5 Best Stocks To Buy For The Next 3 Months

4. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 177

Visa Inc. (NYSE:V), an American multinational financial technology giant, is one of the best stocks to buy according to elite hedge funds. On January 26, Visa Inc. (NYSE:V) reported a FQ1 non-GAAP EPS of $2.18, beating market estimates by $0.17. The revenue of $7.9 billion climbed 11.9% year-over-year, outperforming Street forecasts by $200 million. Visa Inc. (NYSE:V) is also set to pay a $0.45 per share quarterly dividend on March 1, to shareholders of record as of February 10. 

On January 29, Barclays analyst Ramsey El-Assal raised the firm’s price target on Visa Inc. (NYSE:V) to $270 from $266 and maintained an Overweight rating on the shares. The updated target is based on management’s revised Q2 guidance and an unchanged fiscal 2023 outlook, according to the analyst’s note to investors.

Among the hedge funds tracked by Insider Monkey, Visa Inc. (NYSE:V) was part of 177 public stock portfolios at the end of Q4 2022, compared to 165 in the earlier quarter. Warren Buffett’s Berkshire Hathaway is a prominent stakeholder of the company, with 8.2 million shares worth $1.7 billion. 

Baron FinTech Fund made the following comment about Visa Inc. (NYSE:V) in its Q4 2022 investor letter:

“Shares of global payment network Visa Inc. (NYSE:V) increased after reporting strong quarterly results, with 19% growth in revenue and EPS despite currency headwinds and the suspension of operations in Russia. Payment volume grew 16% in local currency (excluding Russia and China) with notable strength in cross-border volumes driven by rebounding international travel. Management also provided encouraging guidance for the next fiscal year. We continue to own the stock due to Visa’s long runway for growth and significant competitive advantages.”