Visa Inc. (NYSE:V) Shares Sold by WestEnd Advisors LLC

WestEnd Advisors LLC cut its stake in Visa Inc. (NYSE:V) by 99.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,389 shares of the credit-card processor’s stock after selling 144,412 shares during the period. WestEnd Advisors LLC’s holdings in Visa were worth $382,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. POM Investment Strategies LLC increased its position in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the period. TruNorth Capital Management LLC increased its holdings in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the period. Bbjs Financial Advisors LLC acquired a new position in shares of Visa during the second quarter valued at $35,000. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Visa during the second quarter valued at $35,000. Finally, Abich Financial Wealth Management LLC increased its holdings in shares of Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after purchasing an additional 46 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s 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 directly owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.19% of the company’s stock.

Visa Stock Up 2.9 %

Shares of Visa stock opened at $290.16 on Thursday. The stock has a 50-day moving average price of $280.09 and a 200 day moving average price of $273.38. The company has a market cap of $530.68 billion, a P/E ratio of 32.42, a P/E/G ratio of 1.95 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 1 year low of $232.99 and a 1 year high of $295.78.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.33 EPS. As a group, analysts expect that Visa Inc. will post 9.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on V. Citigroup raised their price target on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price target on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft raised their price target on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $321.00 target price (up previously from $318.00) on shares of Visa in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $320.07.

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.