5 Good Stocks To Invest In Right Now

3. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 171

At the end of the second quarter, 171 hedge funds were long Visa Inc. (NYSE:V). Their total stake value was $24.9 billion.

Visa Inc. (NYSE:V) is a transaction and payment processing services company. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

Moshe Katri at Wedbush reiterated an Outperform rating and a $270 price target on Visa Inc. (NYSE:V) shares on August 31.

Baron Funds said the following about Visa Inc. (NYSE:V) in its second-quarter 2023 investor letter:

“We modestly trimmed Visa Inc. (NYSE:V), Mastercard Incorporated, and Accenture plc to manage the position sizes and raise capital to fund purchases elsewhere. These stocks remain full-sized positions and high-conviction ideas in the Fund.

Another fintech industry trend we’re seeing is a pickup in M&A activity, most notably in the payments sector. The year started with Nuvei’s $1.3 billion acquisition of Paya announced in January. In April, Network International received an initial takeover offer from a group of private equity firms, which was then topped by Brookfield Asset Management whose $2.8 billion offer was accepted by the Board in June. Following reports earlier this year of a bidding war between Visa Inc. and Mastercard Incorporated to acquire cloud-based issuer processor and core banking software provider Pismo, Visa announced its intention to acquire the Brazilian company for $1 billion in late June.”