In this article, we discuss the 5 best revenue growth stocks to invest in. If you want to read about some more such stocks, go directly to the 11 Best Revenue Growth Stocks to Invest in.
5. Mastercard Incorporated (NYSE:MA)
Number of Hedge Fund Holders: 141
Quarterly Revenue Growth: 12.69%
Headquartered in Purchase, New York, Mastercard Incorporated (NYSE:MA) ranks second globally among payment-processing corporations, providing an extensive array of financial services such as credit and debit cards, along with offerings in data analytics, settlements, and payment deferrals.
As of February 16, Mastercard Incorporated (NYSE:MA) offers a quarterly dividend of $0.66 per share, equating to a dividend yield of 0.56%. With an impressive track record of dividend growth spanning 10 consecutive years, Mastercard Incorporated (NYSE:MA) presents itself as an attractive option for investors aiming for stable returns.
As of the end of the fourth quarter of 2023, 141 hedge funds out of the 933 funds tracked by Insider Monkey had stakes in the payments giant Mastercard Inc (NYSE:MA).
4. Alphabet Inc. (NASDAQ:GOOG)
Number of Hedge Fund Holders: 166
Quarterly Revenue Growth: 14.30%
Alphabet Inc. (NASDAQ:GOOG), a prominent figure in the technology industry, is best known for its flagship product, Google, which serves as a leading search engine processing billions of daily queries. The company boasts a diverse portfolio that includes platforms for video streaming and productivity, with YouTube standing out as a key asset. Furthermore, Alphabet Inc. (NASDAQ:GOOG) is active in the retail sector, offering various electronic devices, including smartphones, ultra-thin notebooks, and speakers.
As of December 2023 end, 166 out of the 933 hedge funds covered by Insider Monkey’s research had held a stake in the company. The largest Alphabet Inc. (NASDAQ:GOOG) shareholder is Ken Fisher’s Fisher Asset Management since it holds $6.3 billion worth of shares.
3. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 173
Quarterly Revenue Growth: 205.51%
NVIDIA Corporation (NASDAQ:NVDA), an American multinational technology company headquartered in Delaware, is highly regarded for its expertise in integrated circuit development. The company’s proficiency spans various devices, from electronic game consoles to personal computers (PCs). Notably, NVIDIA’s stock witnessed a remarkable surge of over 230% in 2023, attributed to its leading position in the market for advanced AI chips.
173 out of the 933 hedge funds tracked by Insider Monkey had held a stake in NVIDIA Corporation (NASDAQ:NVDA) during Q4 2023. Rajiv Jain’s GQG Partners was the biggest stakeholder as it had invested $6.8 billion in the company.
2. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 293
Quarterly Revenue Growth: 13.91%
Amazon.com, Inc. (NASDAQ:AMZN), a prominent American multinational technology company, boasts a diverse portfolio of business interests, spanning e-commerce, cloud computing through Amazon Web Services (AWS), online advertising, digital streaming, and artificial intelligence. The company’s e-commerce platform is highly diversified, offering a vast array of products, including gourmet food, groceries, apparel, baby products, consumer electronics, beauty products, and more.
During 2023’s December quarter, 293 out of the 933 hedge funds covered by Insider Monkey’s research had held a stake in the firm. Amazon.com, Inc. (NASDAQ:AMZN)’s largest hedge fund investor is Ken Fisher’s Fisher Asset Management due to its $6.4 billion stake.
1. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 302
Quarterly Revenue Growth: 17.58%
Based in Redmond, Washington, Microsoft Corporation (NASDAQ:MSFT) is a leading technology company renowned for its diverse range of products and services. These offerings encompass operating systems, cross-device productivity applications, server applications, business solution applications, desktop and server management tools, software development tools, and video games.
Microsoft Corporation (NASDAQ:MSFT) received accolades from Wall Street following its December quarter results announced on January 31, which surpassed expectations. The positive reception underscores the company’s increasing benefits from artificial intelligence, which are only beginning to unfold. Notably, AI played a pivotal role in driving a six-percentage-point growth for Azure in the quarter, resulting in a 30% overall growth rate, surpassing the company’s earlier guidance.
302 out of the 933 hedge funds part of Insider Monkey’s Q4 2023 database had bought and owned Microsoft Corporation (NASDAQ:MSFT)’s shares. Michael Larson’s Bill & Melinda Gates Foundation Trust was the biggest shareholder since it held $14.3 billion worth of shares.
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