5 Best Digital Payments Stocks To Buy Now

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1. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 165

Visa Inc. (NYSE:V) is one of the best digital money stocks favored by elite hedge funds. On November 25, Visa Inc. (NYSE:V) announced that its U.S. payments volume in November rose 9% from a year ago, even after the company concluded its operations in Russia in March 2022. Global processed transactions increased 10% year-over-year and were 140% of the 2019 levels in November.

On October 27, investment advisory Barclays maintained an Overweight rating on Visa Inc. (NYSE:V) but lowered the firm’s price target on the shares to $264 from $271 following the Q3 results. Analyst Ramsey El-Assal issued the ratings update.

According to Insider Monkey’s data, 165 hedge funds were bullish on Visa Inc. (NYSE:V) at the end of September 2022, compared to 166 funds in the prior quarter. Chris Hohn’s TCI Fund Management is the largest position holder in the company, with approximately 20 million shares worth $3.5 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.”

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