VestGen Investment Management Trims Holdings in Visa Inc. $V

VestGen Investment Management trimmed its stake in Visa Inc. (NYSE:V) by 5.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 652 shares of the credit-card processor’s stock after selling 37 shares during the period. VestGen Investment Management’s holdings in Visa were worth $231,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in V. Nuveen LLC purchased a new stake in shares of Visa in the 1st quarter valued at approximately $3,518,533,000. Vanguard Group Inc. increased its stake in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after buying an additional 1,677,088 shares during the period. Wellington Management Group LLP increased its stake in Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after buying an additional 1,651,954 shares during the period. MUFG Securities EMEA plc purchased a new stake in Visa during the 1st quarter worth approximately $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Visa by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after buying an additional 955,392 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the company’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 in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.13% of the company’s stock.

Visa Trading Down 0.1%

Shares of NYSE:V opened at $347.51 on Wednesday. Visa Inc. has a 52 week low of $281.35 and a 52 week high of $375.51. The company’s 50 day moving average is $344.99 and its two-hundred day moving average is $348.25. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market cap of $636.92 billion, a PE ratio of 33.94, a P/E/G ratio of 2.06 and a beta of 0.90.

Visa (NYSE:V) last announced its quarterly earnings data 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 net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the prior year, the firm posted $2.71 EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on V. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 target price on the stock. Macquarie upped their target price on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Oppenheimer upped their target price on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $392.75.

Visa 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.