This article presents an overview of Jim Cramer is Bullish on These 5 Stocks. For a detailed overview of such stocks, read our article Jim Cramer is Bullish on These 10 Stocks.
5. IBM Common Stock (NYSE:IBM)
Number of Hedge Fund Investors: 53
Earlier this month, Jim Cramer said that IBM Common Stock (NYSE:IBM) has proved that it’s an “AI winner” after IBM Common Stock (NYSE:IBM) posted strong fourth quarter results and upbeat guidance. IBM Common Stock’s (NYSE:IBM) adjusted EPS in the quarter came in at $3.87, beating estimates by $0.07. Revenue in the period jumped 4.1% year over year to $17.38 billion, beating estimates by $100 million.
For the full-year 2024 IBM Common Stock (NYSE:IBM) expects $12 billion in free cash flow.
4. BlackRock Inc (NYSE:BLK)
Number of Hedge Fund Investors: 54
Jim Cramer was recently asked about this thoughts on BlackRock Inc (NYSE:BLK). Cramer’s stance on the stock is resoundingly bullish:
“I think you buy it. Period. End of story.”
Cramer said that BlackRock Inc (NYSE:BLK) stock “should go much higher.”
Insider Monkey’s database of 910 hedge funds shows that 54 hedge funds had stakes in BlackRock Inc (NYSE:BLK) as of the end of the third quarter of 2023, down from 57 hedge funds a quarter earlier.
In its fourth quarter 2023 investor letter, Oakmark Fund stated the following regarding BlackRock, Inc. (NYSE:BLK):
“We purchased shares in BlackRock, Inc. (NYSE:BLK), the largest asset manager in the investment industry, when its stock sold off on fears that higher interest rates would hurt global economic activity. BlackRock’s ETF business, iShares, outgrows competitors due to its strong brand and breadth of product offerings. BlackRock’s active management business also outgrows most other managers due to its dominance in fixed income and leadership in multi-asset, sustainable investing and alternative assets. We expect BlackRock’s total revenue to grow in the high-single digits and earnings per share to grow faster than revenue. We were pleased to add this above-market grower at a below-market multiple of earnings.”
3. Boeing Co (NYSE:BA)
Number of Hedge Fund Investors: 64
Boeing Co (NYSE:BA) has been going through a disaster these days after a part of its 737 Max blew off during an Alaska Airlines flight. The stock has lost about 18% over the past 30 days. But Jim Cramer has been highly bullish on the stock and it appears there has been no change in Cramer’s core thesis about Boeing Co (NYSE:BA).
Here is what Cramer had said about Boeing Co (NYSE:BA) in November last year:
“Ok, Boeing’s going higher. I think that this is their year. Last year, they had supply chain problems and a couple snafus with some planes. Now it seems to be clearer sailing…Buy the stock of Boeing.”
Just a day before the Alaska Airlines incident, Jim Cramer was talking about Boeing Co (NYSE:BA) shares on a CNBC program where he said Boeing Co (NYSE:BA) stock was a Buy on a pullback.
2. Charles Schwab Corporation Common Stock (NYSE:SCHW)
Number of Hedge Fund Investors: 77
In a latest program, Jim Cramer received a call asking him about his thoughts on Robinhood. Cramer recommended against buying the stock since he believes Robinhood has a lot of exposure to options traders and Bitcoin traders. Cramer instead recommended the caller to buy Charles Schwab Corporation Common Stock (NYSE:SCHW).
“I suggest you go buy Schwab.”
Insider Monkey’s database of 910 hedge funds shows that 77 hedge funds had stakes in Charles Schwab Corporation Common Stock (NYSE:SCHW) as of the end of the third quarter. The most notable hedge fund stakeholder of Charles Schwab Corporation Common Stock (NYSE:SCHW) during this period was Natixis Global Asset Management’s Harris Associates which owns a $1 billion stake in Charles Schwab Corporation Common Stock (NYSE:SCHW).
1. ServiceNow Inc (NYSE:NOW)
Number Of Hedge Fund Investors: 99
In December 2023, Jim Cramer said that ” a lot of people” feel that ServiceNow Inc (NYSE:NOW) has become the “barometer” of the broader AI industry when it comes to stock gains as the analyst believes ServiceNow Inc (NYSE:NOW) has done an “amazing job.” Cramer at the time said that Nvidia was too controversial while ServiceNow Inc (NYSE:NOW) was not controversial. Earlier this month, Jim Cramer tweeted about ServiceNow Inc (NYSE:NOW) which shows he’s still highly bullish on ServiceNow Inc (NYSE:NOW).
“Loving ServiceNow into the q because, among other things, it’s close to NVDA—Melius.”
As of the end of the third quarter of 2023, 99 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in ServiceNow Inc (NYSE:NOW). The biggest stakeholder of ServiceNow Inc (NYSE:NOW) during this period was Rajiv Jain’s GQG Partners which owns an $832 million stake in ServiceNow Inc (NYSE:NOW).
Polen Focus Growth Strategy stated the following regarding ServiceNow, Inc. (NYSE:NOW) in its fourth quarter 2023 investor letter:
“ServiceNow, Inc. (NYSE:NOW) continues to grow revenue and earnings at above a 20% rate, as they have for many years. The company has a software automation platform that efficiently builds applications on top of and across many enterprise functions. The NOW platform can automate almost any workflow previously done through email, spreadsheets, or some other less-than-efficient method. Its addressable market is very large because of the sheer breadth and depth of the tasks that can be automated by using its software. ServiceNow’s offerings tend to save customers money and make their workflows less prone to error. The company’s growth has been among the most consistent in our Portfolio prior to, during, and after the pandemic.”
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