Flagship Harbor Advisors LLC Acquires New Stake in Visa Inc. (NYSE:V)

Flagship Harbor Advisors LLC acquired a new stake in shares of Visa Inc. (NYSE:V) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,532 shares of the credit-card processor’s stock, valued at approximately $11,419,000.

Other hedge funds also recently bought and sold shares of the company. Jessup Wealth Management Inc increased its position in Visa by 0.7% in the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after buying an additional 37 shares in the last quarter. Cordatus Wealth Management LLC boosted its stake in shares of Visa by 0.3% in the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after acquiring an additional 37 shares during the period. KMG Fiduciary Partners LLC boosted its stake in shares of Visa by 0.3% in the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock worth $3,831,000 after acquiring an additional 37 shares during the period. Tlwm boosted its stake in shares of Visa by 0.7% in the second quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock worth $1,376,000 after acquiring an additional 38 shares during the period. Finally, Meridian Financial Partners LLC boosted its stake in shares of Visa by 0.5% in the second quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock worth $2,196,000 after acquiring an additional 38 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.7 %

Shares of NYSE V opened at $284.88 on Wednesday. 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 business’s 50 day moving average price is $277.95 and its 200-day moving average price is $273.02. Visa Inc. has a fifty-two week low of $228.03 and a fifty-two week high of $293.07. The company has a market cap of $521.03 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 2.00 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the prior year, the business posted $2.16 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, sell-side analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on V. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research note on Tuesday, September 3rd. Macquarie reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research note on Friday, September 27th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Robert W. Baird increased their price target on Visa from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $314.19.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s 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 transaction, the chief executive officer now directly owns 538 shares in the company, 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 SEC, which is available through the SEC website. 0.19% of the stock is currently owned by company insiders.

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.