5 Best Dividend Stocks to Buy According to Warren Buffett

1. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 167

Visa Inc. (NYSE:V) functions as a payment technology company. Visa Inc. (NYSE:V) also provides credit, debit, and prepaid card products.

Visa Inc. (NYSE:V) stands out as one of the best dividend stocks, having increased its offering by 15% in October to $0.52 a share, marking the 13th consecutive year of dividend growth. Visa Inc. (NYSE:V)’s yield stands at 0.80%.

By the conclusion of the third quarter in 2023, Insider Monkey’s database indicated that 167 hedge funds retained stakes in Visa Inc. (NYSE:V), with a combined value of $24.4 billion. This marked a slight decrease from the 171 hedge funds in the preceding quarter, holding stakes valued at $24.9 billion.

In its Q3 2023 investor letter, Ensemble Capital Management featured Visa Inc. (NYSE:V) among the highlighted stocks. The fund provided the following insights:

“Mastercard is a company that pretty much everyone has heard of. In fact, when we meet with Ensemble’s clients, we occasionally tell them that we’re nearly certain that they are carrying a Mastercard in their wallet or purse as we speak, and if not, they are carrying a Visa Inc. (NYSE:V). Most people carry both.

People carry Mastercard and Visa because they are accepted nearly everywhere in developed markets. And they are accepted in most emerging economies, at least at locations where higher income people spend money. As a shopper you can show up at a bodega in Peru, a high end hotel in Tokyo, a truck stop in Alabama, or an ice cream cart in Milan, show them a piece of plastic and they’ll let you walk away with goods and services without any worry that they aren’t going to get paid…” (Click here to read the full text)

[/company-follow-email]

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily newsletter to get  the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also check out our articles on Hedge Funds Say These Penny Stocks Are Poised to Explode and 10 Best Stan Druckenmiller Stocks Other Billionaires Are Also Piling Into.