Jim Cramer Stock Portfolio: 5 Recent Additions

In this article, we discuss 5 recent additions to Jim Cramer stock portfolio. If you want to see more stocks in this selection, check out Jim Cramer Stock Portfolio: 10 Recent Additions. 

5. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holders: 117

Salesforce, Inc. (NYSE:CRM), an American customer relationship management company, is one of the recent additions to Jim Cramer’s stock portfolio. On November 22, Jim Cramer listed a handful of beaten down tech stocks that he thinks can make a comeback after the Fed eases up on economic tightening. Salesforce, Inc. (NYSE:CRM) was one of these tech stocks backed by Cramer. Cramer’s Charitable Trust owns a stake in Salesforce. 

On November 29, KeyBanc analyst Michael Turits maintained an Overweight rating on Salesforce, Inc. (NYSE:CRM) but trimmed the price target on the shares to $200 from $210 ahead of Q3 results. The analyst also slashed fiscal 2024 estimates. He remains optimistic about the long-term outlook for Salesforce, Inc. (NYSE:CRM) as a front office applications leader, and was encouraged by the company’s fiscal 2026 $50 billion revenue, 25% margin analyst day targets, and by the impact of activist investor Starboard on margins.

According to Insider Monkey’s data, 117 hedge funds were bullish on Salesforce, Inc. (NYSE:CRM) at the end of the third quarter of 2022, compared to 116 funds in the prior quarter. Ken Fisher’s Fisher Asset Management held the largest stake in the company, comprising 12.7 million shares worth $1.8 billion. 

Aristotle Atlantic made the following comment about Salesforce, Inc. (NYSE:CRM) in its Q3 2022 investor letter:

“We sold Salesforce, Inc. (NYSE:CRM) to reduce our weighting in the Information Technology sector. Salesforce held their investor day, and the company reiterated their organic Fiscal Year 2026 revenue target of $50 billion. This target remains more back-end loaded based on current slowing macroeconomic conditions and requires new annual contract growth well ahead of what the company has been averaging for the past few years. We are skeptical that the company will be able to achieve this revenue target organically and see Merger & Acquisitions (M&A) being key to achieving the growth. While we believe Salesforce has shown good success in growing its non-CRM clouds, we do see more competitive pressures emerging for the Marketing and Customer Service Clouds, specifically on the pricing side during a global economic slowdown.”

4. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 140

Apple Inc. (NASDAQ:AAPL) is one of the stocks in Cramer’s Charitable Trust portfolio. He said on November 22:

“Once the Fed relents, I’d much rather be in Big Tech.”

Apple was one of Cramer’s top choices recently. 

On November 28, Wedbush analyst Daniel Ives said that with the “head scratching” zero COVID policy in China now reaching a peak and protests across the country, Apple Inc. (NASDAQ:AAPL) is basically caught in the middle heading into the all-important Christmas season. He estimates that Apple Inc. (NASDAQ:AAPL) now has huge iPhone shortages that could take off nearly 5% of units in the quarter and potentially up to 10% depending on the next few weeks in China around Foxconn production and protests. In many Apple Inc. (NASDAQ:AAPL) stores, the analyst is seeing large iPhone 14 Pro shortages of up to 35%-40% of normal inventory heading into December, with digital channels pushing deliveries into early January in many cases based on model/storage/color. The analyst has an Outperform rating and a price target of $200 on Apple shares.

According to Insider Monkey’s data, 140 hedge funds were bullish on Apple Inc. (NASDAQ:AAPL) at the end of Q3 2022, compared to 128 funds in the prior quarter. Warren Buffett’s Berkshire Hathaway is the biggest stakeholder of the company, with nearly 895 million shares worth $123.6 billion. 

Here is what Wedgewood Partners specifically said about Apple Inc. (NASDAQ:AAPL) in its Q3 2022 investor letter:

“Apple Inc. (NASDAQ:AAPL) grew revenues +5% (foreign exchange adjusted and excluding Russia) driven by record iPhone revenues that were up about +3% on an exceptional year ago comparison of +50%. Apple’s installed base is over 1.8 billion devices which helps drive a software and services business that has generated almost $80 billion of revenue over the past 4 quarters. As we have highlighted in the past, Apple’s relentless focus on the development and integration between hardware (especially ICs) as well as software, continues to add significant value for customers of its products and services. We expect this favorable competitive dynamic to continue for the foreseeable future.”

3. Uber Technologies, Inc. (NYSE:UBER)

Number of Hedge Fund Holders: 142

Uber Technologies, Inc. (NYSE:UBER) is an American mobility technology company. On November 16, Cramer said on a Mad Money Lightning Round:

“Uber is a stock that you have to own for a while … It’s going to be the last man standing, and that’s why I like Uber.” 

On October 24, Cowen analyst John Blackledge maintained an Outperform rating on Uber Technologies, Inc. (NYSE:UBER) but lowered the price target on the shares to $70 from $76. The analyst expects Uber Technologies, Inc. (NYSE:UBER)’s Q3 2022 Gross Bookings at the high end of the guide, supported by the continuous recovery in Mobility and expansion of core EBITDA margins.

Among the hedge funds tracked by Insider Monkey, 142 funds reported owning stakes worth $6.2 billion in Uber Technologies, Inc. (NYSE:UBER) at the end of September 2022, compared to 129 funds in the last quarter worth $5.2 billion. Philippe Laffont’s Coatue Management is a significant position holder in the company, with 16.6 million shares valued at $440.6 million.  

Artisan Partners made the following comment about Uber Technologies, Inc. (NYSE:UBER) in its Q3 2022 investor letter:

“During the quarter, we began new GardenSM campaigns in Uber Technologies, Inc. (NYSE:UBER) and Shopify. In July, we initiated our position in Uber, a leader in global ride-hailing and online food delivery. We believe the company is well positioned to benefit from strong secular tailwinds in both of its core businesses. Earlier this year, management outlined a plan at its investor day to achieve $4 billion of free cash flow by 2024, an encouraging commitment given investors have maligned the company for years of being unprofitable. We witnessed solid progress toward achieving this goal in the company’s most recent earnings results, where it beat expectations for the quarter on both fronts and delivered positive FCF for the first time. The company also indicated it isn’t seeing any evidence of slowing demand. We recognize the execution risk associated with Uber achieving its long-term targets, and the path likely won’t be linear, which is why we are keeping our position size modest until we see signs of continued operational momentum in the coming quarters.”

2. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 269

Amazon.com, Inc. (NASDAQ:AMZN) is one of the Big Tech names backed by Jim Cramer, and Cramer’s Charitable Trust also owns a stake in the company. On November 29, Amazon.com, Inc. (NASDAQ:AMZN) announced several updates at its annual AWS cloud computing conference, including new data and security services, new AWS-designed chips, and more. Some of its latest offerings include AWS Clean Rooms, AWS Supply Chain, AWS SimSpace Weaver, Amazon Security Lake, and Amazon DataZone. 

On November 22, Piper Sandler analyst Thomas Champion maintained an Overweight rating on Amazon.com, Inc. (NASDAQ:AMZN) but lowered the price target on the shares to $119 from $125. The analyst assessed the company’s Q3 results with a focus on Web Services. The analyst noted that AWS retains industry dominant infrastructure-as-a-service market share of 50% among the “Big-4” providers. The  analyst trimmed estimates to factor in industry headwinds but remains bullish on Amazon.com, Inc. (NASDAQ:AMZN) shares.

According to Insider Monkey’s data, 269 hedge funds were bullish on Amazon.com, Inc. (NASDAQ:AMZN) at the end of Q3 2022, compared to 252 funds in the prior quarter. Fisher Asset Management held a leading position in the company, consisting of nearly 50 million shares worth $5.6 billion. 

Baron Funds made the following comment about Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2022 investor letter:

“Amazon.com, Inc. (NASDAQ:AMZN) is the world’s largest e-commerce retailer and cloud services provider. Shares of Amazon increased 6% in the quarter after the company reported strong results with 7% year-over-year revenue growth driven by 33% growth in Amazon Web Services (AWS), Amazon’s leading cloud computing service, while guiding for an acceleration in third quarter revenue growth, which is expected to be between 13% and 17% year-over-year. Amazon’s share of e-commerce is roughly 40%, far ahead of competition, yet domestic e-commerce accounted for only 14.5% of total retail sales (according to U.S. Census Bureau data for the second quarter of 2022), implying durable growth opportunities ahead. Internationally, the opportunity remains large as Amazon still has less than a 2% market share of international retail spending. Its advertising share is also only 3% and growing, underpinned by the structural closed-loop systems it enables (merchants know exactly whether their ad dollars resulted in a purchase since they are all done on the Amazon platform), which enables accurate targeting and measurement. Lastly, AWS has a good runway for growth as the industry still represents only 9.5% out of the $4.3 trillion of global IT spending according to Gartner. Areas such as logistics and health care present additional optionality.”

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 269

Microsoft Corporation (NASDAQ:MSFT) is part of Cramer’s Charitable Trust portfolio and the Mad Money host believes that it is one of the hammered tech stocks that can rebound after the Federal Reserve finishes tightening the economy. On November 30, Microsoft Corporation (NASDAQ:MSFT) declared a quarterly dividend of $0.68 per share, in line with previous. The dividend is payable on March 9, 2023 to shareholders of record on February 16. 

On November 29, Morgan Stanley analyst Keith Weiss said investors are concerned that Microsoft Corporation (NASDAQ:MSFT)’s estimates have not been derisked and noted that short-term concerns normally fall into two categories – margins and revenue growth. However, he sees a resilient demand signal in the commercial businesses that should result in improving revenue and EPS growth in the second half of 2023, said the analyst, who argued that Microsoft Corporation (NASDAQ:MSFT)’s “unique positioning as a consolidator” should drive demand. The analyst has an Overweight rating and a $307 price target on Microsoft Corporation (NASDAQ:MSFT) shares.

According to Insider Monkey’s Q3 data, 269 hedge funds were bullish on Microsoft Corporation (NASDAQ:MSFT), compared to 258 funds in the prior quarter. Bill & Melinda Gates Foundation Trust is the largest investor in the company, with a position worth over $9 billion. 

Diamond Hill made the following comment about Microsoft Corporation (NASDAQ:MSFT) in its Q3 2022 investor letter:

“Also among our bottom contributors were media and technology giant Alphabet, software and IT services provider Microsoft Corporation (NASDAQ:MSFT) and insurance company American International Group (AIG). Microsoft shares declined in Q3, along with other tech companies, as rising interest rates impacted the near-term outlook. We expect the business to continue to generate strong revenue growth and benefit from operating leverage. Microsoft’s cloud computing services business, Azure, is generating robust growth, confirming its competitive positioning.”

You can also take a look at 11 Best Digital Payments Stocks To Buy and 10 Cheap Robinhood Stocks That Are Too Cheap To Ignore.