Laird Norton Trust Company LLC lessened its holdings in Visa Inc. (NYSE:V – Get Rating) by 19.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,767 shares of the credit-card processor’s stock after selling 416 shares during the quarter. Laird Norton Trust Company LLC’s holdings in Visa were worth $391,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Hendershot Investments Inc. raised its stake in shares of Visa by 8.2% during the first quarter. Hendershot Investments Inc. now owns 45,910 shares of the credit-card processor’s stock valued at $10,181,000 after purchasing an additional 3,463 shares in the last quarter. Richard C. Young & CO. LTD. raised its position in Visa by 2.9% in the first quarter. Richard C. Young & CO. LTD. now owns 83,198 shares of the credit-card processor’s stock worth $18,451,000 after acquiring an additional 2,348 shares in the last quarter. Wealth Enhancement & Preservation of GA LLC raised its position in Visa by 6.3% in the first quarter. Wealth Enhancement & Preservation of GA LLC now owns 5,779 shares of the credit-card processor’s stock worth $1,282,000 after acquiring an additional 341 shares in the last quarter. Integrity Financial Corp WA raised its position in Visa by 9.3% in the first quarter. Integrity Financial Corp WA now owns 1,287 shares of the credit-card processor’s stock worth $286,000 after acquiring an additional 110 shares in the last quarter. Finally, Grimes & Company Inc. raised its position in Visa by 20.2% in the first quarter. Grimes & Company Inc. now owns 59,615 shares of the credit-card processor’s stock worth $13,221,000 after acquiring an additional 10,024 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.
Visa Stock Up 2.4 %
NYSE:V opened at $213.47 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market cap of $405.87 billion, a PE ratio of 31.49, a PEG ratio of 1.68 and a beta of 0.89. Visa Inc. has a 52-week low of $185.91 and a 52-week high of $242.60. The stock has a 50-day simple moving average of $205.25 and a 200 day simple moving average of $210.48.
Visa Announces Dividend
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Citigroup dropped their price target on shares of Visa from $270.00 to $254.00 in a research report on Tuesday, July 26th. Royal Bank of Canada dropped their price target on Visa from $278.00 to $262.00 in a research note on Wednesday, July 27th. Wells Fargo & Company dropped their price target on Visa from $280.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 13th. Cowen dropped their price target on Visa from $276.00 to $254.00 in a research note on Wednesday, April 27th. Finally, UBS Group lifted their price target on Visa from $292.00 to $296.00 and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average price target of $258.64.
Insider Buying and Selling
In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $195.37, for a total value of $1,758,330.00. Following the completion of the transaction, the chief executive officer now directly owns 159,887 shares in the company, valued at $31,237,123.19. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 27,000 shares of company stock worth $5,560,740. 0.21% of the stock is owned by corporate insiders.
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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