Main Street Research LLC Raises Position in Visa Inc (V)

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Main Street Research LLC grew its position in Visa Inc (NYSE:V) by 6.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,031 shares of the credit-card processor’s stock after acquiring an additional 7,576 shares during the quarter. Visa accounts for 2.7% of Main Street Research LLC’s portfolio, making the stock its 9th biggest holding. Main Street Research LLC’s holdings in Visa were worth $19,066,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Fort L.P. bought a new position in shares of Visa during the 2nd quarter valued at approximately $120,000. Cascade Investment Advisors Inc. bought a new position in shares of Visa during the 2nd quarter valued at approximately $132,000. Bridgeworth LLC bought a new position in shares of Visa during the 2nd quarter valued at approximately $143,000. Ruggie Capital Group bought a new position in shares of Visa during the 2nd quarter valued at approximately $164,000. Finally, Quad Cities Investment Group LLC bought a new position in shares of Visa during the 2nd quarter valued at approximately $186,000. 80.10% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP James H. Hoffmeister sold 2,252 shares of the company’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $144.56, for a total transaction of $325,549.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP William M. Sheedy sold 99,636 shares of the company’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $139.28, for a total value of $13,877,302.08. Following the transaction, the executive vice president now directly owns 296,925 shares in the company, valued at $41,355,714. The disclosure for this sale can be found here. Insiders have sold a total of 119,395 shares of company stock valued at $16,697,489 over the last 90 days. 0.17% of the stock is currently owned by company insiders.

Several equities analysts have recently weighed in on the company. Wells Fargo & Co boosted their target price on Visa from $161.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, October 1st. Zacks Investment Research raised Visa from a “hold” rating to a “buy” rating and set a $168.00 target price on the stock in a research report on Tuesday, September 25th. BMO Capital Markets assumed coverage on Visa in a research report on Wednesday, September 26th. They set an “outperform” rating and a $187.00 target price on the stock. Goldman Sachs Group downgraded Visa from a “conviction-buy” rating to a “buy” rating and set a $160.00 target price on the stock. in a research report on Monday, September 17th. Finally, Bank of America reissued a “buy” rating and set a $163.00 target price on shares of Visa in a research report on Monday, September 17th. Two investment analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the stock. Visa has an average rating of “Buy” and a consensus target price of $158.10.

Shares of NYSE V opened at $138.06 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market cap of $279.18 billion, a P/E ratio of 29.95, a P/E/G ratio of 1.50 and a beta of 1.06. Visa Inc has a 1-year low of $111.02 and a 1-year high of $151.56.

Visa (NYSE:V) last issued its quarterly earnings data on Wednesday, October 24th. The credit-card processor reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Visa had a return on equity of 38.00% and a net margin of 49.98%. As a group, equities analysts forecast that Visa Inc will post 5.33 EPS for the current fiscal year.

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Visa Profile

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.

Read More: Asset Allocation, Balancing Your Investments

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Institutional Ownership by Quarter for Visa (NYSE:V)

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