Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Visa Inc (NYSE:V) by 0.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 671,771 shares of the credit-card processor’s stock after acquiring an additional 2,036 shares during the quarter. Visa makes up 1.7% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 20th biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Visa were worth $115,551,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC acquired a new position in Visa in the second quarter valued at $26,000. Lowe Wealth Advisors LLC increased its stake in Visa by 114.7% in the second quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 86 shares during the last quarter. Personal Wealth Partners acquired a new position in Visa in the second quarter valued at $30,000. Mcmillion Capital Management Inc. acquired a new position in Visa in the second quarter valued at $38,000. Finally, Hexavest Inc. acquired a new position in Visa in the second quarter valued at $40,000. 80.98% of the stock is owned by institutional investors.
In other news, insider Vasant M. Prabhu sold 25,051 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.14, for a total value of $4,537,738.14. Following the completion of the sale, the insider now owns 62,223 shares of the company’s stock, valued at $11,271,074.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was 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 directly owns 55,446 shares of the company’s stock, valued at approximately $9,857,744.34. The disclosure for this sale can be found here. Insiders sold 53,215 shares of company stock valued at $9,564,487 in the last ninety days. Company insiders own 0.17% of the company’s stock.
V stock traded up $0.57 during trading on Monday, reaching $179.54. 3,607,207 shares of the stock traded hands, compared to its average volume of 7,596,444. The business’s 50 day moving average price is $176.22 and its 200-day moving average price is $173.43. 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 firm has a market capitalization of $349.90 billion, a PE ratio of 33.00, a P/E/G ratio of 1.83 and a beta of 0.94.
Visa (NYSE:V) last posted its quarterly earnings results on Thursday, October 24th. The credit-card processor reported $1.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.04. Visa had a return on equity of 42.57% and a net margin of 52.57%. The firm had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $6.08 billion. During the same quarter in the previous year, the business earned $1.21 earnings per share. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, equities research analysts predict that Visa Inc will post 6.21 earnings per share for the current year.
The business also recently announced a dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be given a $0.30 dividend. The ex-dividend date is Thursday, November 14th. Visa’s payout ratio is 18.38%.
Several research firms recently commented on V. Credit Suisse Group upped their target price on Visa from $200.00 to $203.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Citigroup upped their target price on Visa from $185.00 to $206.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Goldman Sachs Group reiterated a “buy” rating and issued a $202.00 target price on shares of Visa in a research note on Wednesday, July 24th. Jefferies Financial Group set a $210.00 target price on Visa and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Piper Jaffray Companies set a $207.00 target price on Visa and gave the company a “buy” rating in a research note on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Visa presently has a consensus rating of “Buy” and an average price target of $199.04.
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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