5 Best Dow Jones Dividend Stocks that Hedge Funds Love

2. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 166

Visa Inc. (NYSE:V) is a California-based financial services company that facilitates electronic funds transfers throughout the world. On October 25, the company announced a 20% hike in its quarterly dividend to $0.45 per share. This was the company’s 14th consecutive year of dividend growth. As of October 26, the stock has a dividend yield of 0.77%.

In October, Jefferies maintained a Buy rating on Visa Inc. (NYSE:V) with a $220 price target, appreciating the company’s solid consumer payment volumes both in the US and across the globe.

Visa Inc. (NYSE:V) was a popular stock among elite funds in Q2 2022, as 166 hedge funds in Insider Monkey’s database owned stakes in the company, up from 159 in the previous quarter. These stakes hold a collective value of over $24 billion.

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

“Visa Inc. (NYSE:V) continues to report strong double-digit growth in payment volumes throughout the first two months of the calendar third quarter. The stock suffered after concerns about potential adverse legislation related to its credit card routing practices began to surface. Similar legislation related to the Company’s debit routing practices was passed into law back in 2010. Not unlike the previous legislation, the Company’s value proposition to merchants, consumers and bank-issuing customers and acquirers is robust enough to help blunt the potential effects the legislation might have in the near term. Over a multiyear time horizon, it would be quite difficult for any currently non-existent or even sub-scale credit routing network to add the value that Visa (or MasterCard) can already add today.”