Biltmore Wealth Management LLC lessened its stake in Visa Inc (NYSE:V) by 8.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,979 shares of the credit-card processor’s stock after selling 184 shares during the quarter. Biltmore Wealth Management LLC’s holdings in Visa were worth $372,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of V. Selective Wealth Management Inc. bought a new position in shares of Visa during the third quarter worth approximately $47,000. Investors Research Corp increased its stake in shares of Visa by 40.2% in the 3rd quarter. Investors Research Corp now owns 279 shares of the credit-card processor’s stock valued at $48,000 after purchasing an additional 80 shares during the last quarter. Price Capital Management Inc. acquired a new position in Visa during the fourth quarter worth about $57,000. NewSquare Capital LLC increased its position in Visa by 29.2% during the 3rd quarter. NewSquare Capital LLC now owns 310 shares of the credit-card processor’s stock worth $53,000 after purchasing an additional 70 shares in the last quarter. Finally, JJJ Advisors Inc. increased its holdings in shares of Visa by 203.4% during the third quarter. JJJ Advisors Inc. now owns 358 shares of the credit-card processor’s stock worth $62,000 after buying an additional 240 shares in the last quarter. 81.08% of the stock is owned by institutional investors.
Shares of NYSE V traded up $1.33 during midday trading on Friday, reaching $202.28. The stock had a trading volume of 2,715,306 shares, compared to its average volume of 7,776,800. The company’s 50 day moving average price is $187.66 and its 200 day moving average price is $180.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.56 and a current ratio of 1.56. Visa Inc has a twelve month low of $133.30 and a twelve month high of $201.50. The firm has a market cap of $386.09 billion, a price-to-earnings ratio of 37.18, a price-to-earnings-growth ratio of 2.04 and a beta of 0.93.
Visa (NYSE:V) last posted its quarterly earnings data on Thursday, October 24th. The credit-card processor reported $1.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.04. Visa had a net margin of 52.57% and a return on equity of 42.57%. The company had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $6.08 billion. During the same period in the prior year, the company posted $1.21 earnings per share. Visa’s revenue for the quarter was up 12.9% compared to the same quarter last year. Equities analysts forecast that Visa Inc will post 6.2 earnings per share for the current fiscal year.
In other news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of Visa stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $177.79, for a total value of $1,244,530.00. Following the completion of the sale, the chief executive officer now owns 55,446 shares in the company, valued at approximately $9,857,744.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William M. Sheedy sold 3,110 shares of Visa stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $182.52, for a total transaction of $567,637.20. Following the completion of the sale, the executive vice president now owns 227,740 shares of the company’s stock, valued at approximately $41,567,104.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,480 shares of company stock valued at $10,606,182. Company insiders own 0.17% of the company’s stock.
A number of brokerages have recently commented on V. BMO Capital Markets cut their price target on Visa from $239.00 to $232.00 and set an “outperform” rating on the stock in a research note on Wednesday. Wedbush upped their price objective on Visa from $195.00 to $215.00 and gave the company an “outperform” rating in a research note on Tuesday. William Blair reiterated an “outperform” rating on shares of Visa in a research report on Tuesday. Wells Fargo & Co lifted their target price on shares of Visa from $200.00 to $213.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Oppenheimer boosted their target price on shares of Visa from $202.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday. Three 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 a consensus target price of $204.92.
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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