Tower Research Capital LLC TRC increased its holdings in shares of Visa Inc (NYSE:V) by 6,464.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 119,407 shares of the credit-card processor’s stock after purchasing an additional 117,588 shares during the period. Visa accounts for about 1.4% of Tower Research Capital LLC TRC’s holdings, making the stock its 4th biggest holding. Tower Research Capital LLC TRC’s holdings in Visa were worth $20,539,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the stock. Nuveen Asset Management LLC boosted its position in Visa by 3,715.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 16,291,965 shares of the credit-card processor’s stock valued at $2,827,471,000 after buying an additional 15,864,991 shares during the last quarter. Thoroughbred Financial Services LLC raised its stake in shares of Visa by 17,806.8% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,346,951 shares of the credit-card processor’s stock valued at $334,695,000 after purchasing an additional 3,328,260 shares in the last quarter. BlackRock Inc. raised its stake in shares of Visa by 2.3% in the 2nd quarter. BlackRock Inc. now owns 123,791,138 shares of the credit-card processor’s stock valued at $21,483,952,000 after purchasing an additional 2,773,330 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Visa by 92.0% in the 2nd quarter. Prudential Financial Inc. now owns 3,898,728 shares of the credit-card processor’s stock valued at $676,625,000 after purchasing an additional 1,868,089 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Visa by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 146,976,797 shares of the credit-card processor’s stock valued at $25,507,824,000 after purchasing an additional 1,615,505 shares in the last quarter. 80.98% of the stock is owned by hedge funds and other institutional investors.
Shares of Visa stock traded up $0.57 on Monday, hitting $179.54. The company had a trading volume of 3,608,256 shares, compared to its average volume of 7,596,444. The company has a market cap of $349.90 billion, a PE ratio of 33.00, a PEG ratio of 1.83 and a beta of 0.94. Visa Inc has a 52 week low of $121.60 and a 52 week high of $187.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.56 and a quick ratio of 1.69. The business has a 50-day simple moving average of $176.22 and a 200-day simple moving average of $173.43.
Visa (NYSE:V) last issued its 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. The firm had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $6.08 billion. Visa had a net margin of 52.57% and a return on equity of 42.57%. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. On average, equities research analysts predict that Visa Inc will post 6.21 earnings per share for the current fiscal year.
The firm also recently announced a dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 14th. Visa’s payout ratio is 18.38%.
A number of equities research analysts have recently issued reports on V shares. Guggenheim set a $194.00 target price on shares of Visa and gave the company a “buy” rating in a research note on Friday, October 25th. Raymond James increased their price objective on shares of Visa from $193.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Jefferies Financial Group set a $210.00 price objective on shares of Visa and gave the stock a “buy” rating in a research note on Friday, October 25th. Robert W. Baird set a $196.00 target price on shares of Visa and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, Barclays upped their target price on shares of Visa from $181.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Three analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $199.04.
In related news, EVP William M. Sheedy sold 21,164 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were 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 directly owns 227,126 shares in the company, valued at $40,589,687.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Vasant M. Prabhu sold 25,051 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.14, for a total transaction of $4,537,738.14. Following the sale, the insider now owns 62,223 shares of the company’s stock, valued at $11,271,074.22. The disclosure for this sale can be found here. Insiders have sold 53,215 shares of company stock valued at $9,564,487 over the last 90 days. 0.17% of the stock is currently owned by insiders.
Visa Company Profile
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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