Ingalls & Snyder LLC Reduces Stock Holdings in Visa Inc. $V

Ingalls & Snyder LLC reduced its position in Visa Inc. (NYSE:V) by 12.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 19,777 shares of the credit-card processor’s stock after selling 2,703 shares during the quarter. Ingalls & Snyder LLC’s holdings in Visa were worth $7,022,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Interchange Capital Partners LLC boosted its holdings in shares of Visa by 0.5% in the second quarter. Interchange Capital Partners LLC now owns 6,413 shares of the credit-card processor’s stock valued at $2,276,000 after acquiring an additional 30 shares during the period. Brighton Jones LLC boosted its holdings in shares of Visa by 8.3% in the second quarter. Brighton Jones LLC now owns 22,876 shares of the credit-card processor’s stock valued at $8,122,000 after acquiring an additional 1,758 shares during the period. Stegent Equity Advisors Inc. boosted its holdings in shares of Visa by 3.6% in the second quarter. Stegent Equity Advisors Inc. now owns 1,263 shares of the credit-card processor’s stock valued at $448,000 after acquiring an additional 44 shares during the period. MQS Management LLC acquired a new stake in shares of Visa in the second quarter valued at approximately $403,000. Finally, Linden Thomas Advisory Services LLC boosted its holdings in shares of Visa by 3.3% in the second quarter. Linden Thomas Advisory Services LLC now owns 19,945 shares of the credit-card processor’s stock valued at $7,081,000 after acquiring an additional 644 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. This represents a 95.13% decrease in their position. The SEC filing for this sale provides additional information. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

V has been the subject of several research analyst reports. Morgan Stanley increased their price objective on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Oppenheimer increased their price target on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 price target for the company. KeyCorp reaffirmed an “overweight” rating and set a $405.00 price target on shares of Visa in a report on Wednesday, October 22nd. Finally, UBS Group reaffirmed a “buy” rating and set a $415.00 price target (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $392.75.

Visa Price Performance

Visa stock opened at $347.51 on Wednesday. Visa Inc. has a one year low of $281.35 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The business has a fifty day moving average of $344.99 and a two-hundred day moving average of $348.25. The company has a market cap of $636.92 billion, a P/E ratio of 33.94, a price-to-earnings-growth ratio of 2.06 and a beta of 0.90.

Visa (NYSE:V) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter last year, the company earned $2.71 earnings per share. Visa’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

About Visa

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.