5 Best Tech Stocks For Long Term Investment

2. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 165  

Visa Inc. (NYSE:V) operates as a payments technology company worldwide. On October 20, Current, a leading US financial technology platform, announced that it has migrated to the Visa DPS Forward Platform, a digital issuer processing platform built with REST APIs and designed to integrate with modern, digital banking cores to create unique card programs and payment solutions, with seamless migration of over four million accounts. The migration underscores the relevance of the firm, one of the leading payments giants, to new businesses in an era marked with speculation around crypto and other digital assets. The firm is also a reliable dividend player with over fourteen years of history in the space. 

On December 2, Wells Fargo analyst Donald Fandetti maintained an Overweight rating on Visa Inc. (NYSE:V) stock and raised the price target to $250 from $225, noting that it is believed that the company is becoming even more entrenched in the global money movement ecosystem with their new products, making it even more difficult to disintermediate them in any meaningful way.    

At the end of the third quarter of 2022, 165 hedge funds in the database of Insider Monkey held stakes worth $22.5 billion in Visa Inc. (NYSE:V), compared to 166 in the preceding quarter worth $24 billion.

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Visa Inc. (NYSE:V) 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 Visa, Inc. (NYSE:V). 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.”