Biltmore Wealth Management LLC lowered its holdings in Visa Inc (NYSE:V) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,163 shares of the credit-card processor’s stock after selling 136 shares during the quarter. Biltmore Wealth Management LLC’s holdings in Visa were worth $372,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Krane Funds Advisors LLC bought a new stake in Visa during the second quarter worth about $26,000. Lowe Wealth Advisors LLC grew its stake in Visa by 114.7% during the second quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock worth $28,000 after buying an additional 86 shares during the last quarter. Personal Wealth Partners bought a new stake in Visa during the second quarter worth about $30,000. Mcmillion Capital Management Inc. bought a new stake in Visa during the second quarter worth about $38,000. Finally, Hexavest Inc. bought a new stake in Visa during the second quarter worth about $40,000. 80.99% of the stock is currently owned by institutional investors and hedge funds.
NYSE V traded up $2.43 during trading hours on Wednesday, hitting $174.85. The company’s stock had a trading volume of 320,155 shares, compared to its average volume of 7,694,337. The stock has a fifty day moving average of $177.29 and a 200 day moving average of $170.32. Visa Inc has a twelve month low of $121.60 and a twelve month high of $187.05. The firm has a market capitalization of $349.13 billion, a P/E ratio of 37.93, a PEG ratio of 1.81 and a beta of 0.96. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.57.
Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.04. Visa had a net margin of 53.43% and a return on equity of 41.04%. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the business posted $1.20 earnings per share. Visa’s revenue was up 11.5% compared to the same quarter last year. On average, analysts predict that Visa Inc will post 5.4 earnings per share for the current year.
V has been the topic of several research analyst reports. Barclays upped their price objective on shares of Visa from $181.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Credit Suisse Group upped their price objective on shares of Visa from $200.00 to $203.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. SunTrust Banks upped their target price on shares of Visa to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Jefferies Financial Group upped their target price on shares of Visa from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating and set a $180.00 target price on the stock. in a research report on Saturday, June 15th. Three research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $196.57.
In related news, Director Lloyd Carney sold 3,500 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $182.73, for a total value of $639,555.00. Following the transaction, the director now directly owns 3,452 shares in the company, valued at $630,783.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Denise M. Morrison acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average price of $171.13 per share, for a total transaction of $171,130.00. Following the completion of the acquisition, the director now directly owns 3,223 shares of the company’s stock, valued at $551,551.99. The disclosure for this purchase can be found here. Corporate insiders own 0.17% 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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