5 Stocks to Sell Now According to Ray Dalio

4. Accenture plc (NYSE:ACN)

Number of Hedge Fund Holders: 61

Accenture plc (NYSE:ACN) is an Irish-American information technology and consulting company. At the end of Q1 2022, the company had a 0.28% concentration in Bridgewater Associates’ portfolio, with 211,086 shares worth $71.18 million. However, the firm sold its stake in the June quarter.

As of August 23, Accenture plc (NYSE:ACN) has a dividend yield of 1.23%, with an annualized dividend payout of $3.88. The most recent quarterly dividend was $0.97 per share, paid to shareholders on August 15.

On August 9, Baird analyst David Koning maintained a Neutral rating on Accenture plc (NYSE:ACN) and raised his price target to $338 from $310. The analyst believes that its recent acquisition of Romp could increase its annualized revenue and views its risk/reward as decent, owing to solid growth, high-quality earnings, and a clean balance sheet.

Here is what Polen Capital had to say about Accenture plc (NYSE:ACN) in its Q1 2022 investor letter:

“Accenture’s business is firing on all cylinders and continue to enjoy an acceleration in their respective fundamentals because of the increase in digitization around the world. Nearly every company today is searching for ways to become more digital, and Accenture is positioned to provide many of the solutions these companies seek. This inflection in fundamentals was not lost on the market, and each business’s stock performed exceptionally well in 2021. In fact, they represented two of the three top absolute performers for the Global Growth Portfolio last year. As a result, its stock is currently more fully priced. As such, we lowered Accenture to an average weight. We maintain high conviction in the business and plan to own it for many years, but recognize the increase in their prices.”