5 Best Financial Stocks To Buy Now

2. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 109   

Mastercard Incorporated (NYSE:MA) is a technology company that provides transaction processing and other payment-related products and services in the United States and internationally. It is one of the premier financial stocks to invest in. The firm recently announced that Mastercard Crypto Secure, a tech-solution offered by the firm, would bring a new level of trust to crypto purchases across the global network of 24,000 exchanges. 

On August 1, BMO Capital analyst James Fotheringham maintained an Outperform rating on Mastercard Incorporated (NYSE:MA) stock and raised the price target to $422 from $402, noting that the company’s Q2 results benefited from higher exposure to cross-border travel. 

At the end of the second quarter of 2022, 109 hedge funds in the database of Insider Monkey held stakes worth $17 billion in Mastercard Incorporated (NYSE:MA), compared to 104 in the preceding quarter worth $19 billion. 

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Mastercard Incorporated (NYSE:MA) was one of them. Here is what the fund said:

“The Fund’s holdings in the Payments and Information Services themes also contributed to relative performance. Within Payments, lower exposure to this lagging theme and outperformance of Mastercard Incorporated (NYSE:MA) added the most value. These global payment networks are viewed as safe havens during market downturns but are also benefiting from resilient payment volumes and a sharp rebound in international travel.”