In this article, we will look at the 10 Most Profitable NYSE Stocks to Buy Now.
On August 5, Ryan Detrick, Carson Group chief market strategist, appeared on CNBC’s ‘Closing Bell: Overtime’ to talk about the bull rally and why he expects weakness in August.
Detrick considers this a volatile time for the market with weak labor data, but simultaneously does not consider it a reason to sell. He stated that the market saw a 28% summer rally, but spoke against blindly investing in seasonals.
August has historically been one of the weakest months, especially in a post-election year and with a second-term president, which is why, according to him, it is wise to prepare for some bumps.
Detrick’s take on the sector positioning is industrials, techs, and financials, while being overweight to large caps.
READ ALSO: 10 Oversold NYSE Stocks to Buy Now and 10 NYSE Stocks with the Highest Upside Potential.
He added that one of his near-term worries is that the number of stocks above their 20-day moving average has been trending a little lower in the past few days while the S&P has been moving higher, which may suggest that it is time to take a break.
The reality, however, according to Detrick, is that we are still in a global bull market, led by strong earnings and profit margins.
The strategist stated that amid these circumstances where we have been “spoiled”, it is prudent to be cautious and expect some turbulence over the next several weeks.
With these trends in view, let’s look at the most profitable NYSE stocks to buy now.
A close-up view of a stock market floor, traders bustling around the trading board.
Our Methodology
We used stock screeners to make a list of profitable NYSE stocks (with a TTM net income over $500 million) and selected the top 10 with the highest number of hedge fund holders as of Q1 2025. We sourced the hedge fund sentiment data from Insider Monkey’s database. The list is sorted in ascending order of hedge fund holders.
Note: All data was sourced on August 6.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
10 Most Profitable NYSE Stocks to Buy Now
10. Oracle Corporation (NYSE:ORCL)
TTM Net Income: $12.44 billion
Number of Hedge Fund Holders: 97
Oracle Corporation (NYSE:ORCL) is one of the top most profitable NYSE stocks to buy now. On August 6, TD Cowen raised the firm’s price target on Oracle Corporation (NYSE:ORCL) to $325 from $275, keeping a Buy rating on the shares.
The firm told investors that it updated its model after a July 22 OpenAI blog that reflected the advancement of Stargate with an expanded 4.5GW DC partnership with Oracle.
This raises the probability of blue sky scenarios that the firm discussed previously, supporting the optimistic rating for Oracle Corporation (NYSE:ORCL).
Oracle Corporation (NYSE:ORCL) provides products and services addressing aspects of corporate IT environments, including applications and infrastructure technologies. The company’s operations are divided into the following business segments: Cloud and License, Hardware, and Services.
9. Bank of America Corporation (NYSE:BAC)
TTM Net Income: $26.59 billion
Number of Hedge Fund Holders: 117
Bank of America Corporation (NYSE:BAC) is one of the top most profitable NYSE stocks to buy now. In a report released on August 1, Vivek Juneja from J.P. Morgan maintained a Buy rating on Bank of America Corporation (NYSE:BAC), setting a price target of $51.00.
In other news, Bank of America Corporation (NYSE:BAC) announced on July 23 that its Board of Directors declared a regular quarterly cash dividend on common stock of $0.28 per share, up $0.02 from the previous quarter. The dividend is payable on September 26 to shareholders of record as of September 5.
Bank of America Corporation (NYSE:BAC) also reported that its Board authorized a new $40 billion common stock repurchase program, effective August 1. The new program would replace the company’s current program expiring on that date.
Bank of America Corporation (NYSE:BAC) is a bank and financial holding company that operates in the Consumer Banking, Global Wealth and Investment Management (GWIM), Global Banking, and Global Markets segments.
