Ford Financial Group LLC lifted its position in shares of Visa Inc (NYSE:V) by 4.0% in the third quarter, Holdings Channel reports. The institutional investor owned 6,942 shares of the credit-card processor’s stock after acquiring an additional 266 shares during the quarter. Visa comprises approximately 0.8% of Ford Financial Group LLC’s holdings, making the stock its 27th largest position. Ford Financial Group LLC’s holdings in Visa were worth $1,388,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cedar Mountain Advisors LLC increased its holdings in shares of Visa by 102.6% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 158 shares of the credit-card processor’s stock worth $31,000 after buying an additional 80 shares during the last quarter. Price Wealth LLC boosted its position 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 worth $37,000 after purchasing an additional 90 shares during the period. CVA Family Office LLC purchased a new position in shares of Visa during the 1st quarter worth approximately $32,000. Centerpoint Advisors LLC purchased a new position in shares of Visa during the 2nd quarter worth approximately $43,000. Finally, American Research & Management Co. boosted its position in shares of 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 purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.
Shares of NYSE:V opened at $200.26 on Friday. The company’s fifty day moving average price is $203.88 and its 200 day moving average price is $191.62. Visa Inc has a 12 month low of $133.93 and a 12 month high of $217.35. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a market capitalization of $388.98 billion, a P/E ratio of 38.14, a P/E/G ratio of 3.05 and a beta of 0.90.
Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.05. Visa had a net margin of 51.37% and a return on equity of 40.65%. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period last year, the business earned $1.37 EPS. Visa’s revenue for the quarter was down 18.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Visa Inc will post 5.01 EPS for the current year.
V has been the subject of a number of research analyst reports. Mizuho reaffirmed a “buy” rating and set a $250.00 price objective on shares of Visa in a research report on Thursday, October 8th. 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 report on Friday, October 2nd. Wells Fargo & Company increased their price objective on shares of Visa from $205.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Wedbush reaffirmed a “buy” rating and set a $220.00 price objective on shares of Visa in a research report on Monday, October 5th. Finally, Bank of America raised their price target on shares of Visa from $227.00 to $234.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Six investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $214.72.
In other Visa news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of Visa stock in a transaction on Friday, August 28th. The shares were sold at an average price of $212.00, for a total value of $1,484,000.00. Following the transaction, the chief executive officer now directly owns 127,090 shares in the company, valued at $26,943,080. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Rajat Taneja sold 45,036 shares of Visa stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $210.00, for a total transaction of $9,457,560.00. Over the last 90 days, insiders sold 118,122 shares of company stock worth $24,748,541. 0.19% of the stock is currently owned by company insiders.
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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