5 Safest Stocks To Buy Now

4. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 162

Visa Inc. (NYSE:V) is a multinational financial services company that enables electronic funds transfers throughout the world. Based in California, the company ranks fourth on our list of the 10 safest stocks to buy now.

At the end of the second quarter of 2021, 162 hedge funds in the database of Insider Monkey held stakes worth $27.6 billion in Visa Inc. (NYSE:V), down from 164 in the previous quarter with stakes worth $26.5 billion.

On August 17, JPMorgan analyst Tien-tsin Huang raised the firm’s price target on Visa Inc. (NYSE:V)to $267 from $249, and kept an Overweight rating on the shares.

The company issued its quarterly earnings report for the third quarter of 2021 on July 27, with earnings per share at $1.49, beating forecast estimates by $0.14. The company also reported a revenue of $6.13 billion, surpassing predicted revenues by $272.49 million.

In its Q1 2021 investor letter, ClearBridge Investments declared selling off companies that were not as profitable in order to make room to add Visa Inc. (NYSE:V) to their portfolio. 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.”