Allred Capital Management LLC raised its holdings in Visa Inc (NYSE:V) by 14.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,264 shares of the credit-card processor’s stock after purchasing an additional 524 shares during the quarter. Allred Capital Management LLC’s holdings in Visa were worth $852,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. BlackRock Inc. raised its position in Visa by 2.3% in the second quarter. BlackRock Inc. now owns 126,278,384 shares of the credit-card processor’s stock valued at $24,393,195,000 after purchasing an additional 2,819,598 shares during the period. Capital International Investors raised its position in Visa by 6.1% in the first quarter. Capital International Investors now owns 21,881,462 shares of the credit-card processor’s stock valued at $3,525,557,000 after purchasing an additional 1,250,002 shares during the period. Fisher Asset Management LLC raised its position in Visa by 3.2% in the second quarter. Fisher Asset Management LLC now owns 20,979,235 shares of the credit-card processor’s stock valued at $4,052,559,000 after purchasing an additional 660,147 shares during the period. Bank of New York Mellon Corp raised its position in Visa by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 16,917,898 shares of the credit-card processor’s stock valued at $3,268,029,000 after purchasing an additional 260,069 shares during the period. Finally, Nuveen Asset Management LLC raised its position in Visa by 5.6% in the second quarter. Nuveen Asset Management LLC now owns 16,193,092 shares of the credit-card processor’s stock valued at $3,128,020,000 after purchasing an additional 862,914 shares during the period. Institutional investors own 80.74% of the company’s stock.
A number of equities research analysts have recently weighed in on V shares. KeyCorp lifted their price objective on Visa from $215.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, September 21st. Bank of America lifted their price objective on Visa from $227.00 to $234.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Piper Sandler lifted their price objective on Visa from $200.00 to $206.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Daiwa Capital Markets reaffirmed a “neutral” rating and issued a $204.00 price objective on shares of Visa in a research note on Tuesday, July 21st. Finally, Wedbush reaffirmed a “buy” rating and issued a $220.00 price objective on shares of Visa in a research note on Monday, October 5th. Six investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $214.72.
Shares of NYSE V opened at $200.26 on Friday. The company has a market capitalization of $388.98 billion, a price-to-earnings ratio of 38.14, a price-to-earnings-growth ratio of 3.05 and a beta of 0.90. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.55. The business has a 50-day moving average of $203.88 and a two-hundred day moving average of $191.62. Visa Inc has a 1 year low of $133.93 and a 1 year high of $217.35.
Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.05. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.85 billion. Visa had a return on equity of 40.65% and a net margin of 51.37%. Visa’s revenue for the quarter was down 18.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.37 EPS. As a group, equities research analysts expect that Visa Inc will post 5.01 earnings per share for the current year.
In related news, insider Rajat Taneja sold 45,036 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $210.00, for a total value of $9,457,560.00. Also, Director Lloyd Carney sold 1,550 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $192.64, for a total value of $298,592.00. Following the completion of the sale, the director now owns 2,962 shares in the company, valued at approximately $570,599.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,122 shares of company stock valued at $24,748,541. 0.19% of the stock is owned by company insiders.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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