In this article, we discuss the 5 best stocks to buy for the rest of 2021. If you want to read our detailed analysis of the stock market, go directly to read the 11 Best Stocks To Buy For The Rest of 2021.
5. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 86
NVIDIA Corporation (NASDAQ:NVDA) is an American technology company that designs and manufactures computer graphics processors, chipsets, and other multimedia software. NVIDIA Corporation (NASDAQ:NVDA) made it to our list of the best stocks to buy for the rest of 2021, as the company reports its strong gaming business amid the rise of the iGaming sector around the world.
Of the 873 hedge funds tracked by Insider Monkey, 86 hedge funds have positions in NVIDIA Corporation (NASDAQ:NVDA) in Q2, compared with 80 in the previous quarter. These stakes are valued at over $9.09 billion. Aubrey Capital Management is the company’s largest shareholder, with shares worth $11.2 billion.
Harding Loevner mentioned NVIDIA Corporation (NASDAQ:NVDA) in its second-quarter investor letter. Here is what the firm has to say:
“Within IT, shares of US-based computer chip developer NVIDIA continued their climb as rising demand across segments-from work-from-home laptops to data centers to cryptocurrency mining rigs-led to shortages that translated into surging prices for its chips. Such was the windfall that NVIDIA even made technical changes to some of its products to make them towards waht it believes are more sustainable uses. Less attractive to cryptocurrency miners, to steer scarce supply viewed by geography, the lion’s share of excess returns came from good stock performance in the US. In addition to the contributions from NVIDIA and our health care holdings, a pair of IT software and service providers also aided relative returns.”
4. Thermo Fisher Scientific Inc. (NYSE:TMO)
Number of Hedge Fund Holders: 87
Thermo Fisher Scientific Inc. (NYSE:TMO) is an American company that provides scientific instruments and consumables to its consumers and also provides services in laboratories and clinics. The company has headquarters in Massachusetts, U.S. With 5 years of consistent dividend growth, Thermo Fisher Scientific Inc. (NYSE:TMO) remains one of the best stocks to buy for the rest of 2021.
Recently, Goldman Sachs upgraded Thermo Fisher Scientific Inc. (NYSE:TMO) to ‘Conviction Buy’, while its price target to $690. The firm’s analyst Matthew Sykes noted the company’s growth in key markets and believes that it can hit single-digit growth in the coming quarters.
In Q3 2021, Thermo Fisher Scientific Inc. (NYSE:TMO) posted an EPS of $5.76, beating the estimates by $1.06. Due to the strong results, the company lifted its FY21 revenue guidance by $300 million to $35.9 billion, versus the estimates of $35.65 billion.
As of Q2 2021, 87 hedge funds tracked by Insider Monkey have positions in Thermo Fisher Scientific Inc. (NYSE:TMO), up from 79 in the previous quarter. The total value of these stakes is over $7.39 billion.
ClearBridge Investments released its second-quarter 2021 investor letter and mentioned Thermo Fisher Scientific Inc. (NYSE:TMO) in it. Here is what the firm has to say:
“Two additional names in the health care sector in the quarter, partially funded with a sale, made strong contributions and helped push our relative exposure to the sector from underweight to overweight. We added Thermo Fisher Scientific to increase our exposure to health care tools, which has been an attractive and core segment within health care. Thermo Fisher’s instruments are used to monitor and protect air, water, and food quality, and the company has strong long-term fundamentals, a top-tier management team and a diversified business.”
3. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 238
Microsoft Corporation (NASDAQ:MSFT) has a track record of 12 years of consistent dividend growth and pays an annual dividend of $2.24 per share, yielding 0.67%.
On September 28, Microsoft Corporation (NASDAQ:MSFT) announced the opening of its own Windows store to the third-party app storefronts, integrating Amazon and Epic Games Store in Microsoft Store. In fiscal Q4 2021, Microsoft Corporation (NASDAQ:MSFT) reported revenue of $46.2 billion, presenting a 21.5% year-over-year growth.
In September, Barclays lifted its price target on Microsoft Corporation (NASDAQ:MSFT) to $345 and kept an ‘Overweight’ rating on the shares.
As of Q2 2021, 238 hedge funds tracked by Insider Monkey have positions in Microsoft Corporation (NASDAQ:MSFT), valued at $6.24 billion. The number of hedge funds having stakes in the company stood at 251 in the previous quarter. Crake Asset Management is the company’s leading shareholder, with shares worth over $109 billion.
Baron Opportunity Fund mentioned Microsoft Corporation (NASDAQ:MSFT) in its second-quarter 2021 investor letter. Here is what the firm has to say:
“Shares of Microsoft Corporation, a cloud-software leader and provider of software productivity tools and infrastructure, rose during the quarter following a strong earnings report highlighting solid demand for its broad product stack and continued momentum migrating its business to the cloud. Microsoft was a top contributor in the period because it trades at reasonable free cash flow and earnings valuations, has cloud and digital transformation tailwinds at its back, reported a solid March quarter, and beat Street expectations by a wide margin. Microsoft’s results continued to be strong across the board, with Azure cloud computing revenues up 46% in constantcurrency (“cc”) terms and commercial cloud bookings growth of 38% cc, the best in years. Microsoft also reported robust profitability growth, with operating income expanding 31% and GAAP earnings up 45%. We believe the company is well positioned for continued solid growth and profitability through market share gains as more companies look to transform and digitize their businesses as they move operations to the cloud.”
2. Facebook, Inc. (NASDAQ:FB)
Number of Hedge Fund Holders: 266
Facebook, Inc. (NASDAQ:FB), now Meta Platforms, remains one of the most notable long-term stocks to buy on the back of several growth catalysts.
Recently, Facebook, Inc. (NASDAQ:FB) introduced a virtual reality service, called Horizon Workrooms and is used through Facebook’s Oculus VR headset. With the rise in virtual reality, Facebook, Inc. (NASDAQ:FB) remains one of the best stocks to buy for the rest of 2021.
Recently, RBC Capital initiated its coverage on Facebook, Inc. (NASDAQ:FB) with an ‘Outperform’ rating and a $425 price target. Since the beginning of the year, Facebook, Inc. (NASDAQ:FB) delivered a 25% return to shareholders.
As of Q2 2021, 266 hedge funds tracked by Insider Monkey have positions in Facebook, Inc. (NASDAQ:FB), valued at $42.3 billion. In the previous quarter, the number of hedge funds having stakes in the company stood at 257.
First Eagle Investment Management mentioned Facebook, Inc. (NASDAQ:FB) in its second-quarter 2021 investor letter. Here is what the firm has to say:
“Leading contributors in the First Eagle Global Fund this quarter included Facebook, Inc. Class A. Facebook has continued to post impressive results for both revenue and active users of its traditional platforms. In the meantime, the social media giant continues to make progress on new initiatives—like Facebook Horizon (virtual reality) and Facebook Shops (e-commerce)—and maintains attractive monetization optionality around services like Messenger and WhatsApp.”
1. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 271
Amazon.com, Inc. (NASDAQ:AMZN) is an American multinational e-commerce company that also focuses on cloud computing, artificial intelligence, and digital streaming. Amazon.com, Inc. (NASDAQ:AMZN) is one of the biggest companies in the U.S. information technology industry.
Recently, RBC Capital initiated its coverage on Amazon.com, Inc. (NASDAQ:AMZN) with an ‘Outperform’ rating and a $4,150 price target, highlighting the company’s importance in the cloud business. Since the beginning of the year, Amazon.com, Inc. (NASDAQ:AMZN) delivered a 15% return to shareholders.
Of the 873 hedge funds tracked by Insider Monkey, 271 hedge funds have stakes in Amazon.com, Inc. (NASDAQ:AMZN) in Q2, worth over $60.4 billion. The number of hedge funds having stakes in the company stood at 243 in the previous quarter, highlighting a positive hedge fund sentiment in Q2.
You can also take a look at 10 Best Stocks to Buy With 50+ Years of Dividend Increases and What are the Best Stocks to Buy Right Now?
