Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its holdings in Visa Inc (NYSE:V) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 653,597 shares of the credit-card processor’s stock after selling 1,898 shares during the quarter. Visa accounts for about 1.6% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 20th largest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Visa were worth $130,700,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in V. Cedar Mountain Advisors LLC lifted its position in Visa by 102.6% during the second quarter. Cedar Mountain Advisors LLC now owns 158 shares of the credit-card processor’s stock valued at $31,000 after purchasing an additional 80 shares in the last quarter. CVA Family Office LLC bought a new position in shares of Visa during the 1st quarter valued at approximately $32,000. Price Wealth LLC grew its stake in shares of Visa by 90.0% during the 2nd quarter. Price Wealth LLC now owns 190 shares of the credit-card processor’s stock valued at $37,000 after acquiring an additional 90 shares during the period. Centerpoint Advisors LLC purchased a new stake in Visa in the 2nd quarter worth approximately $43,000. Finally, American Research & Management Co. raised its stake in Visa by 27.1% during the 2nd quarter. American Research & Management Co. now owns 267 shares of the credit-card processor’s stock worth $52,000 after acquiring an additional 57 shares during the period. Institutional investors own 80.74% of the company’s stock.
In other Visa news, Director Lloyd Carney sold 1,550 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $192.64, for a total value of $298,592.00. Following the completion of the sale, the director now owns 2,962 shares of the company’s stock, valued at $570,599.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $195.00, for a total value of $1,365,000.00. Following the transaction, the chief executive officer now owns 130,090 shares of the company’s stock, valued at approximately $25,367,550. The disclosure for this sale can be found here. In the last three months, insiders sold 118,122 shares of company stock worth $24,748,541. Insiders own 0.19% of the company’s stock.
Shares of V stock opened at $200.26 on Friday. The company has a market cap of $388.98 billion, a PE ratio of 38.14, a price-to-earnings-growth ratio of 3.05 and a beta of 0.90. Visa Inc has a 1 year low of $133.93 and a 1 year high of $217.35. The stock’s 50 day simple moving average is $203.88 and its two-hundred day simple moving average is $191.62. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.55.
Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.05. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.85 billion. Visa had a return on equity of 40.65% and a net margin of 51.37%. Visa’s quarterly revenue was down 18.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.37 EPS. Equities research analysts expect that Visa Inc will post 5.01 EPS for the current year.
V has been the subject of a number of analyst reports. Jefferies Financial Group increased their price objective on shares of Visa from $185.00 to $205.00 and gave the stock a “hold” rating in a research note on Friday, October 2nd. Royal Bank of Canada reissued a “buy” rating and set a $243.00 price target on shares of Visa in a report on Sunday, October 11th. Mizuho restated a “buy” rating and issued a $250.00 price objective on shares of Visa in a research report on Thursday, October 8th. Bank of America increased their target price on Visa from $227.00 to $234.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Finally, Piper Sandler boosted their price target on Visa from $200.00 to $206.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Six equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Visa has a consensus rating of “Buy” and a consensus target price of $214.72.
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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