Pegasus Asset Management Inc. Purchases Shares of 756 Visa Inc. (NYSE:V)

Pegasus Asset Management Inc. bought a new position in shares of Visa Inc. (NYSE:V) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 756 shares of the credit-card processor’s stock, valued at approximately $208,000.

A number of other large investors have also recently bought and sold shares of the company. Hoxton Planning & Management LLC grew its holdings in Visa by 4.1% during the first quarter. Hoxton Planning & Management LLC now owns 1,667 shares of the credit-card processor’s stock worth $465,000 after acquiring an additional 66 shares during the period. Prentice Wealth Management LLC increased its holdings in shares of Visa by 6.0% during the 1st quarter. Prentice Wealth Management LLC now owns 4,887 shares of the credit-card processor’s stock valued at $1,364,000 after purchasing an additional 276 shares in the last quarter. Security National Bank increased its holdings in shares of Visa by 0.9% during the 1st quarter. Security National Bank now owns 38,622 shares of the credit-card processor’s stock valued at $10,779,000 after purchasing an additional 340 shares in the last quarter. Richelieu Gestion SA boosted its holdings in Visa by 68.0% during the first quarter. Richelieu Gestion SA now owns 1,979 shares of the credit-card processor’s stock worth $552,000 after buying an additional 801 shares in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. grew its position in Visa by 13.0% during the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 1,207 shares of the credit-card processor’s stock valued at $331,000 after buying an additional 139 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Robert W. Baird increased their price target on Visa from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Macquarie restated an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research report on Friday, September 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $322.00 target price on shares of Visa in a research note on Wednesday, September 25th. Finally, BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a research note on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $314.19.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by insiders.

Visa Trading Down 0.7 %

Shares of V opened at $284.88 on Wednesday. Visa Inc. has a 12-month low of $228.03 and a 12-month high of $293.07. The firm has a market capitalization of $521.03 billion, a P/E ratio of 31.83, a P/E/G ratio of 2.00 and a beta of 0.96. The firm has a 50-day moving average price of $277.95 and a 200 day moving average price of $273.02. 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 (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.16 EPS. Sell-side analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Visa Company 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.