Cedar Mountain Advisors LLC raised its position in shares of Visa Inc (NYSE:V) by 102.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158 shares of the credit-card processor’s stock after acquiring an additional 80 shares during the quarter. Cedar Mountain Advisors LLC’s holdings in Visa were worth $31,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in V. Vigilare Wealth Management acquired a new position in shares of Visa during the fourth quarter valued at approximately $2,072,000. Marshall Wace LLP acquired a new position in shares of Visa during the fourth quarter valued at approximately $4,213,000. Altavista Wealth Management Inc. acquired a new position in shares of Visa during the fourth quarter valued at approximately $203,000. Advisors Asset Management Inc. grew its position in shares of Visa by 1.4% in the fourth quarter. Advisors Asset Management Inc. now owns 460,872 shares of the credit-card processor’s stock valued at $86,595,000 after purchasing an additional 6,240 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of Visa by 22.8% in the fourth quarter. Point72 Asset Management L.P. now owns 562,411 shares of the credit-card processor’s stock valued at $105,677,000 after purchasing an additional 104,284 shares during the last quarter. 81.41% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on the company. Cowen boosted their price objective on Visa from $189.00 to $196.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. Royal Bank of Canada boosted their price target on shares of Visa from $195.00 to $212.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Oppenheimer started coverage on shares of Visa in a research report on Tuesday, June 23rd. They set an “outperform” rating and a $202.00 price target on the stock. Citigroup boosted their price target on shares of Visa from $205.00 to $223.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Finally, KeyCorp lowered their price target on shares of Visa from $220.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, March 23rd. Five research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $207.62.
In related news, President Ryan Mcinerney sold 26,150 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $191.87, for a total transaction of $5,017,400.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $181.78, for a total transaction of $1,272,460.00. Following the sale, the chief executive officer now directly owns 139,090 shares in the company, valued at approximately $25,283,780.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,429 shares of company stock worth $9,654,214. Company insiders own 0.19% of the company’s stock.
Shares of Visa stock opened at $198.47 on Tuesday. Visa Inc has a 52-week low of $133.93 and a 52-week high of $214.17. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.48. The company’s 50-day simple moving average is $194.27 and its 200-day simple moving average is $186.79. The firm has a market cap of $379.16 billion, a price-to-earnings ratio of 34.29, a price-to-earnings-growth ratio of 3.09 and a beta of 0.92.
Visa (NYSE:V) last issued its quarterly earnings results on Thursday, April 30th. The credit-card processor reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.04. Visa had a net margin of 52.26% and a return on equity of 43.45%. The business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.75 billion. During the same period in the previous year, the business posted $1.31 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc will post 5 EPS for the current year.
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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