Toth Financial Advisory Corp raised its stake in Visa Inc (NYSE:V) by 10.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 37,563 shares of the credit-card processor’s stock after buying an additional 3,454 shares during the quarter. Visa comprises approximately 1.4% of Toth Financial Advisory Corp’s investment portfolio, making the stock its 16th biggest holding. Toth Financial Advisory Corp’s holdings in Visa were worth $7,511,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Wallington Asset Management LLC lifted its position in shares of Visa by 3.6% in the third quarter. Wallington Asset Management LLC now owns 96,632 shares of the credit-card processor’s stock worth $19,324,000 after purchasing an additional 3,340 shares in the last quarter. Atlantic Union Bankshares Corp lifted its position in shares of Visa by 2.6% in the third quarter. Atlantic Union Bankshares Corp now owns 8,863 shares of the credit-card processor’s stock worth $1,773,000 after purchasing an additional 223 shares in the last quarter. IFM Investors Pty Ltd lifted its position in shares of Visa by 11.6% in the third quarter. IFM Investors Pty Ltd now owns 140,393 shares of the credit-card processor’s stock worth $28,074,000 after purchasing an additional 14,542 shares in the last quarter. Surevest LLC lifted its position in shares of Visa by 5.5% in the third quarter. Surevest LLC now owns 18,450 shares of the credit-card processor’s stock worth $3,689,000 after purchasing an additional 967 shares in the last quarter. Finally, Sanders Morris Harris LLC lifted its position in shares of Visa by 619.6% in the third quarter. Sanders Morris Harris LLC now owns 25,237 shares of the credit-card processor’s stock worth $5,132,000 after purchasing an additional 21,730 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on the stock. Jefferies Financial Group boosted their price objective on shares of Visa from $185.00 to $205.00 and gave the stock a “hold” rating in a research report on Friday, October 2nd. Wells Fargo & Company boosted their price objective on shares of Visa from $205.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Royal Bank of Canada reaffirmed a “buy” rating and set a $243.00 price target on shares of Visa in a research report on Sunday, October 11th. Wedbush reaffirmed a “buy” rating and set a $220.00 price target on shares of Visa in a research report on Monday, October 5th. Finally, JPMorgan Chase & Co. upped their price target on shares of Visa from $186.00 to $229.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. Six research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Visa currently has a consensus rating of “Buy” and an average price target of $214.72.
Shares of V stock traded up $0.71 on Friday, hitting $200.26. The company’s stock had a trading volume of 6,387,996 shares, compared to its average volume of 10,095,141. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.55 and a current ratio of 1.55. The stock’s 50 day moving average is $203.88 and its 200-day moving average is $191.62. Visa Inc has a fifty-two week low of $133.93 and a fifty-two week high of $217.35. The company 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 announced its quarterly earnings data 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 net margin of 51.37% and a return on equity of 40.65%. The business’s revenue for the quarter was down 18.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.37 earnings per share. On average, research analysts forecast that Visa Inc will post 5.01 earnings per share for the current year.
In other news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $200.82, for a total value of $1,405,740.00. Following the completion of the transaction, the chief executive officer now owns 124,090 shares of the company’s stock, valued at $24,919,753.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lloyd Carney sold 1,550 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Insiders have sold 118,122 shares of company stock worth $24,748,541 over the last quarter. 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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