Do you want an investment you can invest in and forget about, regardless of that is going on with the market? You do not have to only settle for boring dividend stocks that suit that goal. There are many good growth stocks that are not just safe but also very likely to keep going up in value over many years as their financials get better. And some even give dividends as well.

Two stocks to add to your list if you are a buy-and-holder are Abbott Laboratories and Palantir Technologies. These companies have been producing strong results that make them good for long-term investments.

1. Abbott Laboratories

Abbott Laboratories is a strong healthcare company that is a good set-and-forget investment. While COVID-19 testing has helped its top line grow, the company is also diverse. That is one of the main reasons you can keep the stock safely for years or maybe even decades.

When Abbott last announced earnings on July 22, its sales for the time ending on June 30 was over $10.2 billion, up almost 40% year over year. A lot of that growth came from its diagnostics sector, where sales of $3.3 billion went up by an impressive 63%. However, the company’s medical device revenue was up at $3.7 billion, which is higher by 51%. The company allows investors to have the best of both worlds — its stock is helped by an uptick in COVID-19 testing and from a return to normal (as shown by the increase in medical device sales).

2. Palantir

Tech company Palantir is yet another company that has the makings of a great long-term investment. Not only is it growing at a huge rate, but the firm also has many government clients that use its software platform in counterterrorism operations, anchoring its numbers. One of the firm’s opportunities for longer-term growth is increasing its commercial customers. Palantir is doing this, though government-connected revenue is still over 60% of its top line.

Although the firm has continually showed net losses since their IPO a year ago, its adjusted earnings before interest, depreciation, taxes, and amortization in the second quarter was over $121 million, making up 32% of the company’s revenue. And in the trailing 12 months, the company has reported positive free cash flow numbered at $62 million.

Author: Steven Sinclaire

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