Visa Inc. (NYSE:V) Stake Reduced by IFM Investors Pty Ltd

IFM Investors Pty Ltd trimmed its stake in Visa Inc. (NYSE:V) by 0.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 324,902 shares of the credit-card processor’s stock after selling 1,619 shares during the quarter. Visa makes up about 0.9% of IFM Investors Pty Ltd’s investment portfolio, making the stock its 15th largest holding. IFM Investors Pty Ltd’s holdings in Visa were worth $89,332,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Bogart Wealth LLC raised its holdings in shares of Visa by 2.1% during the third quarter. Bogart Wealth LLC now owns 57,851 shares of the credit-card processor’s stock valued at $15,906,000 after buying an additional 1,196 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its position in Visa by 9.5% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 1,435 shares of the credit-card processor’s stock valued at $395,000 after acquiring an additional 125 shares during the period. Jackson Wealth Management LLC raised its stake in Visa by 57.7% during the 3rd quarter. Jackson Wealth Management LLC now owns 14,512 shares of the credit-card processor’s stock valued at $3,990,000 after acquiring an additional 5,308 shares in the last quarter. Lafayette Investments Inc. boosted its position in Visa by 8.4% during the 3rd quarter. Lafayette Investments Inc. now owns 7,807 shares of the credit-card processor’s stock worth $2,147,000 after acquiring an additional 607 shares during the period. Finally, Commonwealth Financial Services LLC grew its stake in shares of Visa by 5.0% in the third quarter. Commonwealth Financial Services LLC now owns 2,359 shares of the credit-card processor’s stock worth $655,000 after purchasing an additional 113 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $281.73 on Friday. The company has a market capitalization of $515.27 billion, a price-to-earnings ratio of 31.48, a P/E/G ratio of 1.96 and a beta of 0.96. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock’s fifty day simple moving average is $278.73 and its 200-day simple moving average is $273.17.

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

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

V has been the topic of a number of recent analyst reports. TD Cowen cut their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Jefferies Financial Group dropped their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a report on Tuesday, September 3rd. Royal Bank of Canada dropped their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Finally, Bank of America lifted their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $314.19.

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.