5 Best Fintech Stocks To Buy In 2024

2. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 140

Mastercard Incorporated (NYSE:MA), a technology firm, offers transaction processing and payment-related products and services globally. The company processes payment transactions, handles authorization, clearing, and settlement processes, and provides additional payment-related products and services. It is one of the best fintech stocks to buy. On February 6, Mastercard Incorporated (NYSE:MA) declared a quarterly dividend of $0.66 per share, in line with previous. The dividend is payable on May 9, to shareholders of record on April 9. 

According to Insider Monkey’s third quarter database, 140 hedge funds were bullish on Mastercard Incorporated (NYSE:MA), compared to 139 funds in the prior quarter. Charles Akre’s Akre Capital Management is the largest stakeholder of the company, with 5.85 million shares worth $2.3 billion. 

Ensemble Capital Management stated the following regarding Mastercard Incorporated (NYSE:MA) in its fourth quarter 2023 investor letter:

“Mastercard Incorporated (NYSE:MA) (7.21% weight in the Fund): Payment companies are data companies. As we discussed last quarter in our write up of Mastercard, merchants can generate significant value from analyzing payment data to better understand their customers. Mastercard has long built AI-based products to enhance payment security and provide merchants with rich data analytics. In December, they rolled out Muse, a new online shopping companion that merchants who utilize certain Mastercard services can install on their own websites.

Muse seeks to replicate the instore experience of working with a salesclerk by allowing the customer to use natural language to browse products. Online shopping already works well if you know exactly what you are looking for, but Muse is striving to help customers find things to buy even when they aren’t sure what they are looking for.

Mastercard (7.21% weight in the Fund): In late October, Mastercard reported earnings that investors interpreted as pointing to a near term slowdown in payment growth. The stock fell 5.6% on the day. By the end of the next week, the stock had recovered its losses and went on to reach a new all time high on the last day of the year. But the 7.9% gain on the quarter slightly trailed the S&P 500.”