Heritage Financial Services LLC Acquires New Position in Visa Inc. (NYSE:V)

Heritage Financial Services LLC acquired a new stake in shares of Visa Inc. (NYSE:V) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 745 shares of the credit-card processor’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in Visa by 0.6% during the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after purchasing an additional 788,908 shares during the last quarter. Capital International Investors increased 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 purchasing an additional 626,618 shares during the last quarter. Capital World Investors increased its position in Visa by 5.4% during the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after purchasing an additional 968,008 shares during the last quarter. Ameriprise Financial Inc. increased its position in Visa by 2.4% during the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after purchasing an additional 345,829 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Visa by 2.2% during the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock worth $3,783,857,000 after purchasing an additional 312,286 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.5 %

Visa stock opened at $281.73 on Friday. The firm’s 50-day moving average is $279.02 and its 200-day moving average is $273.17. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a 1 year low of $228.03 and a 1 year high of $293.07. The company has a market cap of $515.27 billion, a P/E ratio of 31.48, a PEG ratio of 1.96 and a beta of 0.96.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on V. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Morgan Stanley reissued an “overweight” rating and issued a $322.00 price objective on shares of Visa in a research report on Wednesday, September 25th. BMO Capital Markets increased their price objective on shares of Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Citigroup dropped their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research report on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $314.19.

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.