Spirit of America Management Corp NY Increases Stock Position in Visa Inc. (NYSE:V)

Spirit of America Management Corp NY grew its stake in Visa Inc. (NYSE:V) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,550 shares of the credit-card processor’s stock after buying an additional 100 shares during the period. Spirit of America Management Corp NY’s holdings in Visa were worth $2,076,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. POM Investment Strategies LLC grew its position in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. TruNorth Capital Management LLC grew its holdings in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC purchased a new position in Visa in the 2nd quarter worth $35,000. CarsonAllaria Wealth Management Ltd. bought a new stake in Visa in the second quarter worth $35,000. Finally, Abich Financial Wealth Management LLC boosted its position in Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after buying an additional 46 shares during the period. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on V. Oppenheimer assumed coverage on Visa in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 target price for the company. Royal Bank of Canada lowered their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Macquarie reissued an “outperform” rating and issued a $300.00 price target on shares of Visa in a report on Friday, September 27th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research note on Tuesday, September 3rd. Finally, TD Cowen dropped their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $314.19.

Visa Trading Down 0.5 %

Visa stock opened at $281.73 on Friday. Visa Inc. has a 12 month low of $228.03 and a 12 month 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 business’s fifty day simple moving average is $278.73 and its two-hundred day simple moving average is $273.17. The company has a market capitalization of $515.27 billion, a price-to-earnings ratio of 31.48, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.16 EPS. As a group, equities analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 directly owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.19% of the company’s stock.

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.