First National Bank Sioux Falls lifted its stake in shares of Visa Inc (NYSE:V) by 18.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,173 shares of the credit-card processor’s stock after buying an additional 650 shares during the quarter. Visa makes up about 2.2% of First National Bank Sioux Falls’ investment portfolio, making the stock its 11th largest holding. First National Bank Sioux Falls’ holdings in Visa were worth $834,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of the stock. Ridgewood Investments LLC acquired a new position in Visa in the second quarter worth about $239,000. Wills Financial Group Inc. lifted its holdings in Visa by 3.4% during the 2nd quarter. Wills Financial Group Inc. now owns 31,441 shares of the credit-card processor’s stock worth $6,074,000 after buying an additional 1,023 shares during the last quarter. Taylor Cottrill Erickson & Associates Inc. grew its position in shares of Visa by 4.1% in the 3rd quarter. Taylor Cottrill Erickson & Associates Inc. now owns 3,160 shares of the credit-card processor’s stock worth $632,000 after acquiring an additional 125 shares in the last quarter. Whittier Trust Co. grew its position in shares of Visa by 5.0% in the 2nd quarter. Whittier Trust Co. now owns 429,246 shares of the credit-card processor’s stock worth $82,917,000 after acquiring an additional 20,413 shares in the last quarter. Finally, DNB Asset Management AS increased its holdings in shares of Visa by 98.0% in the 2nd quarter. DNB Asset Management AS now owns 605,889 shares of the credit-card processor’s stock valued at $117,040,000 after acquiring an additional 299,941 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.
V has been the subject of a number of research reports. Morgan Stanley lifted their price objective on shares of Visa from $196.00 to $203.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Daiwa Capital Markets reaffirmed a “neutral” rating and issued a $204.00 price target on shares of Visa in a report on Tuesday, July 21st. Wedbush reaffirmed a “buy” rating and set a $220.00 price objective on shares of Visa in a research report on Monday, October 5th. Oppenheimer assumed coverage on shares of Visa in a report on Tuesday, June 23rd. They issued an “outperform” rating and a $202.00 target price on the stock. Finally, Piper Sandler lifted their target price on Visa from $200.00 to $206.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Six research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $214.72.
NYSE V opened at $200.26 on Friday. Visa Inc has a 12 month low of $133.93 and a 12 month high of $217.35. The firm has a market capitalization of $388.98 billion, a PE ratio of 38.14, a P/E/G ratio of 3.05 and a beta of 0.90. The company’s 50 day simple moving average is $203.88 and its 200 day simple moving average is $191.62. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.55.
Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. Visa had a return on equity of 40.65% and a net margin of 51.37%. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same period last year, the company posted $1.37 EPS. The firm’s quarterly revenue was down 18.6% on a year-over-year basis. Sell-side analysts anticipate that Visa Inc will post 5.01 earnings per share for the current fiscal year.
In related news, Director Lloyd Carney sold 1,550 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $192.64, for a total value of $298,592.00. Following the sale, the director now directly owns 2,962 shares in the company, valued at approximately $570,599.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $195.00, for a total transaction of $1,365,000.00. Following the sale, the chief executive officer now directly owns 130,090 shares of the company’s stock, valued at $25,367,550. The disclosure for this sale can be found here. Insiders have sold 118,122 shares of company stock valued at $24,748,541 in the last ninety days. Company insiders own 0.19% of the company’s stock.
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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