Top 5 Dividend Stocks To Buy According To Hedge Funds

2. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 165

Visa Inc. (NYSE:V) is a California-based multinational financial services company. In November, Baird maintained an Outperform rating on the stock with a $250 price target, appreciating the company’s operating metrics and its overall fundamentals.

On October 25, Visa Inc. (NYSE:V) announced a 20% growth in its quarterly dividend to $0.45 per share. This marked the company’s 14th consecutive year of dividend growth, which makes it one of the best dividend stocks on our list. As of November 29, the stock has a dividend yield of 0.86%.

At the end of Q3 2022, 165 hedge funds in Insider Monkey’s database owned stakes in Visa Inc. (NYSE:V), compared with 166 in the previous quarter. These stakes are worth over $22.4 billion collectively.

Baron Funds mentioned Visa Inc. (NYSE:V) in its Q3 2022 investor letter. Here is what the firm has to say:

“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.”