5 Best Roth IRA Stocks To Buy According To Hedge Funds

4. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 165

Visa Inc. (NYSE:V) is a San Francisco, California-based provider of digital payment services through its payment gateway network.

On November 17, the company announced the appointment of Ryan McInerney as CEO, effective from February 2023. Notable hedge funds like Ray Dalio’s Bridgewater Associates and Chase Coleman’s Tiger Global increased their stake in the company during Q3 2022, reflecting a bullish take on Visa Inc. (NYSE:V) stock by some of the world’s leading hedge funds.

Following the positive Q3 2022 results, Visa Inc. (NYSE:V) announced an increase in quarterly dividends by 20% to 45 cents. The company also announced a new $12 billion share buyback plan to further boost shareholder returns. Visa Inc. (NYSE:V) was able to report strong quarterly results, despite the headwinds caused by the US dollar gaining strength against major currencies of the world, making it one of the best Roth IRA stocks to buy.

Baron Funds discussed its outlook on Visa Inc. (NYSE:V) in its Q3 2022 investor letter. Here’s what the firm said:

“Shares of global payment network Visa Inc. (NYSE:V) fell despite reporting financial results that beat Street forecasts and sustained volume growth in recent months. Revenue grew 19% and EPS grew 33% in the most recent quarter, and double-digit payment volume growth persisted through August. Share price weakness represented a reversal of outperformance earlier this year and may be due to foreign exchange headwinds and concerns about a potential weakening of consumer spending. We continue to own the stock due to Visa’s long runway for growth and significant competitive advantages.”

Of the 920 hedge funds in Insider Monkey’s database, Visa Inc. (NYSE:V) was held by 165 funds as of Q3 2022.