Ridgewood Investments LLC Grows Position in Visa Inc. (NYSE:V)

Ridgewood Investments LLC boosted its stake in Visa Inc. (NYSE:V) by 20.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 221 shares of the credit-card processor’s stock after buying an additional 38 shares during the quarter. Ridgewood Investments LLC’s holdings in Visa were worth $77,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of V. Brighton Jones LLC grew its stake in Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after purchasing an additional 6,883 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after acquiring an additional 4,817 shares during the period. Maridea Wealth Management LLC bought a new position in shares of Visa during the 4th quarter worth $340,000. L & S Advisors Inc grew its stake in shares of Visa by 1,695.0% during the 4th quarter. L & S Advisors Inc now owns 16,514 shares of the credit-card processor’s stock worth $5,219,000 after acquiring an additional 15,594 shares during the period. Finally, American Money Management LLC grew its stake in shares of Visa by 0.4% during the 4th quarter. American Money Management LLC now owns 33,867 shares of the credit-card processor’s stock worth $10,703,000 after acquiring an additional 135 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

V has been the subject of several research reports. Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Evercore ISI initiated coverage on Visa in a research note on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price target for the company. Jefferies Financial Group increased their price target on Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Macquarie cut their price target on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group initiated coverage on Visa in a research note on Monday, June 2nd. They issued a “neutral” rating for the company. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $375.52.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the sale, the insider directly owned 26,413 shares of the company’s stock, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,108 shares of company stock valued at $36,771,200. 0.13% of the stock is currently owned by company insiders.

Visa Stock Up 0.8%

V opened at $356.93 on Monday. The company has a market cap of $658.60 billion, a P/E ratio of 35.87, a P/E/G ratio of 2.41 and a beta of 0.92. The business’s 50-day moving average price is $356.30 and its 200-day moving average price is $345.45. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12 month low of $254.51 and a 12 month high of $375.51.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.51 earnings per share. On average, equities analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is presently 23.72%.

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.