5 Finance and Investment Stocks to Buy Today According to Israel Englander’s Millennium Management

3. Visa Inc. (NYSE:V)

Millennium Management’s Stake Value: $302 million

Percentage of Millennium Management’s 13F Portfolio: 0.15%

Number of Hedge Fund Holders: 142

Visa Inc. (NYSE:V) is an American payments firm that is headquartered in San Francisco, California, United States. Its payments platform is one of the most well known in the world, and it allows customers and merchants to authorize, clear, and settle their payments.

For its fiscal Q1, Visa Inc. (NYSE:V) reported $7 billion in revenue and $1.81 in non-GAAP EPS, for a strong set of results that beat Wall Street analyst estimates for both. Barclays reduced its price target to $260 from $265 in April 2022 and kept an Overweight rating on the shares.

Mr. Englander’s hedge fund owned 1.3 million Visa Inc. (NYSE:V)  shares that were worth $302 million and represented 0.15% of its investment portfolio by the end of the fourth quarter of last year. During the same time period, 142 of the 924 hedge funds polled by Insider Monkey had invested in the firm.

Visa Inc. (NYSE:V)’s largest investor is Chris Hohn’s TCI Fund Management which owns 23 million shares that are worth $5 billion.

Wedgewood Partners mentioned the company in its first quarter 2021 investor letter and outlined that:

“Visa continued to benefit from strong consumer spending as well as a recovery in crossborder payment volumes, more recently driven by the return of travelers. While the emergence of the “Omicron” variant of COVID early in the quarter posed a risk to this travel recovery, it proved short-lived, with most of Europe, North America, and Latin American reengaging in cross-border travel. Visa continues to extend its network to all comers. By processing over $10 trillion in volume per year, Visa has unparallel scale and, as a result, can sell this scale to its customers at very attractive economics. For example, “FinTech” businesses will often charge customers upwards of 3-5% to transact, while Visa takes mere basis points on most transactions, despite enabling service levels historically reserved for only the largest financial institutions. After adding to Visa late last year, we are most pleased that Visa is back to one of our top 5 holdings.”