In this article, we discuss the top 5 stock picks of Rajiv Jain’s GQG Partners as of the end of the third quarter and assess these stocks’ performance over the past 12 months. If you want to read our detailed analysis of Jain’s history, investment philosophy, and hedge fund performance, go directly to Was Rajiv Jain’s GQG Partners Right About These 10 Stocks?.
5. Visa Inc. (NYSE:V)
GQG Partners’ Stake Value: $1.7 billion
Performance of the stock over the past 12 months as of November 22: +4%
Visa Inc. (NYSE:V) operates as a payments technology company that enables digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities worldwide through its Visa credit, debit, and prepaid cards.
On November 18, Morgan Stanley analyst James Faucette maintained an Overweight rating and $280 price target on Visa Inc. (NYSE:V) shares. The analyst notes that he sees minimal risks to the company’s forecasted results.
Here is what L1 Capital has to say about Visa Inc. (NYSE:V) in its Q3 2021 investor letter:
“In our view, the payment network company, Visa, remains very well positioned to participate in an ever-expanding market for electronic payments. In time, ‘Buy now, Pay Later’ may have a modest impact on Visa’s transaction volumes, however in aggregate, we believe it will have the greater effect of supporting growth in electronic payments more broadly. Nearer term, we believe the recovery in international travel as the world gradually normalises and learns to live with COVID-19 will be materially positive for Visa’s financial performance. eCommerce will also remain a positive key driver for Visa growth.”
4. Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)
GQG Partners’ Stake Value: $1.79 billion
Performance of the stock over the past 12 months as of November 22: -3.2%
One of the largest Brazilian companies, Petróleo Brasileiro S.A.– Petrobras (NYSE:PBR) is an integrated oil and gas company. The company is involved in prospecting, drilling, refining, processing, trading and transporting crude oil from producing onshore and offshore oil fields.
On November 16, HSBC analyst Lilyanna Yang upgraded Petróleo Brasileiro S.A.– Petrobras (NYSE:PBR) to Buy from Hold with a $13 price target.
3. Meta Platforms, Inc. (NASDAQ:FB)
GQG Partners’ Stake Value: $1.9 billion
Performance of the stock over the past 12 months as of November 22: -67%
Rajiv Jain’s GQG Partners reported holding over 5.66 million shares of Meta Platforms, Inc. (NASDAQ:FB) as of Q3 2021.
On October 28, investment advisory Piper Sandler maintained a Neutral rating on Meta Platforms, Inc. (NASDAQ:FB) stock with a $385 price target.
Among the hedge funds being tracked by Insider Monkey, Boykin Curry’s Eagle Capital Management is the leading shareholder of Meta Platforms, Inc. (NASDAQ:FB), with 7.19 million shares worth approximately $2.44 billion.
Here is what Polen Capital has to say about Meta Platforms, Inc. (NASDAQ:FB) in its Q3 2021 investor letter:
“Facebook’s stock was pressured on concerns about regulation in the quarter. We are constantly monitoring the potential regulatory risks to Facebook (and all of our holdings). At this point, we see very little chance that regulation changes Facebook’s business model in a meaningful and adverse way. Regarding the recent data shared by a former Facebook employee and the company itself on some of the unfortunate negative consequences of social media, we recognize these types of issues will inevitably linger in different forms and fashions well into the future. We have been focused on the ability of Facebook to identify and mitigate these negative consequences while amplifying the value users typically cite for its apps across a long list of use cases. We continuously monitor the vibrance of the user base on Facebook’s apps to confirm that value.”
2. Alphabet Inc. (NASDAQ:GOOG)
GQG Partners’ Stake Value: $2.98 billion
Performance of the stock over the past 12 months as of November 22: -32%
Alphabet Inc. (NASDAQ:GOOG) is a multinational California-based tech corporation that owns and runs the internet search engine Google.
On November 2, Morgan Stanley analyst Brian Nowak raised the price target on Alphabet Inc. (NASDAQ:GOOG) shares to $3,200 from $3,000, and kept an Overweight rating on the shares of the company.
Here is what Weitz Investment Management Partners III Opportunity Fund has to say about Alphabet Inc. (NASDAQ:GOOG) in its Q3 2021 investor letter:
“Our nearly unchanged result this quarter was reminiscent of a balanced scale, with two or three weights on each plate (our top contributors and detractors) practically leveling both sides of the scale. Returns for the bulk of our portfolio were within a narrow band hugging either side of zero, with relatively few securities delivering outsized positive or negative results… Finally, Google parent Alphabet continued its terrific 2021 as the digital advertising giant shows no sign of slowing.”
1. NVIDIA Corporation (NASDAQ:NVDA)
GQG Partners’ Stake Value: $3.13 billion
Performance of the stock over the past 12 months as of November 22: -49%
Nvidia Corporation is a California-based multinational technology company involved in the design and manufacture of computer graphics processors and chip units for the gaming, computing and automotive markets.
On November 18, Raymond James analyst Chris Caso raised the price target on Nvidia Corporation (NASDAQ:NVDA) to $365 from $225, and reiterated a Strong Buy rating on the shares of the company.
Harding Loevner mentioned NVIDIA Corporation (NASDAQ:NVDA) in its second-quarter investor letter. Here is what the firm has to say:
“Within IT, shares of US-based computer chip developer NVIDIA continued their climb as rising demand across segments-from work-from-home laptops to data centers to cryptocurrency mining rigs-led to shortages that translated into surging prices for its chips. Such was the windfall that NVIDIA even made technical changes to some of its products to make them towards what it believes are more sustainable uses. Less attractive to cryptocurrency miners, to steer scarce supply viewed by geography, the lion’s share of excess returns came from good stock performance in the US. In addition to the contributions from NVIDIA and our health care holdings, a pair of IT software and service providers also aided relative returns.”
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