Ridgecrest Wealth Partners LLC Purchases New Holdings in Visa Inc. (NYSE:V)

Ridgecrest Wealth Partners LLC bought a new stake in Visa Inc. (NYSE:V) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 704 shares of the credit-card processor’s stock, valued at approximately $222,000.

Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC grew its position in shares of Visa by 45,189.4% in 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 acquiring an additional 9,736,958 shares in the last quarter. SG Americas Securities LLC lifted its stake in 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 worth $1,119,725,000 after purchasing an additional 4,166,905 shares during the last quarter. State Street Corp boosted its holdings in Visa by 4.5% in the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after purchasing an additional 3,327,977 shares during the period. FMR LLC increased its stake in Visa by 6.1% during the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after purchasing an additional 3,265,518 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Visa by 7.7% during the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after purchasing an additional 2,772,549 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Visa Stock Performance

V opened at $336.45 on Thursday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $337.83. The firm has a market capitalization of $626.76 billion, a P/E ratio of 34.58, a price-to-earnings-growth ratio of 2.17 and a beta of 0.96. The stock’s 50 day moving average price is $315.85 and its two-hundred day moving average price is $291.78. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the prior year, the company earned $2.33 EPS. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities analysts forecast that Visa Inc. will post 11.19 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on V shares. Barclays increased their price objective on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Macquarie upped their price objective on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Susquehanna boosted their price target on shares of Visa from $339.00 to $375.00 and gave the company a “positive” rating in a report on Wednesday, December 11th. Piper Sandler lifted their price objective on shares of Visa from $322.00 to $368.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, BMO Capital Markets lifted their price target on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $335.52.

Visa Company 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.