Yahoo Finance Should You Expect Attractive Growth for Visa (V)?
Wedgewood Partners, an investment management company, released its first quarter 2024 investor letter. A copy of the letter can be downloaded here. In the first quarter, Wedgewood Composite’s net return was 11.5% compared to the Standard & Poor’s 10.6%, Russell 1000 Growth Index’s 11.4%, and Russell 1000 Value Index’s 9.0% return for the same period. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Wedgewood Partners featured stocks like Visa Inc. (NYSE:V) in the first 2024 investor letter. Headquartered in San Francisco, California, Visa Inc. (NYSE:V) is a payment technology company. On April 16, 2024, Visa Inc. (NYSE:V) stock closed at $271.35 per share. One-month return of Visa Inc. (NYSE:V) was -6.20%, and its shares gained 16.67% of their value over the last 52 weeks. Visa Inc. (NYSE:V) has a market capitalization of $557.372 billion.
Wedgewood Partners stated the following regarding Visa Inc. (NYSE:V) in its first quarter 2024 investor letter:
"Visa Inc. (NYSE:V) stock posted a small negative drop during the quarter. In the first quarter, the Company grew earnings per share +11% as payment volume growth was up +8% and cross-border payment grew a solid +16%, adjusted for currency. Beyond their consistent growth and execution, recent regulatory trends have caught considerable investor attention. The Company's networks and value-added services drive enough economic value to bank customers and retailers that the addressable market for payments should continue growing at a healthy rate for many more years, regardless of recent regulatory changes. Visa's value-added services can be extended to less-sophisticated, emerging non-Visa networks to help grow the overall payment ecosystem that make up the vast global payment addressable market. For example, not long after debit interchange rates were regulated last decade, Visa began an aggressive push to allow non-bank 2inancial institutions access to Visa's networks, which helped drive more interchange volume to banks and offset lower interchange rates. This was a key element that spawned the massive "Fintech" industry that exists today. We continue to expect Visa's scale and breadth of service offerings will help them drive attractive growth at stellar margins along with the overall payments’ ecosystem."
A close-up of a credit card being swiped on a payment terminal, reflecting the company's payments technology.
Visa Inc. (NYSE:V) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Visa Inc. (NYSE:V) was held by 162 hedge fund portfolios, compared to 167 in the previous quarter, according to our database.
We previously discussed Visa Inc. (NYSE:V) in another article, where we shared Warren Buffett’s portfolio and the longest held stocks. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
