5 Best Stocks to Buy According to Billionaire Steve Cohen

2. Visa Inc. (NYSE: V)

Cohen’s Stake Value: $306,247,000
Percentage of Steve Cohen’s 13F Portfolio: 1.43%
Number of Hedge Fund Holders: 164

Visa Inc. (NYSE: V) is an American multinational financial services corporation. It was incorporated in 1958 and is ranked second on the list of 10 best stocks to buy according to billionaire Steve Cohen. Visa currently has a $524.65 billion market capitalization and was able to deliver a 27.75% return in the past 12 months.

On June 22, Visa Inc. (NYSE: V) and PayPal Holdings, Inc. (NASDAQ: PYPL)  invested in Blockchain Capital’s $300 million fundraising. Visa Inc. stated that the association with Blockchain Capital will support Visa’s efforts to strengthen digital currencies’ role in the future. The company also announced that consumers spent above $1 billion of cryptocurrency internationally on goods and services via crypto-linked cards in the first half of 2021. On July 15, Evercore ISI analyst David Togut initiated a coverage on Visa Inc. (NYSE: V) with an “Outperform” rating and a price target of $286.

Point72 Asset Management holds more than 1.45 million shares in the firm worth over 306 million. This represents 1.42% of their portfolio.

ClearBridge Investments, in their first quarter 2021 investor letter, mentioned Visa Inc. (NYSE: V). Here is what the fund said:

“To make room for these new names with more attractive outlooks related to the reopening, we sold out of companies where the thesis is not playing out at the pace we expected including Visa.”