5 Best Big Name Stocks to Buy Now

4. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 173 

Visa Inc. (NYSE:V) operates as a payments technology company worldwide. On May 26, the company announced that it had joined a pilot program for Brazil’s central bank digital currency (CBDC). The initiative aims to explore the potential benefits and challenges of issuing a digital currency in Brazil. The collaboration signifies the growing interest of major companies in CBDCs and their potential impact on the global financial landscape. Tech giant Microsoft is also part of this pilot program. 

On May 1, investment advisory Barclays maintained an Overweight rating on Visa Inc. (NYSE:V) stock and raised the price target to $272 from $270. Analyst Ramsey El-Assal issued the ratings update. 

At the end of the first quarter of 2023, 173 hedge funds in the database of Insider Monkey held stakes worth $26 billion in Visa Inc. (NYSE:V), compared to 177 in the preceding quarter worth $26.4 billion.

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Visa Inc. (NYSE:V) was one of them. Here is what the fund said:

“The Fund’s holdings in the Payments and Information Services themes also contributed to relative performance. Within Payments, lower exposure to this lagging theme and outperformance of Visa, Inc. (NYSE:V). These global payment networks are viewed as safe havens during market downturns but are also benefiting from resilient payment volumes and a sharp rebound in international travel.”