Stocks On the Rise: 5 Best To Buy Now

In this piece, we will take a look at the five best stocks to buy that are on the rise. If you want to skip our primer on the stock market and momentum investing, then head on over to Stocks On the Rise: 13 Best To Buy Now.

5. The TJX Companies, Inc. (NYSE:TJX)

Number of Hedge Fund Investors In Q1 2023: 73

The TJX Companies, Inc. (NYSE:TJX) is an American discount retailer. It is the first stock on our list which is rated Strong Buy on average by analysts. The shares are up 8.7% year to date, and Barclays maintained an Overweight rating on the shares in August 2023 just before The TJX Companies, Inc. (NYSE:TJX) is set to release its earnings.

73 of the 943 hedge funds part of Insider Monkey’s Q1 2023 database had held a stake in The TJX Companies, Inc. (NYSE:TJX).  Panayotis Takis Sparaggis’s Alkeon Capital Management is the firm’s largest shareholder as of June 2023, owning 5.1 million shares that are worth $433 million.

4. Intuit Inc. (NASDAQ:INTU)

Number of Hedge Fund Investors In Q1 2023: 86

Intuit Inc. (NASDAQ:INTU) is a software firm that serves the needs of businesses by allowing them to maintain records and manage payroll. Its shares are also rated Strong Buy on average and have an $11 upside based on the average share price target.

During this year’s first quarter, 86 of the 943 hedge funds polled by Insider Monkey had bought the firm’s shares. Intuit Inc. (NASDAQ:INTU)’s largest investor during the second quarter was Ken Fisher’s Fisher Asset Management through a stake worth $1.2 billion.

3. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Investors In Q1 2023: 131

Apple Inc. (NASDAQ:AAPL) is the largest consumer electronics firm in the world. Like other mega cap firms, its shares have also performed well on the market this year. Apple Inc. (NASDAQ:AAPL)’s shares are rated Buy on average, and the company is gearing up for its 2023 smartphone upgrade for a potential launch in September.

Insider Monkey dug through 943 hedge funds for 2023’s March quarter and found out that 131 had invested in Apple Inc. (NASDAQ:AAPL). During the June quarter, Warren Buffett’s Berkshire Hathaway remained its biggest stakeholder, with an investment of $177 billion.

2. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Investors In Q1 2023: 138

Mastercard Incorporated (NYSE:MA) is a payments platform and financial services provider. The company announced in August 2023 that it will expand its global portfolio by buying a stake in an African firm.

As of March 2023, 138 out of the 943 hedge funds profiled by Insider Monkey had held a stake in the company. Mastercard Incorporated (NYSE:MA)’s largest shareholder as of Q2 2023 end is Charles Akre’s Akre Capital Management since it owns a $2.3 billion investment.

1. Visa Inc. (NYSE:V)

Number of Hedge Fund Investors In Q1 2023: 173

Visa Inc. (NYSE:V) is another payment and financial services firm. The shares are rated Strong Buy on average and have a nice $37 upside based on the average analyst price targets.

173 of the 943 hedge funds part of Insider Monkey’s Q1 2023 database had invested in Visa Inc. (NYSE:V). In the following quarter, Chris Hohn’s TCI Fund Management was the largest investor courtesy of a $4.2 billion stake.

Disclosure: None. You can also take a look at 10 Recession-Proof Stocks Billionaires Are Loading Up On and 12 Best Quality Penny Stocks to Buy.

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