Hennion & Walsh Asset Management Inc. Lowers Stock Holdings in Visa Inc. (NYSE:V)

Hennion & Walsh Asset Management Inc. cut its holdings in shares of Visa Inc. (NYSE:V) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,846 shares of the credit-card processor’s stock after selling 1,069 shares during the quarter. Visa comprises approximately 0.6% of Hennion & Walsh Asset Management Inc.’s portfolio, making the stock its 29th biggest holding. Hennion & Walsh Asset Management Inc.’s holdings in Visa were worth $11,781,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Global Assets Advisory LLC acquired a new stake in shares of Visa during the 3rd quarter worth $1,156,000. JCIC Asset Management Inc. grew its position in Visa by 1.0% during the third quarter. JCIC Asset Management Inc. now owns 26,448 shares of the credit-card processor’s stock valued at $7,272,000 after acquiring an additional 250 shares during the period. Romano Brothers AND Company increased its stake in Visa by 1.7% during the third quarter. Romano Brothers AND Company now owns 8,490 shares of the credit-card processor’s stock worth $2,334,000 after acquiring an additional 145 shares during the last quarter. Patrick M Sweeney & Associates Inc. raised its holdings in shares of Visa by 1.6% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 7,015 shares of the credit-card processor’s stock worth $1,929,000 after purchasing an additional 113 shares during the period. Finally, Great Lakes Retirement Inc. lifted its stake in shares of Visa by 7.1% in the 3rd quarter. Great Lakes Retirement Inc. now owns 46,635 shares of the credit-card processor’s stock valued at $12,822,000 after purchasing an additional 3,075 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 in the company, valued at $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 is available at this link. 0.19% of the stock is currently owned by corporate insiders.

Visa Price Performance

Shares of NYSE V opened at $283.22 on Friday. 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 company has a market capitalization of $517.99 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. Visa Inc. has a twelve month low of $228.03 and a twelve month high of $293.07. The business has a 50 day simple moving average of $278.40 and a 200-day simple moving average of $273.10.

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

Wall Street Analyst Weigh In

V has been the subject of a number of research analyst reports. BMO Capital Markets increased 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. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Bank of America upped their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. TD Cowen cut their price objective on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Four 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 stock. According to MarketBeat, Visa has an average rating of “Moderate Buy” and an average target price of $314.19.

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.