Billionaire Steve Cohen’s Top 5 Dividend Stocks

4. Visa Inc. (NYSE:V)

Point72 Asset Management’s Stake Value as of 9/30: $204,948,000

Percentage of Point72 Asset Management’s 13F Portfolio as of 9/30: 0.81%

Dividend Yield as of 11/18: 0.85%

Payments giant Visa Inc. (NYSE:V) was one of the rare top stocks that Point72 Asset Management trimmed in Q3. In the September quarter, billionaire Steve Cohen’s fund cut its position in Visa Inc. (NYSE:V) by 17% to end the third quarter with a stake of around $205 million. Visa Inc. (NYSE:V) has a dividend yield of 0.85% and is down 2.7% year to date.

Baron Funds commented on Visa Inc. (NYSE:V) in its Q3 2022 investor letter,

“Shares of global payment network Visa Inc. (NYSE:V) fell despite reporting financial results that beat Street forecasts and sustained volume growth in recent months. Revenue grew 19% and EPS grew 33% in the most recent quarter, and double-digit payment volume growth persisted through August. Share price weakness represented a reversal of outperformance earlier this year and may be due to foreign exchange headwinds and concerns about a potential weakening of consumer spending. We continue to own the stock due to Visa’s long runway for growth and significant competitive advantages.”