Visa Inc. (NYSE:V) Shares Bought by Eagle Ridge Investment Management

Eagle Ridge Investment Management increased its stake in Visa Inc. (NYSE:V) by 0.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,625 shares of the credit-card processor’s stock after acquiring an additional 310 shares during the quarter. Visa makes up 1.8% of Eagle Ridge Investment Management’s holdings, making the stock its 22nd largest holding. Eagle Ridge Investment Management’s holdings in Visa were worth $20,518,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of V. International Assets Investment Management LLC grew its position in Visa by 45,189.4% during the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after purchasing an additional 9,736,958 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Visa by 4,412.3% during the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after buying an additional 4,166,905 shares in the last quarter. National Bank of Canada FI raised its position in Visa by 787.1% during the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after buying an additional 4,099,122 shares during the period. Swedbank AB purchased a new stake in Visa in the 1st quarter worth about $511,321,000. Finally, GQG Partners LLC boosted its position in Visa by 40.1% during the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after acquiring an additional 1,715,686 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Down 0.5 %

Shares of V stock opened at $281.73 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 1 year low of $228.03 and a 1 year high of $293.07. The firm’s fifty day simple moving average is $278.73 and its 200 day simple moving average is $273.17. The firm has a market capitalization of $515.27 billion, a P/E ratio of 31.48, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter last year, the company earned $2.16 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts predict that Visa Inc. will post 9.92 EPS for the current year.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on V shares. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a research report on Tuesday, September 3rd. Macquarie reiterated an “outperform” rating and issued a $300.00 target price on shares of Visa in a research report on Friday, September 27th. Bank of America boosted their price target on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. TD Cowen cut their price objective on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Royal Bank of Canada dropped their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $314.19.

Visa Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.