‘Greedy When Others are Fearful’: Warren Buffett’s 4 New Stock Picks in 2022

1. Ally Financial Inc. (NYSE:ALLY)

Number of Hedge Fund Holders: 48 

Ally Financial Inc. (NYSE:ALLY) is a digital financial services firm. The company posted earnings for the first quarter of 2022 on April 14, reporting earnings per share of $2.03, beating expectations by $0.12. The revenue over the period was $2.1 billion, up over 10% year-on-year and beating expectations by $10 million. Buffett opened a new position in the stock during the first quarter of 2022. This stake comprises close to 9 million shares worth $389 million, representing 0.1% of the portfolio. 

On April 18, Wells Fargo analyst Donald Fandetti maintained an Overweight rating on Ally Financial Inc. (NYSE:ALLY) stock and lowered the price target to $50 from $57, noting that the firm was poised to exceed high end of guidance numbers in the coming months. 

Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Harris Associates is a leading shareholder in Ally Financial Inc. (NYSE:ALLY), with 26 million shares worth more than $1.1 billion. 

At the end of the fourth quarter of 2021, 48 hedge funds in the database of Insider Monkey held stakes worth $2.3 billion in Ally Financial Inc. (NYSE:ALLY), compared to 57 in the preceding quarter worth $2.5 billion. 

You can also take a peek at 10 Best Stocks for Animal Lovers and 10 Best Nickel Stocks to Buy Now.

Follow Insider Monkey on Twitter