Top 5 Stocks in Larry Robbins’ Portfolio

4. Global Payments Inc (NYSE:GPN)

Number of Hedge Fund Holders:56
Percentage of Glenview Capital’s Portfolio:5.18%

Global Payments Inc. (NYSE:GPN), a provider of payment technology and software solutions, has benefited from the boom in the financial sector. The stock is already up by more than 8% for the year as it bounces back after a long period of consolidation. While operating through three segments: Merchant Solutions, Issuer Solutions, and Consumer Solutions, it pays a solid dividend yield of 0.92%

Securities filings reveal that Glenview Capital trimmed its stake in Global Payments Inc. (NYSE:GPN) by 7% during the first quarter of 2023. The fund presently owns 2.24 million shares of Global Payments Inc. (NYSE:GPN) worth over $236.18 million, representing 5.18% of the portfolio.

According to Insider Monkey’s database, 56 hedge funds were long Global Payments Inc (NYSE:GPN) as of Q1 2023. The total value of their holdings was $2.66 billion. Orbis Investment Management is a significant shareholder in the company, with 6.55 million shares valued at $689 billion.

Barclays analyst Ramsey El-Assal lifted the firm’s price target on Global Payments Inc. (NYSE:GPN) from $125 to $135 and reiterated an ‘Overweight’ rating on the stock on July 10.

Oakmark Funds made the following comment about Global Payments Inc. (NYSE:GPN) in its Q4 2022 investor letter:

“We eliminated four positions during the quarter: Philip Morris International, ConocoPhillips, Global Payments Inc. (NYSE:GPN) and Johnson Controls. We sold Global Payments to utilize a tax loss and to increase our position in Fiserv, a similar business that offers better fundamentals at a comparable valuation.”