Mathes Company Inc. decreased its holdings in shares of Visa Inc (NYSE:V) by 3.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,595 shares of the credit-card processor’s stock after selling 675 shares during the period. Visa accounts for about 1.5% of Mathes Company Inc.’s holdings, making the stock its 28th largest holding. Mathes Company Inc.’s holdings in Visa were worth $2,855,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in V. Krane Funds Advisors LLC bought a new stake in Visa during the second quarter valued at about $26,000. Lowe Wealth Advisors LLC grew its position in shares of Visa by 114.7% during the second quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 86 shares in the last quarter. Personal Wealth Partners purchased a new position in shares of Visa during the second quarter valued at about $30,000. Mcmillion Capital Management Inc. purchased a new position in shares of Visa during the second quarter valued at about $38,000. Finally, Hexavest Inc. purchased a new position in shares of Visa during the second quarter valued at about $40,000. 80.99% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:V traded up $0.40 during trading hours on Monday, hitting $176.11. 2,582,895 shares of the company’s stock traded hands, compared to its average volume of 8,143,441. Visa Inc has a 1 year low of $121.60 and a 1 year high of $187.05. The business has a fifty day moving average price of $177.09 and a 200-day moving average price of $171.45. The firm has a market capitalization of $353.02 billion, a P/E ratio of 38.20, a price-to-earnings-growth ratio of 1.83 and a beta of 0.96. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.69.
Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share (EPS) 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 business 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 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities analysts predict that Visa Inc will post 5.4 earnings per share for the current year.
In other news, Director Lloyd Carney sold 3,500 shares of Visa stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $182.73, for a total transaction of $639,555.00. Following the completion of the sale, the director now owns 3,452 shares of the company’s stock, valued at $630,783.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Denise M. Morrison purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were bought at an average cost of $171.13 per share, with a total value of $171,130.00. Following the purchase, the director now directly owns 3,223 shares of the company’s stock, valued at approximately $551,551.99. The disclosure for this purchase can be found here. 0.17% of the stock is owned by insiders.
V has been the subject of a number of research analyst reports. Citigroup raised their price objective on Visa from $185.00 to $206.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Jefferies Financial Group lifted their price target on Visa from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Deutsche Bank lifted their price target on Visa from $177.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Credit Suisse Group lifted their price target on Visa from $200.00 to $203.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, ValuEngine lowered Visa from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Visa currently has an average rating of “Buy” and an average price target 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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