Perennial Advisors LLC boosted its stake in Visa Inc (NYSE:V) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,813 shares of the credit-card processor’s stock after buying an additional 1,109 shares during the quarter. Visa makes up about 2.3% of Perennial Advisors LLC’s holdings, making the stock its 11th biggest position. Perennial Advisors LLC’s holdings in Visa were worth $3,348,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in V. Cordasco Financial Network acquired a new stake in shares of Visa during the 3rd quarter valued at about $105,000. Motco boosted its position in shares of 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 in the last quarter. BDO Wealth Advisors LLC bought a new position in Visa during the 2nd quarter valued at about $115,000. Mascoma Wealth Management LLC bought a new position in Visa during the 2nd quarter valued at about $122,000. Finally, MPS Loria Financial Planners LLC bought a new position in Visa during the 2nd quarter valued at about $123,000. Institutional investors own 81.50% of the company’s stock.
In other news, EVP Tullier Kelly Mahon sold 49,702 shares of Visa stock in a transaction on Friday, December 15th. The shares were sold at an average price of $113.66, for a total value of $5,649,129.32. Following the completion of the sale, the executive vice president now owns 76,202 shares in the company, valued at approximately $8,661,119.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Matschullat sold 6,220 shares of Visa 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 completion of the sale, the director now owns 57,368 shares of the company’s stock, valued at approximately $6,526,183.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,068 shares of company stock valued at $6,597,262. 0.14% of the stock is owned by company insiders.
Shares of Visa Inc (NYSE:V) traded up $0.25 during trading on Friday, reaching $120.09. 5,584,783 shares of the company’s stock were exchanged, compared to its average volume of 8,920,000. Visa Inc has a 12-month low of $80.51 and a 12-month high of $120.48. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $272,150.00, a P/E ratio of 42.89, a price-to-earnings-growth ratio of 1.75 and a beta of 0.99.
Visa (NYSE:V) last posted its quarterly earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.05. The company had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.63 billion. Visa had a net margin of 36.49% and a return on equity of 31.80%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company posted $0.78 EPS. research analysts forecast that Visa Inc will post 4.07 earnings per share for the current year.
A number of brokerages have weighed in on V. Susquehanna Bancshares boosted their target price on shares of Visa from $126.00 to $148.00 in a research note on Thursday, December 28th. Jefferies Group reissued a “buy” rating and set a $125.00 price target (up from $112.00) on shares of Visa in a research note on Tuesday, October 17th. Mizuho reissued a “buy” rating and set a $115.00 price target on shares of Visa in a research note on Thursday, October 12th. Cowen restated a “buy” rating and set a $107.00 price objective on shares of Visa in a report on Thursday, October 12th. Finally, Robert W. Baird restated a “buy” rating and set a $122.00 price objective on shares of Visa in a report on Tuesday, September 26th. Four research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. Visa currently has a consensus rating of “Buy” and an average target price of $122.03.
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Visa Company Profile
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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