Warren Buffett and his team at Berkshire Hathaway (BRK.A 1.32%) (BRK.B 1.16%) have solidified their reputation as some of the greatest investors ever. Admittedly, their value-investing style differs from my growth preference, but there is some overlap between their portfolio and mine, including the following two stocks that look like great purchases right now.

Similar models but different focuses

The two Buffett stocks I think look attractive are Visa (V 0.13%) and Mastercard (MA 0.85%). Both credit card issuers fit what Buffett looks for in companies: a consistent, utility-like revenue stream. In essence, that's what these two have become: ultra-high-margin utility companies.

Both companies make money by taking a small fraction of each payment they process for their clients. 

Both are also relatively easy to understand, which checks another Buffett investing box.

As for the makeup of each business, Visa and Mastercard have slightly different focuses. Visa is the king domestically, processing about $1.57 trillion in payments during the third quarter of 2023 versus Mastercard's $717 billion in the second quarter. Internationally, Visa processes about the same volume as it does in the U.S.: $1.59 trillion. However, Mastercard is nipping at Visa's heels for international dominance, as its volume was $1.55 trillion.

So if you're bullish on international growth and the rise of the middle class outside of the U.S., Mastercard might be your stock. If you want a balanced approach, Visa makes for a better investment.

But why are they great buys now?

Pricey, but worth it

In the latest quarter, both Visa and Mastercard put up solid results, increasing net revenue by 12% and 14%, respectively.  Visa's earnings per share (EPS) rose 25% and Mastercard's increased 28%.

Both of those reports were strong and showed that Visa and Mastercard are two of the most consistent performers in the market. Many investors would be best suited by following another principle of Buffett's style: opening a position and not touching it for years.

Something that isn't entirely on par with Buffett's usual investing style is the price tags of these two. From a price-to-earnings (P/E) perspective, each stock looks quite expensive.

V PE Ratio Chart

Data source: YCharts.

But you have to pay up for the best companies in the market. Visa and Mastercard are both extraordinarily consistent and have a firm grasp on the payments-card sector. With that dominance comes an increased price tag.

Fortunately, each is trading below its decade-long average right now. And the forward P/E (which factors in next year's earnings) for each is much lower than the trailing one, which indicates strong earnings growth ahead.

So which is the better buy? I'd say: Why not invest in both? Visa and Mastercard have slightly different focuses and reasons for owning them. However, each looks attractively priced and has the Buffett seal of approval. If you have $1,000 available to invest, both stocks are great places to deploy that capital.