7 Best Stocks to Buy for Long Term

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

Number of Hedge Fund Holders: 111

JPMorgan Chase & Co. (NYSE:JPM) is one of the best stocks to buy for the long term. The multinational finance entity serves millions of customers in over 100 countries and territories. It specializes in investment banking solutions, risk management services, and capital-raising services to companies, institutions, and the government.

In August, JPMorgan Chase & Co. (NYSE:JPM) launched a generative AI assistant that helped its employees complete tedious tasks. As for customers, the company introduced several features for customers to ease payment mechanisms and facilitate data management.

In addition to that, the company expanded its partnership with Oracle to improve payments across treasury, trade, and commerce. Not to mention, JPMorgan recently expanded biometric solutions for merchants in the US, making shopping convenient for buyers and sellers alike.

As of March 31, JPMorgan Chase & Co. (NYSE:JPM) has $4.1 trillion in assets and $3.6 trillion in assets in management, making it one of the largest banks in the United States. JPMorgan Chase & Co.’s (NYSE:JPM) strong customer base is a testament to its financial performance.

The stock was held by 111 hedge funds in the second quarter of 2024. According to the Insider Monkey database, Fisher Asset Management is the top shareholder of the company with a position worth $2.58 billion.

Carillon Tower Advisers Carillon Eagle Growth & Income Fund stated the following regarding JPMorgan Chase & Co. (NYSE:JPM) in its first quarter 2024 investor letter:

“JPMorgan Chase & Co. (NYSE:JPM) contributed positively to performance following solid financial results and positive guidance for the remainder of 2024. Moreover, growing chatter around rising capital markets activity likely contributed to the stock’s strong performance relative to other banks. Recall that JPMorgan has a robust capital markets franchise.”