Visa Inc. (NYSE:V) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Shares of Visa have outperformed the industry, year to date. Numerous strategic acquisitions and alliances, technology upgrades and effective marketing have paved the way for the company's long-term growth. Visa is well poised to gain from the growing electronic payment processing and strong international business. A solid balance sheet position ensures effective capital deployment. The stock has seen the Zacks Consensus Estimate for current-year earnings being revised 1.8% upward over the last 60 days. However, higher client incentives and forex volatility are some near term headwinds”

A number of other research analysts have also weighed in on V. Vetr raised shares of Visa from a “hold” rating to a “buy” rating and set a $100.12 price target on the stock in a research report on Tuesday, June 27th. Instinet raised their price target on shares of Visa from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Wells Fargo & Company reissued a “market perform” rating and set a $100.00 price target (up from $87.50) on shares of Visa in a research report on Saturday, July 22nd. Citigroup Inc. reissued a “buy” rating and set a $115.00 price target (up from $100.00) on shares of Visa in a research report on Monday, July 24th. Finally, BidaskClub lowered shares of Visa from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Three analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. Visa has a consensus rating of “Buy” and an average price target of $111.86.

Shares of Visa (NYSE V) traded up 0.721% during midday trading on Tuesday, hitting $108.305. 5,396,959 shares of the stock were exchanged. The firm’s 50 day moving average is $105.86 and its 200-day moving average is $98.51. The stock has a market capitalization of $247.63 billion, a price-to-earnings ratio of 40.277 and a beta of 0.94. Visa has a 1-year low of $75.17 and a 1-year high of $109.26.

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In other Visa news, Director Mary B. Cranston sold 10,400 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $103.32, for a total value of $1,074,528.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the completion of the transaction, the executive vice president now directly owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Lombard Odier Transatlantic Limited Partnership boosted its stake in shares of Visa by 57.5% in the 3rd quarter. Lombard Odier Transatlantic Limited Partnership now owns 1,260 shares of the credit-card processor’s stock valued at $104,000 after purchasing an additional 460 shares in the last quarter. Mercer Capital Advisers Inc. boosted its stake in shares of Visa by 2.2% in the 1st quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock valued at $104,000 after purchasing an additional 25 shares in the last quarter. Cordasco Financial Network purchased a new stake in shares of Visa in the 3rd quarter valued at $105,000. Motco boosted its stake in shares of Visa by 25.1% in the 2nd quarter. Motco now owns 1,176 shares of the credit-card processor’s stock valued at $110,000 after purchasing an additional 236 shares in the last quarter. Finally, Iowa State Bank purchased a new stake in shares of Visa in the 2nd quarter valued at $111,000. 81.69% of the stock is owned by institutional investors and hedge funds.

About Visa

Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.

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