Norway Savings Bank lifted its stake in Visa Inc (NYSE:V) by 178.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 516 shares of the credit-card processor’s stock after purchasing an additional 331 shares during the quarter. Norway Savings Bank’s holdings in Visa were worth $103,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of V. APG Asset Management N.V. raised its holdings in shares of Visa by 13.4% in the 1st quarter. APG Asset Management N.V. now owns 3,027,411 shares of the credit-card processor’s stock valued at $487,776,000 after buying an additional 356,828 shares during the period. ArrowMark Colorado Holdings LLC boosted its holdings in Visa by 11.2% during the 1st quarter. ArrowMark Colorado Holdings LLC now owns 9,342 shares of the credit-card processor’s stock valued at $1,505,000 after acquiring an additional 940 shares during the period. Cramer Rosenthal Mcglynn LLC acquired a new position in Visa in the 1st quarter valued at about $551,000. Tudor Investment Corp Et Al purchased a new stake in Visa during the first quarter worth about $2,066,000. Finally, Guardian Capital LP lifted its position in shares of Visa by 9.8% during the first quarter. Guardian Capital LP now owns 11,197 shares of the credit-card processor’s stock worth $1,804,000 after purchasing an additional 998 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.
Shares of V stock opened at $200.26 on Friday. The stock’s 50-day moving average is $203.88 and its two-hundred day moving average is $191.62. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.55 and a current ratio of 1.55. Visa Inc has a 1 year low of $133.93 and a 1 year high of $217.35. The firm has a market cap of $388.98 billion, a price-to-earnings ratio of 38.14, a PEG ratio of 3.05 and a beta of 0.90.
Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. The firm had revenue of $4.84 billion for 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%. The firm’s quarterly revenue was down 18.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.37 EPS. As a group, research analysts predict that Visa Inc will post 5.01 EPS for the current year.
V has been the topic of several recent research reports. Oppenheimer initiated coverage on shares of Visa in a research note on Tuesday, June 23rd. They set an “outperform” rating and a $202.00 target price on the stock. Wedbush reaffirmed a “buy” rating and set a $220.00 price objective on shares of Visa in a research report on Monday, October 5th. Bank of America lifted their target price on Visa from $227.00 to $234.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Piper Sandler boosted their target price on Visa from $200.00 to $206.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Finally, Raymond James increased their price target on Visa from $204.00 to $217.00 and gave the company an “outperform” rating in a research report 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. Visa presently has an average rating of “Buy” and an average price target of $214.72.
In other news, Director Lloyd Carney sold 1,550 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were 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 directly owns 2,962 shares of the company’s stock, valued at $570,599.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Rajat Taneja sold 45,036 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $210.00, for a total transaction of $9,457,560.00. Insiders sold 118,122 shares of company stock valued at $24,748,541 over the last three months. Corporate 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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