5 Blue Chip Stocks to Buy According to Billionaire Steve Cohen

1. Visa Inc. (NYSE:V)

Point72 Asset Management’s Stake Value: $273,025,000

Percentage of Point72 Asset Management’s 13F Portfolio: 1.15%

Number of Hedge Fund Holders: 166

Visa Inc. (NYSE:V) is a leading digital payments company facilitating transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories. It had more than 3.8 billion cards in issuance, as of December 31, 2021.

Steve Cohen’s Point72 Asset Management owns 1,386,686 shares of Visa Inc. (NYSE:V), accounting for 1.15% of its 13F portfolio. The hedge fund increased its stake by 50% in Q2 2022, as compared to the previous quarter.

In July, Visa Inc. (NYSE:V) released its financial results for the quarter ended June 30, 2022. Its net revenues increased by 19% y-o-y to $7.3 billion, while its net income increased by 32% y-o-y to $3.4 billion, for the three months. It reported a normalized EPS of $1.98 for the quarter, beating the consensus by $0.23. Visa Inc. (NYSE:V) also declared a quarterly cash dividend of $0.375 per share.

As of Q2 2022, Visa Inc. (NYSE:V) is among the favorites of hedge funds, with 166 of the 895 hedge funds tracked by Insider Monkey holding its shares valued at $24.1 billion. TCI Fund Management was the largest shareholder owning 19.9 million shares valued at $3.9 billion.

You can also read 10 Best-Performing S&P 500 Stocks in the Last 10 Years and Top 10 Stock Picks of Henrik Rhenman’s Rhenman Partners

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