Prudential Financial Inc. boosted its position in Visa Inc (NYSE:V) by 56.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,023,202 shares of the credit-card processor’s stock after purchasing an additional 1,445,091 shares during the quarter. Visa comprises about 0.7% of Prudential Financial Inc.’s holdings, making the stock its 23rd largest position. Prudential Financial Inc. owned 0.18% of Visa worth $423,401,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. First American Trust FSB grew its holdings in shares of Visa by 36.6% during the 2nd quarter. First American Trust FSB now owns 57,934 shares of the credit-card processor’s stock worth $5,433,000 after purchasing an additional 15,534 shares during the period. First National Bank of Mount Dora Trust Investment Services grew its holdings in shares of Visa by 30.2% during the 2nd quarter. First National Bank of Mount Dora Trust Investment Services now owns 49,731 shares of the credit-card processor’s stock worth $4,664,000 after purchasing an additional 11,540 shares during the period. KAMES CAPITAL plc grew its holdings in shares of Visa by 3.1% during the 2nd quarter. KAMES CAPITAL plc now owns 674,211 shares of the credit-card processor’s stock worth $63,234,000 after purchasing an additional 20,385 shares during the period. Catawba Capital Management VA grew its holdings in shares of Visa by 14.2% during the 2nd quarter. Catawba Capital Management VA now owns 15,970 shares of the credit-card processor’s stock worth $1,498,000 after purchasing an additional 1,980 shares during the period. Finally, Xact Kapitalforvaltning AB grew its holdings in shares of Visa by 8.4% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 344,009 shares of the credit-card processor’s stock worth $32,261,000 after purchasing an additional 26,788 shares during the period. 81.50% of the stock is owned by hedge funds and other institutional investors.
Visa Inc (NYSE V) opened at $120.09 on Friday. Visa Inc has a 52-week low of $80.76 and a 52-week high of $120.48. The stock 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. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.90.
Visa (NYSE:V) last announced its earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.05. Visa had a return on equity of 31.80% and a net margin of 36.49%. The company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same period in the prior year, the company posted $0.78 EPS. Visa’s quarterly revenue was up 13.9% on a year-over-year basis. equities research analysts anticipate that Visa Inc will post 4.07 earnings per share for the current year.
V has been the subject of a number of research reports. Wells Fargo & Co upgraded Visa from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $107.01 to $120.00 in a report on Tuesday, October 10th. KeyCorp restated a “buy” rating and issued a $118.00 price target on shares of Visa in a report on Wednesday, October 18th. Barclays upped their price target on Visa from $114.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Morgan Stanley upped their price target on Visa from $114.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, October 20th. Finally, Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Four research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $122.03.
In related news, SVP James H. Hoffmeister sold 2,146 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $112.09, for a total transaction of $240,545.14. Following the sale, the senior vice president now directly owns 687 shares of the company’s stock, valued at approximately $77,005.83. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Tullier Kelly Mahon sold 49,702 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 76,202 shares in the company, valued at $8,661,119.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,068 shares of company stock worth $6,597,262. 0.14% of the stock is currently owned by corporate insiders.
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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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