5 Blue Chip Stocks To Buy Now According To Billionaire Andreas Halvorsen

4. Mastercard Incorporated (NYSE:MA)

Viking Global Investor’s Stake Value: $726,331,000

Percentage of Viking Global Investor’s Portfolio: 3.32%

Number of hedge fund holders: 137

Mastercard Incorporated (NYSE:MA) processed about $6 trillion in purchasing transactions in 2021, making it the world’s second-largest payment processor. Mastercard is accepted in over 200 countries and processes transactions in over 150 currencies. During Q2 2022, Viking Global boosted its stake in the company by 29%. The fund’s total stake in the company amounted to roughly $726 million, which represented 3.32% of its 13F portfolio.

In August, James Fotheringham, an analyst at BMO Capital raised the firm’s price target on Mastercard Incorporated (NYSE:MA) to $422 from $402 and maintains an outperform rating on the stock. According to the analyst, the company’s Q2 earnings benefited from higher exposure to cross-border travel recovery and credit while consumer spending remained strong.

At the end of Q2 2022, 137 hedge funds tracked by Insider Monkey owned stakes in Mastercard Incorporated (NYSE:MA). Akre Capital Management was the stock’s leading stakeholder in Q2, owning Mastercard Incorporated (NYSE:MA) shares worth over $1.8 billion. The fund’s position in the stock increased by 1% from Q1 2022.