TipRanks’ Top Hedge Fund Managers tool allows users to track the investment portfolios of leading financial professionals. Today, we focused on the top three picks: Microsoft (NASDAQ: MSFT), Nvidia (NASDAQ:NVDA), and Intuit (NASDAQ:INTU) – from a prominent hedge fund manager, Donald R. Jowdy of Suncoast Equity Management.
Before we continue, let’s learn more about hedge fund manager, Donald R. Jowdy.
According to the ranking, Jowdy ranks ninth among the 487 hedge fund managers evaluated by TipRanks. It is worth noting that he has a proven track record, with a cumulative gain of 256.02% since January 2016 and an average return of 28.05% over the last 12 months.
It is important to note that a hedge fund manager’s performance on a portfolio is best indicated by the Sharpe ratio, which measures the portfolio’s returns relative to its risks. A Sharpe ratio greater than 1 means that the portfolio has returns greater than the risks. Jowdy has a Sharpe ratio of 4.34.
In this context, let’s explore what Street says about Jowdy’s key choices.
Is Microsoft a stock to buy, sell or hold?
Microsoft is a multinational technology company known for its software products, including the Windows operating system and its Azure cloud computing services. MSFT shares make up 9.02% of Jowdy’s portfolio.
The company has a strong presence in the software development market. Additionally, investments in artificial intelligence, as well as the expansion of cloud computing and gaming units, could continue to support MSFT’s growth.
Overall, MSFT has a Strong Buy consensus rating on TipRanks, based on 32 Buys and one Hold. Additionally, the average analyst price target on Microsoft stock of $500.55 implies an upside potential of 8.63% from current levels. The company’s shares have gained 23% year-to-date.
Is Nvidia a stock to buy, sell or hold?
NVDA manufactures graphics processing units (GPUs), chipsets, and related multimedia software. Nvidia shares currently represent 6.08% of Jowdy’s portfolio.
The company’s dominant position in the GPU market could continue to support its growth. In addition, NVDA’s strong cash position should support its continued efforts to lead the AI race through new product launches.
With 38 buy ratings and three hold ratings, Nvidia has a strong buy consensus. On TipRanks, the average analyst price target on NVDA stock of $135.81 implies a 5.87% upside potential from current levels. Year-to-date, the company’s shares have gained 159.1%.
Is INTU a good stock to buy now?
INTU is a financial software company that provides solutions for small businesses and personal finance management. Jowdy’s portfolio share of Visa stock currently stands at 5.77%.
Intuit’s investments in generative AI are expected to support its bottom-line growth. At the same time, strong financial performance and a focus on international expansion are expected to bolster the company’s outlook.
On TipRanks, INTU has a Strong Buy consensus rating. This is based on 19 Buy recommendations and two Hold recommendations. The average analyst price target on Intuit stock of $733.28 implies an upside potential of 11.12%. The company’s shares have gained 5.89% so far in 2024.
Final thoughts
The impressive portfolio gains made by leading hedge fund managers may encourage investors to embrace their portfolio allocation strategy. For more ideas on top expert picks, investors can visit TipRanks Expert Center and make informed investment decisions.
Disclosure
