5 Best Dow Jones Dividend Stocks According to Hedge Funds

2. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 177

Visa Inc. (NYSE:V) specializes in electronic funds transfers throughout the world. The company is headquartered in California, US. In March, Jefferies raised its price target on the stock to $303 with a Buy rating on the shares, presenting a positive stance on the company’s international transaction fees and data processing.

Visa Inc. (NYSE:V) currently pays a quarterly dividend of $0.45 per share and has a dividend yield of 0.82%, as of March 29. The company is one of the best dividend stocks on our list as it has been raising its payouts consistently for the past 16 years.

At the end of Q4 2022, 177 hedge funds in Insider Monkey’s database owned stakes in Visa Inc. (NYSE:V), compared with 165 in the previous quarter. These stakes are worth over $26.4 billion collectively. With nearly 20 million shares, TCI Fund Management was the company’s leading stakeholder in Q4.

Vulcan Value Partners mentioned Visa Inc. (NYSE:V) in its Q4 2022 investor letter. Here is what the firm has to say:

“Mastercard and Visa Inc. (NYSE:V) both delivered strong top and bottom-line results during the quarter. MasterCard grew its revenues and operating profits approximately 23% and 27% respectively. Visa grew its revenues and operating profits approximately 19% and 19% respectively. Both companies also produced strong free cash flow.”