Visa Inc. (NYSE:V) Shares Sold by Manchester Financial Inc.

Manchester Financial Inc. reduced its position in shares of Visa Inc. (NYSE:V) by 1.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 13,118 shares of the credit-card processor’s stock after selling 143 shares during the period. Visa comprises approximately 0.8% of Manchester Financial Inc.’s holdings, making the stock its 20th largest position. Manchester Financial Inc.’s holdings in Visa were worth $3,607,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Visa by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after acquiring an additional 788,908 shares during the last quarter. Capital International Investors boosted its position in Visa by 2.7% during the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after acquiring an additional 626,618 shares during the last quarter. Capital World Investors boosted its stake in Visa by 5.4% in the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after buying an additional 968,008 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Visa by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after purchasing an additional 345,829 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Visa by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after purchasing an additional 312,286 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

V opened at $281.73 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market cap of $513.40 billion, a P/E ratio of 30.13, a PEG ratio of 1.95 and a beta of 0.96. The firm has a 50-day moving average of $279.02 and a 200 day moving average of $273.16. Visa Inc. has a fifty-two week low of $228.03 and a fifty-two week high of $293.07.

Analyst Ratings Changes

V has been the subject of a number of analyst reports. Jefferies Financial Group decreased their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Robert W. Baird raised their price objective on Visa from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Macquarie reiterated an “outperform” rating and set a $300.00 price objective on shares of Visa in a research note on Friday, September 27th. Bank of America lifted their price objective on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Finally, TD Cowen lowered their price target on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.19.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by corporate insiders.

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.