Allred Capital Management LLC raised its holdings in Visa Inc (NYSE:V) by 14.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,264 shares of the credit-card processor’s stock after buying an additional 524 shares during the quarter. Allred Capital Management LLC’s holdings in Visa were worth $852,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new stake in Visa in the second quarter valued at about $239,000. Wills Financial Group Inc. raised its stake in Visa by 3.4% in the second quarter. Wills Financial Group Inc. now owns 31,441 shares of the credit-card processor’s stock valued at $6,074,000 after buying an additional 1,023 shares during the last quarter. Taylor Cottrill Erickson & Associates Inc. increased its holdings in shares of Visa by 4.1% in the third quarter. Taylor Cottrill Erickson & Associates Inc. now owns 3,160 shares of the credit-card processor’s stock valued at $632,000 after purchasing an additional 125 shares during the period. Whittier Trust Co. increased its holdings in shares of Visa by 5.0% in the second quarter. Whittier Trust Co. now owns 429,246 shares of the credit-card processor’s stock valued at $82,917,000 after purchasing an additional 20,413 shares during the period. Finally, DNB Asset Management AS increased its holdings in shares of Visa by 98.0% in the second quarter. DNB Asset Management AS now owns 605,889 shares of the credit-card processor’s stock valued at $117,040,000 after purchasing an additional 299,941 shares during the period. Institutional investors own 80.74% of the company’s stock.
In related news, Director Lloyd Carney sold 1,550 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $192.64, for a total transaction of $298,592.00. Following the completion of the transaction, the director now directly owns 2,962 shares of the company’s stock, valued at approximately $570,599.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rajat Taneja sold 45,036 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $210.00, for a total value of $9,457,560.00. Insiders sold 118,122 shares of company stock valued at $24,748,541 over the last ninety days. Insiders own 0.19% of the company’s stock.
A number of brokerages have recently weighed in on V. Raymond James increased their price objective on Visa from $204.00 to $217.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. increased their price objective on Visa from $186.00 to $229.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Oppenheimer began coverage on Visa in a report on Tuesday, June 23rd. They issued an “outperform” rating and a $202.00 price objective on the stock. Bank of America increased their price objective on Visa from $227.00 to $234.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Finally, KeyCorp increased their price objective on Visa from $215.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, September 21st. Six investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $214.72.
Shares of NYSE V opened at $200.26 on Friday. Visa Inc has a twelve month low of $133.93 and a twelve month high of $217.35. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.59. The stock has a fifty day simple moving average of $203.88 and a 200-day simple moving average of $191.62. The stock has a market capitalization of $388.98 billion, a PE ratio of 38.14, a PEG ratio of 3.05 and a beta of 0.90.
Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. Visa had a return on equity of 40.65% and a net margin of 51.37%. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same period in the previous year, the firm posted $1.37 earnings per share. The company’s revenue was down 18.6% on a year-over-year basis. On average, equities analysts predict that Visa Inc will post 5.01 earnings per share for the current year.
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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