Ray Dalio is Doubling Down on These 5 Stocks

3. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 162

Percentage Increase in Stake During Q3: 1,745% 

Visa Inc. (NYSE:V) operates as a payments technology firm. Securities filings show that Bridgewater Associates owned 49,925 shares in the company at the end of the third quarter of 2021 worth $11.1 million, representing 0.06% of the portfolio. 

On November 17, investment advisory UBS initiated coverage of Visa Inc. (NYSE:V) stock with a Buy rating and a price target of $275, noting that the shares were trading at an “attractive valuation” considering the leading position of the firm in mature areas. 

At the end of the second quarter of 2021, 162 hedge funds in the database of Insider Monkey held stakes worth $27 billion in Visa Inc. (NYSE:V), down from 164 in the preceding quarter worth $26 billion. 

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Visa Inc. (NYSE:V) was one of them. Here is what the fund said:

“To make room for these new names with more attractive outlooks related to the reopening, we sold out of companies where the thesis is not playing out at the pace we expected including Visa.”