Altium Wealth Management LLC lifted its holdings in Visa Inc (NYSE:V) by 3.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,163 shares of the credit-card processor’s stock after purchasing an additional 551 shares during the period. Altium Wealth Management LLC’s holdings in Visa were worth $2,849,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Nuveen Asset Management LLC lifted its stake in Visa by 3,715.7% in the second quarter. Nuveen Asset Management LLC now owns 16,291,965 shares of the credit-card processor’s stock worth $2,827,471,000 after acquiring an additional 15,864,991 shares during the last quarter. Johanson Financial Advisors Inc. lifted its position in shares of Visa by 18,464.0% during the 4th quarter. Johanson Financial Advisors Inc. now owns 5,185,286 shares of the credit-card processor’s stock worth $27,592,000 after buying an additional 5,157,354 shares during the last quarter. BlackRock Inc. lifted its position in shares of Visa by 2.3% during the 2nd quarter. BlackRock Inc. now owns 123,791,138 shares of the credit-card processor’s stock worth $21,483,952,000 after buying an additional 2,773,330 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Visa during the 2nd quarter worth approximately $178,205,000. Finally, California Public Employees Retirement System increased its holdings in shares of Visa by 14.2% in the 3rd quarter. California Public Employees Retirement System now owns 6,306,099 shares of the credit-card processor’s stock valued at $1,084,712,000 after acquiring an additional 783,989 shares during the period. Hedge funds and other institutional investors own 81.08% of the company’s stock.
In related news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $189.31, for a total value of $1,325,170.00. Following the sale, the chief executive officer now directly owns 150,514 shares in the company, valued at approximately $28,493,805.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP William M. Sheedy sold 21,164 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $178.71, for a total transaction of $3,782,218.44. Following the completion of the sale, the executive vice president now owns 227,126 shares in the company, valued at $40,589,687.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,480 shares of company stock worth $10,606,182. Corporate insiders own 0.17% of the company’s stock.
Shares of NYSE:V traded up $1.35 on Friday, reaching $202.30. 2,524,775 shares of the company were exchanged, compared to its average volume of 7,776,800. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.57. Visa Inc has a 1-year low of $133.30 and a 1-year high of $201.50. The firm has a market cap of $386.09 billion, a price-to-earnings ratio of 37.19, a price-to-earnings-growth ratio of 2.04 and a beta of 0.93. The company has a 50-day moving average of $187.66 and a 200-day moving average of $180.43.
Visa (NYSE:V) last posted its quarterly earnings results on Thursday, October 24th. The credit-card processor reported $1.47 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $6.08 billion. During the same period in the prior year, the company posted $1.21 EPS. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, analysts forecast that Visa Inc will post 6.2 earnings per share for the current year.
A number of equities analysts have recently commented on the stock. Wells Fargo & Co lifted their target price on shares of Visa from $200.00 to $213.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Morgan Stanley lifted their target price on shares of Visa from $207.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Compass Point assumed coverage on shares of Visa in a report on Thursday, December 5th. They issued a “buy” rating on the stock. Wedbush lifted their target price on shares of Visa from $195.00 to $215.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Oppenheimer lifted their target price on shares of Visa from $202.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Visa has a consensus rating of “Buy” and an average price target 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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