Argus Investors Counsel Inc. Sells 162 Shares of Visa Inc. (NYSE:V)

Argus Investors Counsel Inc. reduced its stake in shares of Visa Inc. (NYSE:V) by 1.4% during the third quarter, Holdings Channel reports. The firm owned 11,059 shares of the credit-card processor’s stock after selling 162 shares during the quarter. Visa makes up approximately 2.0% of Argus Investors Counsel Inc.’s portfolio, making the stock its 12th biggest position. Argus Investors Counsel Inc.’s holdings in Visa were worth $3,041,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Harbor Advisory Corp MA increased its position in Visa by 3.9% during the 3rd quarter. Harbor Advisory Corp MA now owns 9,336 shares of the credit-card processor’s stock valued at $2,567,000 after purchasing an additional 350 shares during the period. Sky Investment Group LLC increased its position in Visa by 5.2% during the 3rd quarter. Sky Investment Group LLC now owns 7,051 shares of the credit-card processor’s stock valued at $1,939,000 after purchasing an additional 349 shares during the period. Calton & Associates Inc. purchased a new position in Visa during the 3rd quarter valued at $803,000. Foundations Investment Advisors LLC increased its position in Visa by 15.2% during the 3rd quarter. Foundations Investment Advisors LLC now owns 49,994 shares of the credit-card processor’s stock valued at $13,746,000 after purchasing an additional 6,605 shares during the period. Finally, Telos Capital Management Inc. grew its position in shares of Visa by 3.7% in the 3rd quarter. Telos Capital Management Inc. now owns 62,538 shares of the credit-card processor’s stock worth $17,195,000 after buying an additional 2,234 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of 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 legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on V. BMO Capital Markets upped their target price 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. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research report on Tuesday, September 3rd. Macquarie reissued an “outperform” rating and set a $300.00 price objective on shares of Visa in a research report on Friday, September 27th. Finally, Morgan Stanley reissued an “overweight” rating and set a $322.00 price objective on shares of Visa in a research report on Wednesday, September 25th. Four 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.19.

Visa Stock Performance

V stock opened at $284.88 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The business has a 50-day moving average price of $277.95 and a 200 day moving average price of $273.02. The company has a market capitalization of $521.03 billion, a P/E ratio of 31.83, a PEG ratio of 2.00 and a beta of 0.96. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07.

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 analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same quarter in the previous year, the firm earned $2.16 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts forecast that Visa Inc. will post 9.92 EPS for the current fiscal year.

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.