Litman Gregory Wealth Management LLC trimmed its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,129 shares of the credit-card processor’s stock after selling 324 shares during the period. Visa accounts for about 1.4% of Litman Gregory Wealth Management LLC’s investment portfolio, making the stock its 18th biggest holding. Litman Gregory Wealth Management LLC’s holdings in Visa were worth $16,532,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Hilltop National Bank bought a new stake in shares of Visa in the 1st quarter valued at about $1,212,000. Absolute Capital Management LLC acquired a new stake in shares of Visa in the first quarter valued at approximately $404,000. Davidson Capital Management Inc. lifted its position in shares of Visa by 0.5% in the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after purchasing an additional 44 shares in the last quarter. Empirical Finance LLC boosted its holdings in Visa by 4.4% during the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after purchasing an additional 1,914 shares during the last quarter. Finally, Arjuna Capital grew its position in Visa by 0.8% in the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after purchasing an additional 96 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.
Visa Stock Performance
NYSE:V opened at $283.76 on Thursday. 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 simple moving average of $278.40 and a 200 day simple moving average of $273.10. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07. The stock has a market cap of $517.10 billion, a P/E ratio of 30.35, a PEG ratio of 1.96 and a beta of 0.96.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research report on Tuesday, September 3rd. Royal Bank of Canada reduced their price target on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. The Goldman Sachs Group restated a “buy” rating and issued a $317.00 price target on shares of Visa in a research note on Thursday, September 12th. Finally, Jefferies Financial Group cut their price objective on Visa from $325.00 to $300.00 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $314.19.
Read Our Latest Stock Analysis on Visa
Insider Buying and Selling
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is owned by insiders.
Visa Company 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.
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