First Merchants Corp bought a new stake in Visa Inc (NYSE:V) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 58,233 shares of the credit-card processor’s stock, valued at approximately $6,128,000. Visa makes up approximately 1.1% of First Merchants Corp’s holdings, making the stock its 24th biggest holding.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Visa by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock worth $11,911,973,000 after purchasing an additional 2,628,148 shares in the last quarter. BlackRock Inc. grew its holdings in Visa by 1.3% during the 2nd quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock worth $10,751,846,000 after acquiring an additional 1,440,034 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Visa by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 15,971,471 shares of the credit-card processor’s stock worth $1,680,838,000 after acquiring an additional 355,320 shares during the last quarter. Capital Research Global Investors grew its holdings in Visa by 20.3% during the 2nd quarter. Capital Research Global Investors now owns 11,394,893 shares of the credit-card processor’s stock worth $1,068,613,000 after acquiring an additional 1,919,732 shares during the last quarter. Finally, Polen Capital Management LLC grew its holdings in Visa by 7.7% during the 2nd quarter. Polen Capital Management LLC now owns 10,425,812 shares of the credit-card processor’s stock worth $977,733,000 after acquiring an additional 745,312 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.
Shares of Visa Inc (NYSE V) traded up $0.68 during midday trading on Wednesday, reaching $124.23. 7,333,924 shares of the company traded hands, compared to its average volume of 7,390,000. The company has a market capitalization of $281,530.00, a price-to-earnings ratio of 44.37, a PEG ratio of 1.80 and a beta of 0.99. Visa Inc has a fifty-two week low of $81.57 and a fifty-two week high of $126.88. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.90 and a current ratio of 1.90.
In other Visa news, Director Robert W. Matschullat sold 6,220 shares of the company’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 transaction, the director now owns 57,368 shares in the company, valued at $6,526,183.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP James H. Hoffmeister sold 2,146 shares of the company’s stock in a transaction 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 transaction, the senior vice president now owns 687 shares in the company, valued at approximately $77,005.83. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,068 shares of company stock worth $6,597,262. 0.14% of the stock is owned by insiders.
A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald reissued a “buy” rating and set a $123.00 target price on shares of Visa in a report on Monday. Citigroup reissued a “buy” rating and set a $145.00 target price (up from $136.00) on shares of Visa in a report on Monday. Zacks Investment Research raised shares of Visa from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Thursday, January 25th. Oppenheimer boosted their target price on shares of Visa from $125.00 to $143.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Morgan Stanley upped their price objective on shares of Visa from $126.00 to $137.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $124.52.
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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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