Dow 30 Stocks List: 15 Stocks Ranked By 2022 Hedge Fund Bullishness Index

02. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders as of Q3, 2022: 165

Visa Inc. (NYSE:V) is a payments technology company that provides debit and credit cards to banks for their customers. Like its rival, Mastercard, the firm also provides its customers the ability to generate analytics from transaction data. On December 2, Wells Fargo analyst Donald Fandetti maintained an Overweight rating on Visa Inc. (NYSE:V) stock and raised the price target to $250 from $225, noting that it is believed that the company is becoming even more entrenched in the global money movement ecosystem with their new products, making it even more difficult to disintermediate them in any meaningful way.

Insider Monkey studied 920 hedge fund portfolios for this year’s third quarter to determine that 165 had bought Visa Inc. (NYSE:V)’s shares. Out of these, Chris Hohn’s TCI Fund Management is Visa Inc. (NYSE:V)’s largest investor. It owns 19.9 million shares that are worth $3.5 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.”