In this piece, we’ll take a look at the 5 Best Stocks To Invest In Right Now. For more such companies, go to 12 Best Stocks To Invest In Right Now.
5. Visa Inc. (NYSE:V)
Number of Hedge Fund Holders: 165
Visa Inc. (NYSE:V) is an American multinational financial services corporation. It processed over $14 trillion in 2021, making it the largest payment processor in the world. The company operates in over 200 countries and can process transactions in more than 160 currencies.
On December 2, 2022, Donald Fandetti, an analyst at Wells Fargo, increased his price target on Visa Inc. (NYSE:V) to $250 while keeping an Overweight rating on the stock. The analyst believes that the company’s new products will further strengthen the company’s position in the global money movement ecosystem.
According to Insider Monkey’s database, 165 hedge funds held stakes in Visa Inc. (NYSE:V) at the end of the third quarter ending September 2022. TCI Fund Management remained the leading stakeholder in the company at the end of Q3 2022.
Here is what Lakehouse Capital had to say about Visa Inc. (NYSE:V) in its third-quarter 2022 investor letter:
Visa Inc. (NYSE:V) continued its long run of steady growth with both net revenue and earnings per share increasing by 19% year-over-year. The company processed 61.9 billion transactions during the quarter, which drove US$2.9 trillion in total payments volume. The return of travel-related spend post-pandemic continues to be a tailwind for the business and it was pleasing to see cross-border volume growth maintain its recent momentum, up 49% year-over-year, excluding intra-Europe. Management also provided some positive commentary on the macro environment, which was reassuring, especially given the heightened recessionary fears at present. They highlighted stable trends that were relatively broad-based and emphasised stability in e-commerce and a general shift in spending away from goods toward services and experiences. Big picture, we remain long-term holders and believe that the combination of an attractive industry structure and the ongoing secular shift towards digital payments provides a strong foundation that will enable Visa to continue growing at attractive rates for many years to come.
4. Meta Platforms, Inc. (NASDAQ:FB)
Number of Hedge Fund Holders: 177
Formerly known as Facebook, Inc., Meta Platforms, Inc. (NASDAQ:FB) is an American multinational technology conglomerate. Meta Platforms, Inc. (NASDAQ:FB) is the world’s largest online social network that provides its services through platforms like Facebook, Instagram, Messenger, and WhatsApp.
The Q3 revenue reported by Meta Platforms, Inc. (NASDAQ:FB) stood at $27.71 billion, beating market expectations by $313.82 million. The Normalized EPS was reported to be $1.64, missing market expectations by $0.21. While commenting on the Q3 results, The CEO said that the company is facing some short-term challenges, but he believes in the fundamentals of the company, which will help in emerging with stronger revenue growth.
177 hedge funds were long on the company’s stock at the end of the third quarter, according to Insider Monkey’s database. Fisher Asset Management had the biggest long position in the company at the end of Q3 2022.
ClearBridge Investments, an investment management company, mentioned Meta Platforms, Inc. (NASDAQ:META) in its third-quarter 2022 investor letter. Here’s what the firm said:
We initiated a new position in Meta Platforms, Inc. (NASDAQ:META), in the communication services sector, which operates the Facebook and Instagram social media platforms and is a leading digital advertising provider. We have been carefully watching the company over the last few quarters and believe headwinds from lower monetizing in Facebook and Instagram Reels and pressures from consumer privacy measures are poised to lessen. We believe the company has begun to fully acclimate to this new environment, will achieve greater effectiveness in Reels monetization and find ways to adapt to new privacy standards which will rebound advertising efficiency. Combined with a greater focus on cost control, we believe these initiatives will help contribute to further margin expansion and leave the company well-positioned moving forward.
3. Alphabet Inc. (NASDAQ:GOOGL)
Number of Hedge Fund Holders: 196
Headquartered in Mountain View, California, Alphabet Inc. (NASDAQ:GOOGL) is an American multinational conglomerate company that owns Google LLC. A majority of the company’s revenues are generated from Google through running online ads.
On November 23, 2022, Andrew Boone, an analyst at JMP Securities, reduced his price target on Alphabet Inc. (NASDAQ:GOOGL) to $132 while keeping an Outperform rating on the stock. The analyst is expecting digital advertising to recover in Q3 of next year.
As per Insider Monkey’s proprietary database, 196 hedge funds were bullish on Alphabet Inc. (NASDAQ:GOOGL), as of the end of the third quarter.
2. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 269
Amazon.com, Inc. (NASDAQ:AMZN) is an American online retailer and is among the highest-grossing e-commerce aggregators. In 2021, the company reported revenue of $386 billion and recorded almost $578 billion in online gross merchandise volume.
On December 01, 2022, John Blackledge, an analyst at Cowen, increased his price target on Amazon.com, Inc. (NASDAQ:AMZN) to $160 while keeping an Outperform rating on the stock. The analyst estimates a decrease in operating loss in 2023, which will reduce cost headwinds on the company.
According to Insider Monkey’s database, 269 hedge funds had stakes in Amazon.com, Inc. (NASDAQ:AMZN) at the end of the September quarter. Fisher Asset Management remained the leading stakeholder of the company at the end of the third quarter.
In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks, and Amazon.com, Inc. (NASDAQ:AMZN) was one of them. Here is what the fund said:
Amazon.com, Inc. (NASDAQ:AMZN) is the world’s largest retailer and cloud services, provider. Shares of Amazon declined 35% in the quarter due to weaker-than-expected profits resulting from the overcapacity of resources coming out of COVID. We expect Amazon to grow its retail capacity in the coming quarters, enabling it to improve profitability accordingly. Amazon remains one of our largest holdings due to its durable competitive advantages with a leading position in multiple trillion-dollar markets with a long runway for growth (…read more)
1. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 269
Founded in 1975, Microsoft Corporation (NASDAQ:MSFT) is an American-based multinational tech corporation. It develops and licenses software for consumers and enterprises. The company’s operations are mainly divided into three segments: productivity and business processes, intelligence cloud, and personal computing.
On October 26, 2022, Keith Bachman, an analyst at BMO Capital, reduced his price target on Microsoft Corporation (NASDAQ:MSFT) to $270 while keeping an Outperform rating on the stock. According to the analyst, the company’s Q1 results were below expectations. The analyst still believes that several segments of the company, including Microsoft Azure, LinkedIn, Dynamics, Office, and Gaming, are well positioned, and the conditions of the PC market will normalize soon.
As per Insider Monkey’s database, 269 hedge funds had stakes in Microsoft Corporation (NASDAQ:MSFT) at the end of the third quarter. Bill & Melinda Gates Foundation Trust remained the leading stakeholder in the company at the end of Q3 2022.
You can also take a look at 13 Biggest Meat Processing Companies in the US and 16 Large-Cap Stocks with Insider Buying.
