Sky Investment Group LLC Has $1.94 Million Stock Position in Visa Inc. (NYSE:V)

Sky Investment Group LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 5.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,051 shares of the credit-card processor’s stock after purchasing an additional 349 shares during the period. Sky Investment Group LLC’s holdings in Visa were worth $1,939,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in V. Hoxton Planning & Management LLC grew its stake in Visa by 4.1% in the first quarter. Hoxton Planning & Management LLC now owns 1,667 shares of the credit-card processor’s stock valued at $465,000 after acquiring an additional 66 shares during the period. Prentice Wealth Management LLC grew its stake in Visa by 6.0% in the first quarter. Prentice Wealth Management LLC now owns 4,887 shares of the credit-card processor’s stock valued at $1,364,000 after acquiring an additional 276 shares during the period. Security National Bank boosted its position in shares of Visa by 0.9% during the first quarter. Security National Bank now owns 38,622 shares of the credit-card processor’s stock valued at $10,779,000 after buying an additional 340 shares during the last quarter. Richelieu Gestion SA boosted its position in shares of Visa by 68.0% during the first quarter. Richelieu Gestion SA now owns 1,979 shares of the credit-card processor’s stock valued at $552,000 after buying an additional 801 shares during the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. boosted its position in shares of Visa by 13.0% during the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 1,207 shares of the credit-card processor’s stock valued at $331,000 after buying an additional 139 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on V. Jefferies Financial Group cut their target price on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. William Blair raised Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. TD Cowen dropped their price target on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, Macquarie reiterated an “outperform” rating and set a $300.00 price target on shares of Visa in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus target price of $314.19.

Visa Trading Down 0.7 %

NYSE V opened at $284.88 on Wednesday. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07. 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 stock has a 50-day moving average of $277.95 and a 200-day moving average of $273.02. The firm has a market cap of $521.03 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96.

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

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.19% of the stock is currently owned by corporate insiders.

Visa Profile

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.