunities. Maintaining our valuation discipline, we sharply reduced our position in Apple, whose shares more than doubled following our initial purchase in mid-2019 with an earnings multiple rising from the low-to-mid teens to nearly 30x.”
2. Alphabet Inc. (NASDAQ: GOOGL)
Number of Hedge Fund Holders: 185
Alphabet Inc. (NASDAQ: GOOGL) ranks 2nd on the list of the 10 popular stocks to buy right now. The California-based multinational tech firm is Google’s parent company. Alphabet Inc. (NASDAQ: GOOGL) operates all value-added services of Google such as YouTube, Google Maps, Google Play, and Android. In addition, the company also caters to advertisements through its Google Ads with over 2 million active accounts.
In January 2021, Alphabet Inc. (NASDAQ: GOOGL) acquired fitness tracking company Fitbit in a $2.1 billion deal. The acquisition placed the company in a good position in the wearables market. The shares of Alphabet Inc. (NASDAQ: GOOGL) rose 14% in the last three months.
On August 2, Argus Research analyst Joseph Bonner raised Alphabet Inc.’s (NASDAQ: GOOGL) price target to $3,100 per share from $2,800 previously and kept a buy rating. The analyst mentioned that the company’s advertising revenue grew at a healthy rate.
The company has a market cap of $1.80 trillion. The company’s second-quarter EPS was $27.26, beating consensus EPS of $19.21. Alphabet Inc.’s (NASDAQ: GOOGL) revenue was $61.88 billion, beating consensus estimates of $56.02 billion driven by online activity.
By the end of the first quarter of 2021, 185 hedge funds out of the 866 tracked by Insider Monkey held stakes in Alphabet Inc. (NASDAQ: GOOGL), worth roughly $24.5 billion.
Ensemble Capital mentioned Alphabet Inc. (NASDAQ: GOOGL) in its Q2 2021 investor letter. Here is what the fund said:
“Google: While Google’s stock was up 31% in 2020, handily beating the S&P 500, it was one of the weaker performing Big Five tech giants. With the company posting blow-out reports in the most recent quarters, the stock has soared 40% this year, making it the best performing of the Big Five this year. In the most recent quarter, the stock rallied 18% in the wake of the company reporting its largest beat of estimated earnings before interest and taxes in over a decade. Amazingly, the company is now reporting revenue more than 50% above the level it was generating two years ago, even though travel related advertising, which is one of Google’s largest advertising categories, has not yet rebounded.”
1. Amazon.com, Inc. (NASDAQ: AMZN)
Number of Hedge Fund Holders: 243
Topping the list of the 10 popular stocks to buy right now is Amazon.com, Inc. (NASDAQ: AMZN). The Washington-based technology giant engages in e-commerce, cloud computing, digital streaming, and artificial intelligence. Amazon.com, Inc. (NASDAQ: AMZN) is one of the popular stocks to buy right now, with over 100 million subscribers.
Earlier this year, Amazon.com, Inc. (NASDAQ: AMZN) acquired TV company MGM Studios Inc. in an $8.45 billion deal. The acquisition will help boost Amazon’s Prime Video program.
Despite massive returns, the stock still has a lot of room to run, according to market analysts.
On August 2, Stifel analyst kept Amazon.com, Inc’s. (NASDAQ: AMZN) $4,400 price target and Buy rating on the stock, highlighting that Amazon has passed through the difficult transition period and believes the setting is appealing as the stock is “on the other side of the COVID comp reset.”
The company has a market cap of $1.68 trillion. In the second quarter of 2021, Amazon.com, Inc. (NASDAQ: AMZN) had an EPS of $15.12, beating estimates by $2.9. In the second quarter, the company’s revenue came in at $113.1 billion, beating the consensus of $115.07 billion. Shares of Amazon.com, Inc. (NASDAQ: AMZN) rose 2.17% year to date.
At the end of the first quarter of 2021, 243 hedge funds in the database of Insider Monkey held stakes worth $50.42 billion in Amazon.com, Inc. (NASDAQ: AMZN).
LongRiver Investments mentioned Amazon.com, Inc. (NASDAQ: AMZN) in its Q2 2021 investor letter. Here is what the fund said:
“There are a few new learning positions too, as I described I would make in my previous letter. I’ve written on my blog about Amazon (here) if you’d like to learn about their specific investment cases.
‘Amazon Unbound: Jeff Bezos and the Invention of a Global Empire‘ is author Brad Stone’s follow up to his 2013 book, ‘The Everything Store: Jeff Bezos and the Age of Amazon‘. If the first book was Amazon’s origin story, this second is a recounting of the wide array of bets the company placed over the last decade; where its ambitions put it into conflict with its ideals; where its size has brought it uncomfortably into the public eye; and Bezos’ own personal journey from outsider to collosus. This is a great book if you want to learn about the history of products and services which have come to define Amazon-like Alexa, Prime Video and Amazon Go; as well as the company’s ongoing efforts in eCommerce and logistics; and its hopes to dominate in emerging markets like India, Brazil and Mexico…” (Click here to see the full text)
You can also take a peek at the 10 Best Finance Stocks that Pay Dividends and 10 Best Low Float Stocks to Buy Now.
