NorthCrest Asset Manangement LLC Buys 705 Shares of Visa Inc. (NYSE:V)

NorthCrest Asset Manangement LLC grew its stake in shares of Visa Inc. (NYSE:V) by 1.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,901 shares of the credit-card processor’s stock after purchasing an additional 705 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Visa were worth $10,421,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arkadios Wealth Advisors raised its holdings in shares of Visa by 12.0% in the 3rd quarter. Arkadios Wealth Advisors now owns 18,432 shares of the credit-card processor’s stock valued at $5,068,000 after purchasing an additional 1,970 shares during the period. Forsta AP Fonden raised its stake in Visa by 8.7% in the third quarter. Forsta AP Fonden now owns 437,486 shares of the credit-card processor’s stock valued at $120,287,000 after buying an additional 35,100 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Visa by 5.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 384,710 shares of the credit-card processor’s stock valued at $105,860,000 after buying an additional 18,389 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Visa by 5.5% in the third quarter. Louisiana State Employees Retirement System now owns 94,000 shares of the credit-card processor’s stock valued at $25,845,000 after buying an additional 4,900 shares during the last quarter. Finally, Lyell Wealth Management LP boosted its stake in shares of Visa by 4.8% during the 3rd quarter. Lyell Wealth Management LP now owns 48,074 shares of the credit-card processor’s stock worth $13,218,000 after acquiring an additional 2,192 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Performance

NYSE V opened at $281.73 on Monday. The firm’s 50 day simple moving average is $279.02 and its 200 day simple moving average is $273.16. The firm has a market capitalization of $515.27 billion, a price-to-earnings ratio of 31.48, a P/E/G ratio of 1.96 and a beta of 0.96. 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Piper Sandler reduced their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Morgan Stanley reissued an “overweight” rating and issued a $322.00 price target on shares of Visa in a report on Wednesday, September 25th. Robert W. Baird boosted their price objective on Visa from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa presently has a consensus 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.