Gradient Investments LLC Invests $1.40 Million in Visa Inc (V)

Gradient Investments LLC bought a new position in Visa Inc (NYSE:V) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,585 shares of the credit-card processor’s stock, valued at approximately $1,402,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fisher Asset Management LLC raised its holdings in shares of Visa by 3.8% during the second quarter. Fisher Asset Management LLC now owns 17,685,789 shares of the credit-card processor’s stock valued at $2,342,483,000 after purchasing an additional 639,522 shares during the last quarter. Edgewood Management LLC raised its holdings in shares of Visa by 3.8% during the first quarter. Edgewood Management LLC now owns 14,827,315 shares of the credit-card processor’s stock valued at $1,773,643,000 after purchasing an additional 548,955 shares during the last quarter. MUFG Securities EMEA plc raised its holdings in shares of Visa by 2.2% during the first quarter. MUFG Securities EMEA plc now owns 11,768,474 shares of the credit-card processor’s stock valued at $1,407,745,000 after purchasing an additional 250,000 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Visa by 10.9% during the second quarter. American Century Companies Inc. now owns 11,098,080 shares of the credit-card processor’s stock valued at $1,469,941,000 after purchasing an additional 1,091,838 shares during the last quarter. Finally, Polen Capital Management LLC raised its holdings in shares of Visa by 1.7% during the first quarter. Polen Capital Management LLC now owns 8,280,586 shares of the credit-card processor’s stock valued at $990,524,000 after purchasing an additional 141,165 shares during the last quarter. Hedge funds and other institutional investors own 80.18% of the company’s stock.

Shares of V stock opened at $140.06 on Friday. Visa Inc has a 12 month low of $106.60 and a 12 month high of $151.56. The company has a market cap of $305.32 billion, a price-to-earnings ratio of 40.25, a price-to-earnings-growth ratio of 1.86 and a beta of 1.06. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.69 and a quick ratio of 1.69.

Visa (NYSE:V) last announced its earnings results on Wednesday, July 25th. The credit-card processor reported $1.20 EPS for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.11. Visa had a net margin of 47.91% and a return on equity of 36.09%. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same period in the prior year, the company earned $0.86 earnings per share. The firm’s revenue was up 14.8% on a year-over-year basis. As a group, research analysts predict that Visa Inc will post 4.59 earnings per share for the current year.

V has been the subject of several research reports. Buckingham Research boosted their price objective on shares of Visa from $152.00 to $169.00 and gave the company a “buy” rating in a report on Tuesday, June 26th. Wells Fargo & Co boosted their price objective on shares of Visa from $143.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, July 12th. Oppenheimer boosted their price objective on shares of Visa from $143.00 to $154.00 and gave the company an “outperform” rating in a report on Tuesday, July 17th. Wolfe Research initiated coverage on shares of Visa in a report on Tuesday, July 17th. They set an “outperform” rating for the company. Finally, Bank of America boosted their price objective on shares of Visa from $146.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, July 17th. Two equities research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $153.97.

In other news, SVP James H. Hoffmeister sold 6,912 shares of the stock in a transaction on Monday, August 6th. The shares were sold at an average price of $140.01, for a total value of $967,749.12. Following the completion of the sale, the senior vice president now directly owns 6,912 shares of the company’s stock, valued at $967,749.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vasant M. Prabhu sold 25,064 shares of the stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $140.56, for a total transaction of $3,522,995.84. Following the completion of the sale, the chief financial officer now directly owns 58,232 shares of the company’s stock, valued at $8,185,089.92. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Visa Company Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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