5 Stocks to Buy According to BlueSpruce Investments

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In this article, we discuss 5 stocks to buy according to BlueSpruce Investments. If you want to see some other important stocks in the fund’s Q1 portfolio, go directly to 10 Stocks to Buy According to BlueSpruce Investments.

5. Visa Inc. (NYSE:V)

BlueSpruce Investments’ Stake Value: $599,415,000
Percentage of BlueSpruce Investments’ Portfolio: 9.72%
Number of Hedge Fund Holders: 159

Visa Inc. (NYSE:V) is one of BlueSpruce Investments’ favorite stocks. In the first quarter of 2022, the fund increased its hold in the company by 89% to 2.70 million shares worth $599.42 million. Visa Inc. (NYSE:V) has featured on BlueSpruce Investments’ portfolio since the fourth quarter of 2016.

At the end of Q1 2022, 159 hedge funds tracked by Insider Monkey were bullish on Visa Inc. (NYSE:V), up from 142 in the quarter earlier. The collective value of these stakes is over $28.08 billion. Will Nance of Goldman Sachs initiated coverage of Visa Inc. (NYSE:V) on May 17, assigning a Buy rating and a $282 price target, representing a 43% upside.

Baron Funds mentioned Visa Inc. (NYSE:V) in its Q1, 2022 investor letter. Here is what the firm has to say:

 “Shares of global payment network Visa, Inc. (NYSE:V) were up 2.5% on strong quarterly results with 24% revenue growth and 27% EPS growth. Payment volume grew 20% with notable strength in cross-border volumes as travel activity rebounded from depressed levels. Management raised full-year guidance to reflect high-teens revenue growth. Shares also likely benefited from a “flight to safety” during a volatile quarter for equities. We continue to own the stock due to Visa’s long runway for growth underpinned by the continued migration from cash transactions to card/digital and strong competitive advantages, operating in a duopoly with Mastercard.”

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