5 Best Quality Stocks to Buy Now

2. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 146

Mastercard Incorporated (NYSE:MA) is a Harrison, New York-based payment processing company that has the distinction of being the second biggest payment processing entity in the world.

In an update issued to investors on October 28, Ashwin Shirvaikar at Citi assigned Mastercard Incorporated (NYSE:MA) a target price of $400 and maintained a Buy rating on the stock. Mastercard Incorporated (NYSE:MA) posted strong Q3 results that outperformed consensus estimates. Furthermore, numerous data points in the results highlighted the resiliency of the average consumer spending pattern. Like other market observers, the analyst was surprised by the company’s “expense guidance” for Q4 2022. However, he thinks that there is still significant upside potential to be offered by Mastercard Incorporated (NYSE:MA) stock.

Baron Funds shared its outlook on one of the best quality stocks in its Q2 2022 investor letter. Here’s what the firm 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 Mastercard Incorporated (NYSE:MA) added the most value. 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.”

Akre Capital Management was the leading hedge fund investor in Mastercard Incorporated (NYSE:MA) during Q3 2022.