5 Safe Stocks to Buy For Beginner Investors

2. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 165  

Visa Inc. (NYSE:V) operates as a payments technology company worldwide.  It is one of the elite safe stocks to buy for beginners. On October 19, Visa noted that it is partnering with Thunes, a financial institute in Singapore, to help small businesses and individuals to move money in 78 digital wallet providers, reaching 1.5 billion digital wallets across 44 countries and territories. The company is one of the top payment firms and is expected to benefit from the continued shift towards digital in the coming years. 

On October 27, BMO Capital analyst James Fotheringham maintained an Outperform rating on Visa Inc. (NYSE:V) stock and lowered the price target to $241 from $257. 

At the end of the third quarter of 2022, 165 hedge funds in the database of Insider Monkey held stakes worth $22.5 billion in Visa Inc. (NYSE:V), compared to 166 in the preceding quarter worth $24 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.”