Eastern Bank Boosts Stock Position in Visa Inc. (NYSE:V)

Eastern Bank boosted its position in Visa Inc. (NYSE:V) by 197.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 327,990 shares of the credit-card processor’s stock after buying an additional 217,852 shares during the quarter. Visa makes up approximately 1.6% of Eastern Bank’s portfolio, making the stock its 13th biggest position. Eastern Bank’s holdings in Visa were worth $90,181,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Hoxton Planning & Management LLC grew its holdings in Visa by 4.1% in the 1st 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 last quarter. Prentice Wealth Management LLC grew its stake in shares of Visa by 6.0% in the first quarter. Prentice Wealth Management LLC now owns 4,887 shares of the credit-card processor’s stock worth $1,364,000 after purchasing an additional 276 shares during the last quarter. Security National Bank increased its holdings in 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 during the period. Richelieu Gestion SA raised its position in Visa by 68.0% during the 1st quarter. Richelieu Gestion SA now owns 1,979 shares of the credit-card processor’s stock valued at $552,000 after purchasing an additional 801 shares during the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. lifted its holdings in Visa by 13.0% in the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 1,207 shares of the credit-card processor’s stock worth $331,000 after buying an additional 139 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

V has been the subject of a number of research analyst reports. William Blair raised Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Robert W. Baird increased their price target on shares of Visa from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Piper Sandler reduced their target price on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Royal Bank of Canada dropped their price target on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Finally, Macquarie reiterated an “outperform” rating and issued a $300.00 price objective on shares of Visa in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $314.19.

Visa Trading Down 0.7 %

Shares of V opened at $284.88 on Wednesday. The firm has a market cap of $521.03 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick 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 50 day simple moving average of $277.95 and a two-hundred day simple moving average of $273.02.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting 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 quarter last year, the business posted $2.16 earnings per share. On average, equities analysts expect that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by company insiders.

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.