If any investor has stood the test of time, it is Warren Buffett, and with good reason. For years, the “Oracle of Omaha” has had a rock-star-like presence in the investing world. His annual Berkshire Hathaway shareholders meeting draws thousands of loyal fans who are investors. Known for his long buy and hold strategies and his massive portfolio of public and private holdings, Buffett remains one of the preeminent investors in the entire world.
We decided to have a look at his portfolio for stocks that not only look poised to do very well this year and beyond but have been beaten down since the beginning of the year. While Berkshire Hathaway for years always stayed with more conservative ideas, younger portfolio managers, who perhaps understood the nuances of technology and the changing world, have opened up the fund to new ideas.
We found five companies that may surprise investors, and all are outstanding ideas now after 10 weeks of selling to start off 2022. Not only are they in the Berkshire Hathaway portfolio, but all are Buy rated at top firms across Wall Street. It is important to remember that no single analyst call should ever be used as a basis to buy or sell a stock.
Activision Blizzard
This remains a top gaming pick on Wall Street, and though Microsoft is buying the company, this could be a very solid idea now. Activision Blizzard Inc. (NASDAQ: ATVI) develops and publishes online, personal computer (PC), video game console, handheld, mobile and tablet games worldwide. The stock is down a stunning 36% since posting highs in January.
The company develops and publishes interactive entertainment software products through retail channels or digital downloads and downloadable content to a range of gamers. Its legacy franchise Call of Duty continues to be hugely popular.
Microsoft announced plans to acquire the company back in January. Top analysts feel the acquisition will accelerate the growth in Microsoft’s gaming business across mobile, PC, console and cloud and will provide building blocks for the metaverse. Microsoft will acquire Activision Blizzard for $95 per share, in an all-cash transaction valued at $68.7 billion, inclusive of Activision Blizzard’s net cash. When the transaction closes, Microsoft will become the world’s third-largest gaming company by revenue, behind Tencent and Sony.
Investors receive a 0.58% dividend. The $95 KeyCorp price target compares to the consensus of $92.47. The last Activision Blizzard stock trade for Wednesday was reported at $80.83.
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