Surevest LLC grew its stake in Visa Inc (NYSE:V) by 5.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,450 shares of the credit-card processor’s stock after buying an additional 967 shares during the period. Visa accounts for 1.5% of Surevest LLC’s holdings, making the stock its 27th biggest position. Surevest LLC’s holdings in Visa were worth $3,689,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently bought and sold shares of V. BlackRock Inc. increased its holdings in Visa by 2.3% in the 2nd quarter. BlackRock Inc. now owns 126,278,384 shares of the credit-card processor’s stock worth $24,393,195,000 after buying an additional 2,819,598 shares during the period. Fisher Asset Management LLC raised its stake in shares of Visa by 3.2% during the 2nd quarter. Fisher Asset Management LLC now owns 20,979,235 shares of the credit-card processor’s stock valued at $4,052,559,000 after buying an additional 660,147 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Visa by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,917,898 shares of the credit-card processor’s stock valued at $3,268,029,000 after buying an additional 260,069 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Visa by 5.6% in the second quarter. Nuveen Asset Management LLC now owns 16,193,092 shares of the credit-card processor’s stock worth $3,128,020,000 after buying an additional 862,914 shares during the last quarter. Finally, Swiss National Bank grew its holdings in Visa by 0.8% during the second quarter. Swiss National Bank now owns 7,448,494 shares of the credit-card processor’s stock worth $1,438,826,000 after acquiring an additional 62,100 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.
In other news, insider Rajat Taneja sold 45,036 shares of Visa stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $210.00, for a total value of $9,457,560.00. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of Visa stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $195.00, for a total value of $1,365,000.00. Following the completion of 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. In the last ninety days, insiders have sold 118,122 shares of company stock worth $24,748,541. Corporate insiders own 0.19% of the company’s stock.
Several research firms have commented on V. Raymond James upped their price objective on Visa from $204.00 to $217.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Oppenheimer started coverage on shares of Visa in a report on Tuesday, June 23rd. They set an “outperform” rating and a $202.00 price target on the stock. Piper Sandler lifted their price objective on shares of Visa from $200.00 to $206.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. increased their target price on shares of Visa from $186.00 to $229.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. Finally, Daiwa Capital Markets restated a “neutral” rating and set a $204.00 target price on shares of Visa in a research report on Tuesday, July 21st. Six research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Visa has a consensus rating of “Buy” and an average price target of $214.72.
Shares of V stock traded up $0.71 during trading on Friday, hitting $200.26. 6,387,996 shares of the stock traded hands, compared to its average volume of 10,095,141. The firm has a market capitalization of $388.98 billion, a P/E ratio of 38.14, a price-to-earnings-growth ratio of 3.05 and a beta of 0.90. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.55. The firm’s fifty day moving average price is $203.88 and its 200-day moving average price is $191.62. Visa Inc has a 52-week low of $133.93 and a 52-week high of $217.35.
Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.05. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.37 EPS. As a group, equities research analysts expect that Visa Inc will post 5.01 earnings per share for the current year.
Visa Company Profile
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.
Featured Story: What is the CBOE Russell 2000® Volatility Index?
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc (NYSE:V).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.