Eagle Ridge Investment Management increased its stake in Visa Inc. (NYSE:V – Free Report) 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.
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.
Check Out Our Latest Report on Visa
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.
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