5 Best Forever Stocks to Buy Now

1. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 173

Headquartered in San Francisco, California, Visa Inc. (NYSE:V) is a prominent American multinational financial services corporation. The company specializes in facilitating electronic funds transfers on a global scale, predominantly utilizing Visa-branded credit cards, debit cards, and prepaid cards. As of July 8, Visa Inc. (NYSE:V), a global leader in electronic payments, offers a quarterly dividend of $0.45 per share, resulting in a dividend yield of 0.76%. Recognized as one of the world’s most valuable companies, Visa Inc. (NYSE:V) has been a longstanding investment in Warren Buffett’s portfolio.

At the end of March 31, 173 hedge funds tracked by Insider Monkey held stakes in Visa Inc. (NYSE:V), compared with 177 in the previous quarter. Collectively, these stakes are worth over $26 billion. Chris Hohn’s TCI Fund Management holds the largest stake in the company, with shares valued at approximately $4.34 billion.

Manole Capital Management made the following comment about Visa Inc. (NYSE:V) in its second quarter 2023 investor letter:

“We like to start out all of our discussions by telling investors who we are. We are FINTECH investors, and we define Fintech as “anything utilizing technology to improve an established process.” We realize that half of Fintech is financial, but we don’t invest in traditional, credit sensitive banks. Having managed money during the Financial Crisis, we learned firsthand how certain opaque and balance sheet intensive financials could go bankrupt or insolvent.

We prefer transaction-based businesses, generating recurring revenue, with sustainable margins, and significant cash flow. From our perspective, the perfect example of a FINTECH business is the secularly growing payments industry. Names like Visa Inc. (NYSE:V) or Mastercard, that generate revenue and profit per swipe or transaction, without the underlying credit sensitivity or risk associated with that underlying line of credit.”

Disclosure: None. You can also take a look at 10 Best Big Name Stocks to Buy Now and 11 Best FMCG Stocks To Buy Now.