Here’s What Makes Visa (V) an Attractive Investment Avenue

Baron Funds, an investment management company, released its “Baron FinTech Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund gained 4.98% (Institutional Shares) compared to a 7.56% gain for the S&P 500 benchmark index and a 3.91% return for the FactSet Global FinTech Index. Favorable stock selection in Information Services, Payments, and Capital Markets contributed to the gains of the fund in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Baron FinTech Fund highlighted stocks like Visa Inc. (NYSE:V) in the fourth quarter investor letter. Headquartered in San Francisco, California, Visa Inc. (NYSE:V) is a payments technology company. On February 17, 2023, Visa Inc. (NYSE:V) stock closed at $223.56 per share. One-month return of Visa Inc. (NYSE:V) was -0.33% and its shares gained 0.39% of their value over the last 52 weeks. Visa Inc. (NYSE:V) has a market capitalization of $469.876 billion.

Baron FinTech Fund made the following comment about Visa Inc. (NYSE:V) in its Q4 2022 investor letter:

“Shares of global payment network Visa Inc. (NYSE:V) increased after reporting strong quarterly results, with 19% growth in revenue and EPS despite currency headwinds and the suspension of operations in Russia. Payment volume grew 16% in local currency (excluding Russia and China) with notable strength in cross-border volumes driven by rebounding international travel. Management also provided encouraging guidance for the next fiscal year. We continue to own the stock due to Visa’s long runway for growth and significant competitive advantages.”

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Visa Inc. (NYSE:V) is in 5th position our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 165 hedge fund portfolios held Visa Inc. (NYSE:V) at the end of the third quarter, which was 166 in the previous quarter.

We discussed Visa Inc. (NYSE:V) in another article and shared the list of most profitable Robinhood stocks. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.