Chemical Bank grew its position in shares of Visa Inc (NYSE:V) by 9.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,783 shares of the credit-card processor’s stock after acquiring an additional 2,700 shares during the quarter. Chemical Bank’s holdings in Visa were worth $4,210,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Cascade Investment Advisors Inc. bought a new stake in shares of Visa during the 2nd quarter worth approximately $132,000. Signature Estate & Investment Advisors LLC raised its stake in shares of Visa by 36.8% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 1,357 shares of the credit-card processor’s stock worth $180,000 after purchasing an additional 365 shares in the last quarter. Quad Cities Investment Group LLC bought a new stake in shares of Visa during the 2nd quarter worth approximately $186,000. Landaas & Co. WI ADV bought a new stake in shares of Visa during the 2nd quarter worth approximately $189,000. Finally, Kiley Juergens Wealth Management LLC bought a new stake in shares of Visa during the 2nd quarter worth approximately $191,000. 80.18% of the stock is owned by hedge funds and other institutional investors.
V opened at $140.06 on Friday. The firm has a market cap of $305.32 billion, a PE ratio of 40.25, a P/E/G ratio of 1.86 and a beta of 1.06. Visa Inc has a 52-week low of $106.60 and a 52-week high of $151.56. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.60.
Visa (NYSE:V) last released its quarterly earnings data on Wednesday, July 25th. The credit-card processor reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.11. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.09 billion. Visa had a return on equity of 36.09% and a net margin of 47.91%. Visa’s revenue was up 14.8% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. Equities analysts forecast that Visa Inc will post 4.59 earnings per share for the current year.
V has been the topic of a number of analyst reports. Morgan Stanley upgraded Visa to an “overweight” rating in a research note on Monday, July 23rd. Royal Bank of Canada upped their price objective on Visa to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 5th. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $168.00 price objective on the stock in a research note on Tuesday, September 25th. Wells Fargo & Co increased their price target on Visa from $161.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, October 1st. Finally, Wolfe Research assumed coverage on Visa in a research note on Tuesday, July 17th. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $153.97.
In other Visa news, CFO Vasant M. Prabhu sold 25,064 shares of the stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $140.56, for a total value of $3,522,995.84. Following the completion of the transaction, the chief financial officer now directly owns 58,232 shares in the company, valued at $8,185,089.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James H. Hoffmeister sold 6,912 shares of the stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $140.01, for a total value of $967,749.12. Following the completion of the transaction, the senior vice president now owns 6,912 shares of the company’s stock, valued at $967,749.12. The disclosure for this sale can be found here. Company insiders own 0.14% 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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