Jim Cramer and Billionaire Ray Dalio Are Betting on These 5 Stocks

2. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 146    

Mastercard Incorporated (NYSE:MA) is a technology company that provides transaction processing and other payment-related products and services. On November 28, Mastercard said that Mastercard, Block’s Square unit, and Equifax are among a group of 40 companies that have teamed up to form the lobbying group FinTechs Canada. Latest data shows that Dalio owned more than 577,000 shares in the company at the end of the third quarter of 2022 worth $164 million. Cramer has outlined that he prefers the stock for its growth trends over other payment names. 

On November 29, Redburn analyst Fahed Kunwar initiated coverage of Mastercard Incorporated (NYSE:MA) stock with a Neutral rating, highlighting that the brand power of debit is fading as digital wallets grow.

At the end of the third quarter of 2022, 146 hedge funds in the database of Insider Monkey held stakes worth $13.9 billion in Mastercard Incorporated (NYSE:MA), compared to 137 in the previous quarter worth $14.99 billion.

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Mastercard Incorporated (NYSE:MA) was one of them. Here is what the fund said:

“The Fund’s holdings in the Payments and Information Services themes also contributed to relative performance. Within Payments, lower exposure to this lagging theme and outperformance of Mastercard Incorporated (NYSE:MA) added the most value. These global payment networks are viewed as safe havens during market downturns but are also benefiting from resilient payment volumes and a sharp rebound in international travel.”