Landsberg Bennett & Dubbaneh LLC lessened its stake in shares of Visa Inc (NYSE:V) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,794 shares of the credit-card processor’s stock after selling 131 shares during the quarter. Visa makes up about 1.9% of Landsberg Bennett & Dubbaneh LLC’s portfolio, making the stock its 8th biggest position. Landsberg Bennett & Dubbaneh LLC’s holdings in Visa were worth $6,924,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in V. Krane Funds Advisors LLC acquired a new stake in Visa during the 2nd quarter worth about $26,000. Lowe Wealth Advisors LLC lifted its position in Visa by 114.7% during the 2nd quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 86 shares during the period. Personal Wealth Partners acquired a new stake in Visa during the 2nd quarter worth about $30,000. Mcmillion Capital Management Inc. acquired a new stake in Visa during the 2nd quarter worth about $38,000. Finally, Hexavest Inc. acquired a new stake in Visa during the 2nd quarter worth about $40,000. 80.99% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Lloyd Carney sold 3,500 shares of Visa stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $182.73, for a total value of $639,555.00. Following the completion of the transaction, the director now owns 3,452 shares in the company, valued at approximately $630,783.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Denise M. Morrison acquired 1,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $171.13 per share, with a total value of $171,130.00. Following the completion of the purchase, the director now owns 3,223 shares in the company, valued at approximately $551,551.99. The disclosure for this purchase can be found here. 0.17% of the stock is owned by insiders.
Shares of Visa stock traded up $2.18 on Friday, hitting $177.06. The company’s stock had a trading volume of 599,788 shares, compared to its average volume of 8,476,525. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.69 and a current ratio of 1.69. Visa Inc has a 1 year low of $121.60 and a 1 year high of $187.05. The firm has a fifty day moving average price of $177.10 and a 200-day moving average price of $170.53. The company has a market capitalization of $353.87 billion, a price-to-earnings ratio of 38.41, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96.
Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.04. Visa had a return on equity of 41.04% and a net margin of 53.43%. The firm had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the previous year, the business earned $1.20 EPS. Visa’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, analysts forecast that Visa Inc will post 5.41 EPS for the current year.
A number of analysts have commented on the company. Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating and set a $180.00 price target for the company. in a research report on Saturday, June 15th. UBS Group lifted their price objective on Visa from $183.00 to $187.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Wedbush set a $187.00 price objective on Visa and gave the company a “buy” rating in a research note on Tuesday, September 24th. Robert W. Baird set a $196.00 price objective on Visa and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Guggenheim lifted their price objective on Visa from $178.00 to $190.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Visa presently has a consensus rating of “Buy” and a consensus target price of $196.57.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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