Investing in the stock market is a big step toward building long-term wealth. The secret is simple: Adopt a patient, disciplined approach to saving regularly and focus on high-quality companies that you can hold on to for the long haul.

That said, not all stocks are created equal. On one hand, you have those intriguing early stage moonshots that promise high rewards but come with a slew of risks and uncertainty. On the other hand, there are the tried-and-true stalwarts, often referred to as blue-chip stocks, that boast stable business models and a track record of success.

If you have $1,000 you're looking to put to work, here are three quality stocks you should consider adding to your portfolio today.

Alphabet

Alphabet (GOOGL -2.07%) (GOOG -1.99%) is a titan in the technology sector. Not only is it a powerhouse in online search, processing 5 trillion queries annually, it also boasts over 2 billion users across its various platforms, including Android, YouTube, Gmail, and the Play Store.

The search division is a cash cow, generating $104.9 billion in the first half of this year alone while growing 11%. While there have been some concerns about ChatGPT and other large language models eating into Google's search business, the company is adapting with its own models. AI Overviews powered by Gemini are already driving an extra 10% in global queries for relevant searches.

Google Cloud is enjoying robust customer demand, bolstered by Alphabet's AI-related services. Deals exceeding $250 million have doubled year over year, and the influx of new Google Cloud Platform customers has surged by almost 28% sequentially.

With over $100 billion in cash reserves, Alphabet is positioned to return capital and invest in future growth, making it an attractive technology stock in today's pricey market.

Visa

Visa (V -1.00%) dominates the payments landscape, thanks to its massive payment network. In 2023, the company processed over $15 trillion in transactions. This is 67% higher than Mastercard and 8 times larger than American Express, showing Visa's significant market share.

Visa's strength stems from its robust network effects, which result from the payment network it has spent decades building. Its vast network includes hundreds of merchants and banking partners, serving millions of customers worldwide. As more users or merchants join the Visa network, the stronger it becomes.

The company doesn't take on credit risk by holding on to credit card loans or any other loans. Instead, Visa facilitates payments on its network and generates a steady stream of revenue from transaction processing fees. This helps reduce risks during economic downturns, when consumers may struggle to pay off credit cards or other forms of debt.

Its low operational expenses and competitive moat help Visa generate stellar profit margins and produce solid returns for investors, making it another excellent stock for investors to consider scooping up today.

Berkshire Hathaway

Berkshire Hathaway (BRK.A -1.36%) (BRK.B -1.42%) is best known for its CEO, legendary investor Warren Buffett. Over several decades, Buffett and his longtime business partner, the late Charlie Munger, built Berkshire Hathaway into a massive conglomerate with businesses spanning multiple industries.

The company's wholly owned subsidiaries encompass a diverse range of industries, including energy, railroads, consumer goods, building supplies, and others. This diversified strategy gives investors exposure to businesses across the economy.

Currently flush with over $334 billion in cash and short-term investments, Berkshire is positioned to capitalize on opportunities that may arise amid market volatility.

Investors may be concerned about Buffett's retirement at the end of this year. I think any concerns may be overblown, considering Berkshire's diversity. Additionally, Buffett and Munger hand-picked investment lieutenants, Todd Combs and Ted Weschler, who have been instrumental in some of Berkshire's most successful investments over the last decade.

For investors seeking a diversified powerhouse with a strong cash position, Berkshire Hathaway stands out as a compelling investment option.