Aletheian Wealth Advisors LLC lowered its stake in shares of Visa Inc. (NYSE:V – Free Report) by 59.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,507 shares of the credit-card processor’s stock after selling 2,197 shares during the period. Aletheian Wealth Advisors LLC’s holdings in Visa were worth $414,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. WFA Asset Management Corp increased its holdings in Visa by 4.6% in the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock valued at $632,000 after buying an additional 100 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in shares of Visa by 1.1% in the 1st quarter. Valeo Financial Advisors LLC now owns 60,371 shares of the credit-card processor’s stock valued at $16,848,000 after purchasing an additional 655 shares in the last quarter. KFG Wealth Management LLC raised its holdings in Visa by 13.2% in the 1st quarter. KFG Wealth Management LLC now owns 949 shares of the credit-card processor’s stock worth $265,000 after purchasing an additional 111 shares during the period. Leeward Financial Partners LLC boosted its position in Visa by 5.7% during the first quarter. Leeward Financial Partners LLC now owns 13,782 shares of the credit-card processor’s stock worth $3,846,000 after purchasing an additional 739 shares in the last quarter. Finally, Redmont Wealth Advisors LLC acquired a new stake in Visa in the first quarter valued at approximately $103,000. Institutional investors and hedge funds own 82.15% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on V. Citigroup upped their target price on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research note on Wednesday. Bank of America increased their price objective on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Susquehanna boosted their target price on shares of Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a research note on Wednesday. Jefferies Financial Group raised their price target on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, BMO Capital Markets boosted their price objective on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $320.07.
Visa Stock Up 2.9 %
Shares of NYSE V opened at $290.16 on Thursday. The company has a market capitalization of $530.68 billion, a P/E ratio of 32.42, a P/E/G ratio of 1.95 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a 50 day simple moving average of $280.09 and a 200-day simple moving average of $273.38. Visa Inc. has a 1 year low of $232.99 and a 1 year high of $295.78.
Visa (NYSE:V – Get Free Report) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter last year, the firm earned $2.33 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities research analysts predict that Visa Inc. will post 9.92 earnings per share for the current year.
Insider Buying and Selling
In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.
Visa Company Profile
Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.
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