META, AVGO, LAAC, DIS, NVDA, AMD & LLY - The seven most institutional favorite U.S. stocks
Let's take a look at the seven hottest US stocks that are currently winning the hearts of institutional investors. Grab these trading opportunities!
1. $Meta Platforms, Inc.(META)$
Meta has been all the buzz this year among institutions. With nearly $722 billion in institutional holdings by March 2024, it's no wonder the stock is up 32% since the start of the year. 808 institutional investors piled in during March, almost rivaling $NVIDIA Corp(NVDA)$ .
And with a 27% revenue jump in Q1 and net income doubling to 117%, they're clearly on a roll. Plus, their big strides in Llama 3 AI and ambitions to be a major AI player? Just adds to the excitement.
2. $Broadcom(AVGO)$
Institutional investors hold nearly $430 billion in Broadcom stock by the end of March. One big reason? Stability. And Broadcom shows that by consistently rewarding shareholders with dividends — they haven't cut them since 2011! A healthy payout ratio is always a good sign.
3. $LITHIUM AMERICAS ARGENTINA CORP(LAAC)$
Hold up, this isn't the Lithium Americas with the Thacker Pass mine in Nevada. This one's focused on lithium assets in Argentina. And in Q4 last year, they produced 4,500 tons of lithium, aiming for up to 40,000 tons in 2024.
Institutional investors increased their holdings by over 1700% in March — that's some serious bullish sentiment!
4. $Walt Disney(DIS)$
Disney stock has been a bit of a roller coaster for investors. They've made great strides in making their streaming business profitable and are focused on aggressive cost-cutting. But some critics say that shows a lack of viable growth targets and overall potential.
But hey, a 12% gain this year and profitability in the first quarter for their streaming biz? That's gotta be why institutions are bullish.
5. $NVIDIA Corp(NVDA)$
Nvidia's stock is a darling of institutional investors on so many fronts. After another quarter of strong earnings, institutional investors are ramping up their buying of Nvidia even as the stock has crossed the $1,000 mark.
TD Cowen just raised its price target on the stock to $1,200. And Nvidia just reported its highest quarterly profit and sales figures ever. Analysts have been giving Nvidia higher and higher targets.
Retail investors, get ready for institutional money to pour in after this latest earnings report, pushing the stock even higher!
6. $Advanced Micro Devices(AMD)$
AMD's stock dipped after Nvidia's strong earnings report, but that was probably an overreaction. You know what? $Microsoft(MSFT)$ is using AMD's MI300x chips extensively.
And as they continue to improve, who knows, AMD could one day surpass Nvidia. The biggest thing? AMD doesn't have the same heavy price pressures as Nvidia.
7. $Eli Lilly(LLY)$
Eli Lilly is one of Wall Street's favorite stocks among retail and institutional investors in 2024. Their Mounjaro and Zepbound drugs are already proving to be incredible growth drivers in 2024, revenue grew 26% in Q1. Sales far exceeded Wall Street analysts' expectations, leading Eli Lilly to raise their 2024 sales forecast.
Zepbound and Mounjaro are likely to deliver on their promise as blockbuster drugs that rewrite the sales numbers in the pharmaceutical industry.
Meanwhile, the company continues to work towards developing a once-weekly insulin injection to replace the current daily one, so future demand is likely to be very strong.
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