During the second quarter, SSA Swiss Advisors AG reduced its investment in Visa Inc. (NYSE:V) by 12.8%, according to a recent filing with the Securities and Exchange Commission. Following the transaction, the fund holds 10,689 shares, a decrease of 1,570 shares, with Visa representing 1.8% of its investment portfolio, making it the 20th largest holding. As of the end of this quarter, SSA’s holdings in Visa were valued at $3,782,000.
In addition to SSA Swiss Advisors AG, several other hedge funds have adjusted their stakes in Visa. Keystone Global Partners LLC, for instance, initiated a new position worth roughly $26,000 in the first quarter, followed by von Borstel & Associates Inc. at about $27,000. Family Legacy Financial Solutions LLC, Harbor Asset Planning Inc., and Cranbrook Wealth Management LLC also established new positions, increasing their investments during the quarter. Notably, Cranbrook Wealth Management LLC raised its stake in Visa by 82.0%, now owning 91 shares worth approximately $32,000. Collectively, hedge funds and institutional investors hold 82.15% of Visa’s stock.
Insider transactions have also been notable at Visa. General Counsel Julie B. Rottenberg sold 2,027 shares on August 18, reflecting a 14.53% reduction in her holdings. The transaction amounted to $697,328.54 at an average price of $344.02 per share. Similarly, CEO Ryan McInerney sold 10,485 shares on October 1, marking a significant 95.13% decrease in his ownership, with a total value of $3,589,015.50.
Analysts have shown a mix of ratings for Visa, with Erste Group Bank recently downgrading the stock from “buy” to “hold.” Meanwhile, firms like Oppenheimer and Macquarie have raised their target prices for Visa, reflecting positive outlooks. Citigroup upgraded Visa to a “strong-buy” rating, and the stock currently has a consensus rating of “Moderate Buy,” with an average price target of $392.75.
As of Tuesday, Visa’s stock opened at $347.71. The stock is performing steadily, with a 50-day moving average of $344.89 and a 200-day moving average of $348.09. The company enjoys a strong market presence with a market capitalization of $637.28 billion and boasts impressive financial metrics, including a one-year revenue growth of 14.3%.
Visa Inc. operates globally, providing a range of payment technology solutions, including its renowned VisaNet transaction processing network, which facilitates secure payment transactions. The company’s diverse offerings and robust financial performance underline its important role in the financial landscape, balancing both traditional payment methods and emerging digital solutions.
Overall, Visa continues to demonstrate resilience and growth potential, making it a noteworthy entity in the competitive payment technology sector.