Should You Hold Visa (V) for Long-Term?

Baron Funds, an investment management company, released its “Baron FinTech Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund declined 1.75% (Institutional Shares) compared to a 4.88% decline for the S&P 500 benchmark index and a 4.95% decline for the FactSet Global FinTech Index. Favorable stock selection held up the portfolio better than its benchmark in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Baron Funds discussed stocks like Visa Inc. (NYSE:V) in the third quarter investor letter. Headquartered in San Francisco, California, Visa Inc. (NYSE:V) is a global payment technology company. On November 16, 2022, Visa Inc. (NYSE:V) stock closed at $210.14 per share. One-month return of Visa Inc. (NYSE:V) was 12.24%, and its shares gained 3.35% of their value over the last 52 weeks. Visa Inc. (NYSE:V) has a market capitalization of $442.679 billion.

Baron Funds made the following comment about 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.”

Visa Inc. (NYSE:V) is in 5th position on 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 biggest ESG companies in the world. In addition, please check out our hedge fund investor letters Q3 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.