Miracle Mile Advisors LLC Sells 4,840 Shares of Visa Inc (NYSE:V)

Miracle Mile Advisors LLC reduced its position in shares of Visa Inc (NYSE:V) by 12.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,488 shares of the credit-card processor’s stock after selling 4,840 shares during the period. Miracle Mile Advisors LLC’s holdings in Visa were worth $5,932,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Trillium Asset Management LLC increased its position in Visa by 11.9% in the 3rd quarter. Trillium Asset Management LLC now owns 49,975 shares of the credit-card processor’s stock valued at $8,597,000 after acquiring an additional 5,313 shares in the last quarter. Tiedemann Advisors LLC increased its position in Visa by 99.4% in the 3rd quarter. Tiedemann Advisors LLC now owns 24,308 shares of the credit-card processor’s stock valued at $4,181,000 after acquiring an additional 12,117 shares in the last quarter. Insight Wealth Strategies LLC increased its position in Visa by 11.1% in the 3rd quarter. Insight Wealth Strategies LLC now owns 22,718 shares of the credit-card processor’s stock valued at $3,908,000 after acquiring an additional 2,276 shares in the last quarter. Everett Harris & Co. CA increased its position in Visa by 8.8% in the 3rd quarter. Everett Harris & Co. CA now owns 1,808 shares of the credit-card processor’s stock valued at $311,000 after acquiring an additional 146 shares in the last quarter. Finally, Bogart Wealth LLC increased its position in Visa by 11.1% in the 3rd quarter. Bogart Wealth LLC now owns 3,766 shares of the credit-card processor’s stock valued at $648,000 after acquiring an additional 376 shares in the last quarter. 80.97% of the stock is owned by hedge funds and other institutional investors.

V has been the subject of several analyst reports. Goldman Sachs Group reiterated a “buy” rating and set a $202.00 price target on shares of Visa in a research report on Wednesday, July 24th. Piper Jaffray Companies set a $207.00 price target on shares of Visa and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Raymond James lifted their price target on shares of Visa from $193.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Barclays lifted their price target on shares of Visa from $181.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, Nomura lifted their price target on shares of Visa from $178.00 to $204.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Visa currently has a consensus rating of “Buy” and a consensus target price of $199.04.

In related news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $177.79, for a total transaction of $1,244,530.00. Following the completion of the sale, the chief executive officer now owns 55,446 shares of the company’s stock, valued at $9,857,744.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vasant M. Prabhu sold 25,051 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.14, for a total transaction of $4,537,738.14. Following the sale, the insider now directly owns 62,223 shares of the company’s stock, valued at approximately $11,271,074.22. The disclosure for this sale can be found here. Insiders sold 53,215 shares of company stock worth $9,564,487 over the last 90 days. 0.17% of the stock is currently owned by corporate insiders.

Shares of V stock traded up $0.03 during trading on Thursday, reaching $179.44. The company’s stock had a trading volume of 2,801,405 shares, compared to its average volume of 6,796,171. The business has a fifty day moving average price of $176.59 and a 200-day moving average price of $173.79. The company has a quick ratio of 1.69, a current ratio of 1.56 and a debt-to-equity ratio of 0.57. The company has a market cap of $356.19 billion, a price-to-earnings ratio of 32.99, a price-to-earnings-growth ratio of 1.86 and a beta of 0.94. Visa Inc has a one year low of $121.60 and a one year high of $187.05.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, October 24th. The credit-card processor reported $1.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.04. Visa had a net margin of 52.57% and a return on equity of 42.57%. The firm had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $6.08 billion. During the same period in the previous year, the company earned $1.21 earnings per share. The company’s quarterly revenue was up 12.9% on a year-over-year basis. Research analysts anticipate that Visa Inc will post 6.21 EPS for the current year.

The firm also recently declared a dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be paid a $0.30 dividend. The ex-dividend date is Thursday, November 14th. Visa’s dividend payout ratio (DPR) is presently 18.38%.

Visa 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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