5 Best Large-Cap Growth Stocks to Invest In Right Now

Large-cap companies are often well-established, profitable firms with long track records of delivering results for their customers and shareholders. Growth stocks are those considered by Wall Street to have above-average growth potential compared to their peers in the same industry or industrial sector. As an asset class, large-cap growth stocks offer relative stability, great capital appreciation potential and, in many cases, a good dividend income – all very attractive qualities to have in a long-term investment.

More conservative investors with a lower risk tolerance appreciate large-cap growth stocks because they can be less volatile compared to small- or mid-sized value stocks. All stocks fluctuate up and down with the market and other factors, but shares of large-cap growth companies are usually less vulnerable to dramatic price swings and big drawdowns.

Large, growing companies often do business worldwide. In that sense, many large-cap growth stocks offer investors global diversification regardless of where they're headquartered. An international presence can benefit shareholders by reducing risk through broad exposure to many countries in different regions of the world.

Many large-cap growth stocks are considered blue chips. They've been around for a long time, they have solid financials, strong revenue, good current and forward earnings, and decent dividends. With all of this in mind, here is a list of five high-quality, large-cap growth stocks to invest in today and hold for the future:

Johnson Controls International PLC (ticker: JCI)

Visa Inc. (V)

Walmart Inc. (WMT)

Microsoft Corp. (MSFT)

Apple Inc. (AAPL)

5 Best Large-Cap Growth Stocks to Invest: Johnson Controls International PLC (JCI)

JCI is a $44 billion company that makes standard and custom-designed building products and integrated building systems for customers in the U.S., Asia, Europe and several other regions around the world. The company may be best known for its heating, ventilation and air conditioning (HVAC) systems, but it's also quite prominent in security, fire detection, refrigeration and energy-efficiency systems.

One of the fastest growing and most interesting aspects of the company's business is what it calls its smart building solutions. It involves computer and cloud-based, data-driven hardware and software products commercial customers use to turn their properties into smart buildings. The products and services enhance the efficiency, comfort and safety of workspaces while making big improvements in the usability of existing systems.

In a recent research note, CFRA Equity Analyst Emily Nasseff Mitsch reiterated her "buy" rating on JCI. She noted healthy long-term sales growth and good prospects for smart and green building systems going forward.

JCI reported $3.50 in per-share earnings on $26.79 million in revenue for 2023. Nasseff Mitsch is estimating earnings of $3.56 per share and $28 million in revenue for 2024. The Wall Street consensus on JCI for 2024 is $3.61 in earnings and $27.8 million in revenue. The stock pays an annualized dividend of $1.48, which works out to a current yield of 2.3%.

5 Best Large-Cap Growth Stocks to Invest: Visa Inc. (V)

Visa is a large-cap growth stock with an impressive market capitalization that tops $551 billion. The company is very well known in the consumer credit card industry and is becoming predominant in payment processing as well. V has been able to maintain its long-term leadership status by developing and implementing cutting-edge financial technology, or fintech, that has kept it on the forefront of the financial transaction processing and reporting business.

The company can also be looked at as a fast-growing cybersecurity firm. In recent years, Visa has established itself as a global leader in digital fraud detection and mitigation technology.

Visa's revenue growth is truly impressive. Ten years ago, the company ended its 2014 fiscal year with $12.7 billion in revenue. For fiscal 2024, Wall Street estimates Visa will report $35.8 billion in revenue. If it hits that number, Visa will achieve 182% revenue growth over a decade.

V is not an income stock, but it will distribute $2.08 per share in dividends in 2024 for an annualized yield of 0.75%.

5 Best Large-Cap Growth Stocks to Invest: Walmart Inc. (WMT)

With more than 4,600 brick-and-mortar locations in the U.S. and a well-established and fast-growing e-commerce business, WMT is a retail powerhouse. In fact, considering that Wall Street estimates $673.4 billion in revenue for its current fiscal year of 2025, this $488 billion, 62-year-old company remains the largest retailer in the world when measured by total sales.

WMT has three divisions – Walmart U.S.A., Walmart International and Sam's Club – and all of them are booming. It operates large supercenter stores that all include thousands of items for sale and a full inventory of fresh and packaged groceries, smaller stores they call Walmart Neighborhood Markets and big box, member-only warehouse clubs that compete head-to-head with Costco Wholesale Corp. (COST) locations.

Year to date, WMT stock has appreciated about 13.8% and pays a current dividend of 83 cents a year, giving it a 12-month yield of 1.37%.

Morgan Stanley has an "overweight" rating on WMT, while CFRA maintains a "buy" rating and RBC Capital rates the stock "outperform."

5 Best Large-Cap Growth Stocks to Invest: Microsoft Corp. (MSFT)

Microsoft has a market cap of more than $3 trillion, making it more than a large-cap growth stock; it's a mega-cap growth stock. MSFT is one of the largest and best known technology companies in the world. It offers a wide variety of software, hardware components, gaming systems and cloud computing services for individuals and institutions worldwide. In addition to its ubiquitous Office Suite products, MSFT is the preeminent player in computer operating systems.

Brad Sills and Adam Bergere cover MSFT for Morgan Stanley Equity research. In their latest research report on April 1, they maintained their "buy" rating on the stock and reiterated their $480 12-month price target. If the stock hits that target, current shareholders will enjoy 12.6% upside from here.

As the rational for their optimistic opinion, Sills and Bergere cited that MSFT is positioned very well for sustained growth over the next three to five years. They were especially impressed with the long-term potential of the firm's Azure cloud infrastructure platform and growth in the gaming segment.

Income investors will appreciate that MSFT has raised its annual dividend every year for 22 consecutive years. The current annualized dividend is $3.00, which equates to a 0.71% yield.

5 Best Large-Cap Growth Stocks to Invest: Apple Inc. (AAPL)

AAPL is one of the most widely held stocks in the world, and it's no wonder that it shores up this list.

An undisputed technology giant with a market cap of more than $2.6 trillion, Wall Street estimates that AAPL will generate $387.2 billion in revenue and report $6.55 in earnings per share for 2024. Next year, analysts expect even more from the company. The 2025 revenue estimate is a staggering $411.9 billion, with earnings projected at $7.15. These are lofty figures that will be difficult to achieve, but if AAPL does deliver, it would mean 6.3% top-line and 9.1% bottom-line one-year growth. That would be extraordinary for such a large company.

AAPL has been a consistent large-cap growth stock performer for much of the 21st century. The company achieved this by generating unprecedented levels of brand loyalty among its many millions of customers around the world. This and its commitment to developing new and innovative products should fuel growth well into the future.

According to the company's latest round of financial reports released in December 2023, AAPL had more than $73 billion in cash on hand at the close of 2023. Some of that cash is earmarked to fund the company's aggressive stock buyback program, which should support the stock price going forward.

Top 3 Favorite Stocks to Buy Right Now in 2024

Many investors have a list of stocks they are keeping their eye on. Some might be stocks already in the portfolio that could be added to, and others could be stocks to keep an eye on as future portfolio additions. Keeping track of potential stock buys can help investors make more informed decisions, and keep an eye on any important news.

Here are three stocks that I think are a buy right now, and that should be on any investor's list of potential investments. Each has strong historical results and a bright future. Let's dig in to see what has these companies at the top of my list.

Top 3 Favorite Stocks to Buy Right Now: Costco

If you've ever had the experience of navigating a crowded Costco Wholesale (NASDAQ: COST) parking lot just to get into the store, you've experienced why the company has grown to be the third-largest retailer in the world. Costco's membership fee business model was unique when it began, but it has been a driver of the company's results for decades. In the last 12 months, Costco brought in nearly $5 billion in membership fees.

Costco has also proven to be resilient to slowing economic conditions. While we may not be in a recession, inflation has led to people pulling back on spending, if only a little. To the extent that's the case, Costco has not felt it. In its fiscal second quarter, which ended in February, Costco reported same-store sales growth of 5.6% and an increase of 5.3% in traffic. Costco's value proposition is clear to its members, who renew at a rate of over 90%.

Top 3 Favorite Stocks to Buy Right Now: Amazon

For those not paying attention to Amazon's (NASDAQ: AMZN) stock over the past few years, it may come as a surprise that in 2022 it traded for its lowest price since early 2019. This was due to substantial operating losses in its e-commerce business because of the spending on its distribution footprint necessary to meet pandemic-fueled demand. Over the past year, the improvement has been impressive.

In fourth-quarter 2022, Amazon reported an operating loss of $240 million in its North America segment (which is essentially the e-commerce business in North America) and an operating loss of $2.2 billion in its International segment (which is essentially the e-commerce business outside of North America). In Q4 2023, these improved to an operating income of $6.6 billion in North America and an operating loss of $419 million in the International segment.

These figures are a result of a concerted effort to rightsize the business coming out of the pandemic's height. This improvement in operating results led to net income improving by more than $10 billion and free cash flow increasing by nearly $50 billion.

Top 3 Favorite Stocks to Buy Right Now: Coupang

If you read about Korean e-commerce giant Coupang (NYSE: CPNG), you'd be forgiven for assuming you were reading about Amazon instead. Taking a play directly out of the Amazon playbook, Coupang has grown to be a formidable player for e-commerce on the Korean peninsula and has recently expanded abroad, most notably into Taiwan.

In Q4 2023, Coupang reported that its active customers grew 16% year over year to 21 million. Much like Amazon's Prime offering, Coupang has a membership program called Rocket WOW that includes free shipping, free returns, and dawn and same-day delivery. Growth in WOW members was 27% in Q4, outpacing overall membership growth and demonstrating the popularity and value proposition of the Rocket WOW program.

Coupang is also starting to see economies of scale as it grows. In Q4 2023, operating income was $473 million, a substantial improvement from the $112 million operating loss posted in Q4 2022. Free cash flow followed a similar trajectory, growing by approximately $2 billion year over year.

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10 Cheap Dividend-Growth Stocks to Buy in2024

Dividend-growth stocks—those companies with a history of steady and increasing dividends over time—have lagged the broader market lately: The  US Dividend Growth Index has underperformed the  US Market Index by 14 full percentage points over the trailing one-year period.

Why the dramatic underperformance of dividend-growth stocks? Blame the narrow, tecnology-led stock market during much of that time, says Dan Lefkovitz, a strategist with  Indexes. “Dividend-payers may lag during market environments led by hot growth stocks, but in down periods like 2022 and 2018, they show resilience,” he observes.

Dividend-growth stocks have three things going for them today:

• Companies with growing dividends tend to be profitable and financially healthy, two valuable qualities during periods of economic uncertainty.
• Such companies are also more likely to have competitive advantages that may allow them to pass along price increases and thereby maintain margins during inflationary times.
• Dividend-growth stocks tend to be less volatile than the overall stock market and are therefore attractive investments for playing a little defense.

To uncover some cheap dividend-growth stocks to investigate further, we’re turning to the  US Dividend Growth Index.

10 Cheap Dividend-Growth Stocks to Buy

These stocks from the  US Dividend Growth Index have increased their dividend payments over the past five years, pay out no more than 75% of their earnings in the form of dividends, possess competitive advantages (as measured by the  Economic Moat Rating), and were trading at among the widest discounts to our fair value estimates as of March 1, 2024.

Albemarle ALB
FMC Corp. FMC
Sirius XM Holdings SIRI
Lithia Motors LAD
Baxter International BAX
Polaris PII
ResMed RMD
Comerica CMA
Eastman Chemical EMN
Humana HUM

Here’s a little bit from  analysts about each of the stocks from the list. All data is as of March 1, 2024.

Albemarle

• Price/Fair Value: 0.48
•  Economic Moat Rating: Narrow
• Forward Yield: 1.12%
•  Capital Allocation Rating: Standard
• Industry: Specialty Chemicals

Albemarle tops our list of cheap dividend-growth stocks—but its forward yield is among the lowest on our list, serving as a reminder that dividend-growth stocks aren’t necessarily high-yielding stocks. One of ’s top lithium picks, Albemarle is among our analysts’ favorite 33 undervalued stocks for the first quarter.  strategist Seth Goldstein expects lithium demand to more than triple by 2030, providing Albemarle with solid dividend growth potential ahead; we forecast earnings to average around 30% of net income over the next five years. In early March, the company announced a surprise plan to issue convertible preferred shares; depending on the terms of the offering, which have yet to be announced as of this writing, we may adjust our fair value estimate. Albemarle stock trades 52% below our current $300 fair value estimate.

FMC Corp

• Price/Fair Value: 0.52
•  Economic Moat Rating: Narrow
• Forward Yield: 4.05%
•  Capital Allocation Rating: Standard
• Industry: Agricultural Inputs

The first of three new names on our list of cheap dividend-growth stocks to buy, FMC is a pure-play crop chemical producer. FMC is also among our analysts’ top 33 undervalued stocks for the first quarter. While we think that the firm’s distributions are appropriate and that the company will generate sufficient cash flows to maintain its dividend, FMC faces cyclicality risk and as a result is carrying elevated leverage on the books as chemical crop demand approaches its cyclical bottom, explains ’s Goldstein. We think this dividend-growth stock looks attractive as it trades 48% below our $110 fair value estimate.

Sirius XM Holdings

• Price/Fair Value: 0.57
•  Economic Moat Rating: Narrow
• Forward Yield: 2.49%
•  Capital Allocation Rating: Exemplary
• Industry: Entertainment

Also new to our list of undervalued dividend-growth stocks, Sirius XM trades 57% below our fair value estimate of $7.50. Warren Buffett’s Berkshire Hathaway recently increased its position in the dividend stock. The company consists of two businesses: SiriusXM and Pandora. Sirius XM management prioritizes shareholder returns, says  senior analyst Matthew Dolgin; the firm earns an Exemplary capital allocation rating. While its board issued a special dividend in 2022 because of company outperformance in 2021, we don’t expect another special dividend anytime soon, adds Dolgin.

Lithia Motors

• Price/Fair Value: 0.60
•  Economic Moat Rating: Narrow
• Forward Yield: 0.67%
•  Capital Allocation Rating: Standard
• Industry: Auto and Truck Dealerships

Lithia Motors sells new and used vehicles and provides related services, often in rural markets where there are no competitors within 100 miles. This rural focus gives Lithia pricing power and contributes to its economic moat, says  strategist David Whiston. Whiston calls the balance sheet “healthy” and commends the firm for raising its dividend in 2020 despite the coronavirus pandemic. We view Lithia’s growth runway as excellent; in fact, Whiston calls Lithia “the most exciting growth story in our auto dealer coverage.” This cheap dividend-growth stock trades 40% below our $500 fair value estimate.

Baxter International

• Price/Fair Value: 0.61
•  Economic Moat Rating: Narrow
• Forward Yield: 2.83%
•  Capital Allocation Rating: Standard
• Industry: Medical Instruments and Supplies

Of the dividend-growth stocks on our list, Baxter International may require a longer-term mindset than some others. True, the firm can claim top-tier positions in most of its product lines and benefits from switching costs, which underpin its narrow moat rating. However, supply chain disruptions and economic uncertainty stalled Baxter in 2022 more so than some of its peers, observes  senior analyst Julie Utterback. Perhaps more troubling for dividend-growth aficionados, the company will slow the growth of its dividend as it integrates the Hillrom deal, which negatively affected its net leverage. That being said, Utterback expects Baxter to resume growing its dividend in line with earnings once the firm hits its leverage target, and we think the stock looks cheap, trading 39% below our $67 fair value estimate.

Polaris

• Price/Fair Value: 0.64
•  Economic Moat Rating: Wide
• Forward Yield: 2.82%
•  Capital Allocation Rating: Exemplary
• Industry: Recreational Vehicles

Polaris is one of the longest-operating brands in powersports.  senior analyst Jaime Katz notes that fourth-quarter earnings disappointed and the company’s forecast for 2024 is plagued by slowing industrywide demand. We nevertheless expect Polaris to produce strong cumulative cash flow over the next five years and to continue to grow its dividend, averaging a 33% payout ratio over the next decade, she adds. This dividend-growth stock to buy trades 36% below our $145 fair value estimate.

ResMed

• Price/Fair Value: 0.68
•  Economic Moat Rating: Narrow
• Forward Yield: 1.10%
•  Capital Allocation Rating: Exemplary
• Industry: Medical Instruments & Supplies

ResMed is one of two leading players in the global obstructive sleep apnea market, and we see plenty of global growth opportunity ahead, says  analyst Shane Ponraj. The firm is in a strong financial position, and while shareholder distributions might seem low (averaging 38% of underlying net income over the past five years), we think the level is appropriate, given that the company has instead chosen to spend more on strategic acquisitions that take advantage of trends in digital health in the home-care setting, concludes Ponraj. The stock looks cheap to us as it trades 32% below our $258 fair value estimate.

Comerica

• Price/Fair Value: 0.68
•  Economic Moat Rating: Narrow
• Forward Yield: 5.73%
•  Capital Allocation Rating: Standard
• Industry: Banks—Regional

Comerica is the highest-yielding stock on our list of cheap dividend-growth stocks to buy. Comerica is largely a commercial-focused bank, with more than 90% of loans related to commercial lending, reports  analyst Rajiv Bhatia. Fourth-quarter results were decent on the surface, but we forecast profitability to worsen over the short term as net interest income continues to decline and expenses trend higher; we expect the pattern to flatten in 2024. We still expect the bank to remain profitable and to easily cover its dividend, says Bhatia. We currently assign a $73 fair value estimate to this dividend-growth stock; it’s trading 32% below that.

Eastman Chemical

• Price/Fair Value: 0.70
•  Economic Moat Rating: Narrow
• Forward Yield: 3.72%
•  Capital Allocation Rating: Standard
• Industry: Specialty Chemicals

Eastman Chemical stock is about 30% undervalued relative to our $125 fair value estimate. The global specialty chemicals company generates most of its sales outside of the US. Although Eastman reported companywide volume declines year over year during the latest quarter, we expect 2024 will show a gradual recovery, says ’s Goldstein. The company generates strong cash flows and should therefore have no trouble meeting its dividend, he adds. Notably, management’s compensation is tied to return on capital and return to stockholders.

Humana

• Price/Fair Value: 0.70
•  Economic Moat Rating: Narrow
• Forward Yield: 1.01%
•  Capital Allocation Rating: Standard
• Industry: Healthcare Plan

The final new name on our list of cheap dividend-growth stocks to buy—and the final name on the list altogether—is Humana. Humana stock is trading 30% below our fair value estimate. Management’s outlook for 2024 and 2025 came out weaker than we expected, particularly the company’s core end market of Medicare Advantage, admits ’s Utterback. The firm nevertheless maintains a strong franchise and remains at the forefront of one of the fastest-growing areas in US medical insurance. She calls the company’s dividend rate “modest” and notes that the dividend should be maintained despite weakness in near-term profit prospects. We think this dividend-growth stock is worth $500 per share.

Dividend-Growth Stocks and Economic Moats

 thinks that companies with economic moats have significant advantages that allow them to successfully fend off competitors for decades. Such high-quality companies can carve out their moats in a variety of different ways—by having high switching costs, through strong brand identities, or by possessing economies of scale, to name just a few.

Companies that we think can maintain their competitive advantages for at least 10 years earn narrow moat ratings; those we think can successfully compete for 20 years or longer earn wide moat ratings.

Of course, companies that do not have economic moats can exhibit dividend growth. But for purposes of this article, we included only stocks that have narrow or wide moat ratings, choosing to place our bets with high-quality companies.

Cheap Dividend-Growth Stocks: More Ideas to Consider

Investors who would like to find more undervalued dividend-growth stocks to research further can do the following:

• Review the full list of stocks included in the  US Dividend Growth Index. Those dividend stocks with  Ratings of 4- or 5-stars are undervalued according to our metrics.
• Peek into the portfolios of some of the best dividend-growth-stock managers for new ideas. Some highly rated funds focused on dividend-growth stocks include Vanguard Dividend Growth VDIGX and T. Rowe Price Dividend Growth PRDGX.
• Use  Investor to build a watchlist of dividend growth stocks and create a view that allows you to easily follow the valuations, ratings, and dividend yields of the stocks on your list.

The 5 Best Stocks 2024

 Buying stocks can be straightforward, but identifying the right ones without a solid strategy is challenging. Wondering which stocks to buy or add to your watchlist? Consider Microsoft (MSFT), Ares Management (ARES), Dexcom (DXCM), Square's parent company Block (SQ), and Shockwave Medical (SWAV) as top contenders.

Inflation concerns and aggressive Federal Reserve rate tightening unsettled investors last year. However, the market defied expectations and delivered impressive results in 2023. While 2024 forecasts suggest more moderate gains, there's growing confidence in the Fed's ability to achieve a soft landing.

Key Ingredients for Selecting the Best Stocks

With thousands of stocks traded on the NYSE and Nasdaq, pinpointing the best ones is crucial for significant gains. The CAN SLIM system provides clear guidelines for identifying potential winners. Focus on stocks with recent quarterly and annual earnings growth of at least 25%. Look for companies introducing innovative products or services, including newly public companies showing substantial revenue growth.

CAN SLIM consistently outperforms the S&P 500, emphasizing the importance of surpassing industry benchmarks for exceptional long-term returns. Additionally, monitor stock supply and demand, prioritize leading stocks in top industry groups, and seek stocks with robust institutional support.

After identifying suitable stocks, analyze stock charts to determine optimal entry points. Wait for stocks to form a base and buy once they reach a buy point, preferably with heavy volume. Keep a close eye on market trends, and invest during confirmed uptrends while moving to cash during corrections.

Top Stocks to Watch and Buy

Amid a confirmed uptrend in the stock market, investing in high-quality stocks is advisable. The following selections represent some of the best stocks to consider:

• Microsoft
• Ares Management
• Dexcom
• Block
• Shockwave Medical

These stocks exhibit impressive relative strength and warrant closer examination.

Microsoft Stock Analysis

Microsoft has demonstrated notable performance, rebounding from the 10-week moving average and achieving a short consolidation. Key indicators, such as EPS growth and institutional interest, signal strong potential for continued success.

Ares Management Stock Analysis

Ares Management shows promising signs with a flat base formation and robust earnings performance. Despite industry challenges, the firm's diversified portfolio and substantial assets under management position it for continued growth.

Dexcom Stock Analysis

Dexcom's innovative glucose monitoring systems and solid financial performance make it a compelling investment option. The company's expansion into new markets and recent product approvals further enhance its growth prospects.

Block Stock Analysis

Block's success in digital payments and strategic acquisitions, such as Afterpay, underscores its growth trajectory. Strong earnings and revenue growth projections support its bullish outlook.

Shockwave Medical Stock Analysis

Despite recent setbacks, Shockwave Medical's pioneering technology and rebounding performance indicate potential for recovery. With favorable reimbursement trends and growing institutional interest, the company is poised for future growth.

Market Outlook and Conclusion

As the stock market continues its upward trajectory, investors should remain vigilant for potential sell signals. Implementing disciplined risk management practices, such as adhering to predetermined stop-loss levels, is essential to mitigate losses and protect gains.

While the current market environment appears favorable, external factors such as inflation and geopolitical tensions can introduce volatility. Stay informed and adapt investment strategies accordingly to navigate market uncertainties effectively.

In summary, by focusing on high-quality stocks with strong fundamentals and adhering to proven investment principles, investors can capitalize on market opportunities and achieve long-term financial success.