5 Best S&P 500 Stocks to Buy According to Hedge Funds

4. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 166  

Visa Inc. (NYSE:V) operates as a payments technology company worldwide. It is one of the top large cap stocks to invest in. On October 6, TD Securities, a subsidiary of TD Bank, said that it has taken part in Visa’s cross border Business-to-Business payments network in an effort to make the global payments process easier and faster for its corporate clients. 

On October 12, Baird analyst David Koning maintained an Outperform rating on Visa Inc. (NYSE:V) stock and lowered the price target to $240 from $265, noting that the company’s secular growth, high quality earnings, and likelihood of growth was much better than that of peers in coming years.   

At the end of the second quarter of 2022, 166 hedge funds in the database of Insider Monkey held stakes worth $24 billion in Visa Inc. (NYSE:V), compared to 159 in the preceding quarter worth $28 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.”