Summit X LLC lowered its position in shares of Visa Inc (NYSE:V) by 19.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,096 shares of the credit-card processor’s stock after selling 2,722 shares during the quarter. Summit X LLC’s holdings in Visa were worth $1,166,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently bought and sold shares of the business. Motco raised its holdings in Visa by 25.1% during the 2nd quarter. Motco now owns 1,176 shares of the credit-card processor’s stock valued at $110,000 after acquiring an additional 236 shares during the period. BDO Wealth Advisors LLC bought a new stake in Visa during the 2nd quarter valued at $115,000. Mascoma Wealth Management LLC bought a new stake in Visa during the 2nd quarter valued at $122,000. MPS Loria Financial Planners LLC bought a new stake in Visa during the 2nd quarter valued at $123,000. Finally, SpiderRock Advisors LLC raised its holdings in Visa by 107.1% during the 2nd quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock valued at $124,000 after acquiring an additional 19,709 shares during the period. 81.50% of the stock is currently owned by hedge funds and other institutional investors.
In other Visa news, SVP James H. Hoffmeister sold 2,146 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $112.09, for a total value of $240,545.14. Following the transaction, the senior vice president now directly owns 687 shares in the company, valued at $77,005.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert W. Matschullat sold 6,220 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $113.76, for a total transaction of $707,587.20. Following the sale, the director now owns 57,368 shares in the company, valued at $6,526,183.68. The disclosure for this sale can be found here. Insiders sold 58,068 shares of company stock worth $6,597,262 in the last 90 days. 0.14% of the stock is currently owned by corporate insiders.
A number of research analysts have recently commented on V shares. Wells Fargo & Co upgraded shares of Visa from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $107.01 to $120.00 in a research report on Tuesday, October 10th. Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Cantor Fitzgerald initiated coverage on shares of Visa in a research report on Thursday, September 28th. They issued an “overweight” rating and a $120.00 target price for the company. Vetr downgraded shares of Visa from a “buy” rating to a “hold” rating and set a $121.05 price target for the company. in a research note on Monday. Finally, Buckingham Research upped their price objective on shares of Visa from $129.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Four analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. Visa has an average rating of “Buy” and a consensus target price of $120.94.
Visa Inc (NYSE V) traded up $0.86 during trading hours on Thursday, hitting $119.84. 5,599,600 shares of the stock were exchanged, compared to its average volume of 8,950,000. Visa Inc has a 1 year low of $80.51 and a 1 year high of $120.48. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $271,580.00, a PE ratio of 42.80, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99.
Visa (NYSE:V) last issued its earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.05. Visa had a net margin of 36.49% and a return on equity of 31.80%. The company had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.63 billion. During the same quarter last year, the company posted $0.78 earnings per share. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. sell-side analysts forecast that Visa Inc will post 4.07 EPS for the current year.
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Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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