Douglas Lane & Associates LLC trimmed its holdings in shares of Visa Inc (NYSE:V) by 7.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 793,707 shares of the credit-card processor’s stock after selling 68,225 shares during the quarter. Visa accounts for about 1.9% of Douglas Lane & Associates LLC’s portfolio, making the stock its 6th largest position. Douglas Lane & Associates LLC’s holdings in Visa were worth $83,530,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in V. Vantage Financial Partners Ltd. Inc. acquired a new position in Visa in the 2nd quarter worth about $958,000. Motco raised its holdings in shares of Visa by 25.1% during the second quarter. Motco now owns 1,176 shares of the credit-card processor’s stock valued at $110,000 after acquiring an additional 236 shares during the last quarter. MPS Loria Financial Planners LLC acquired a new position in shares of Visa during the second quarter valued at approximately $123,000. BDO Wealth Advisors LLC acquired a new position in shares of Visa during the second quarter valued at approximately $115,000. Finally, Mascoma Wealth Management LLC acquired a new position in shares of Visa during the second quarter valued at approximately $122,000. Hedge funds and other institutional investors own 81.50% of the company’s stock.
Visa Inc (NYSE:V) traded up $0.24 during midday trading on Friday, hitting $120.09. The company had a trading volume of 5,590,000 shares, compared to its average volume of 8,920,000. Visa Inc has a 52-week low of $80.51 and a 52-week high of $120.48. The stock has a market capitalization of $272,150.00, a price-to-earnings ratio of 42.89, a P/E/G ratio of 1.75 and a beta of 0.99. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.90 and a current ratio of 1.90.
Visa (NYSE:V) last announced its quarterly earnings data on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.05. Visa had a return on equity of 31.80% and a net margin of 36.49%. The company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same quarter in the previous year, the company earned $0.78 EPS. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. equities analysts forecast that Visa Inc will post 4.07 EPS for the current year.
In related news, SVP James H. Hoffmeister sold 2,146 shares of Visa stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 687 shares in the company, valued at approximately $77,005.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tullier Kelly Mahon sold 49,702 shares of Visa stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $113.66, for a total value of $5,649,129.32. Following the transaction, the executive vice president now owns 76,202 shares of the company’s stock, valued at $8,661,119.32. The disclosure for this sale can be found here. Insiders sold a total of 58,068 shares of company stock worth $6,597,262 in the last ninety days. 0.14% of the stock is owned by corporate insiders.
A number of equities research analysts have recently issued reports on the company. Wells Fargo & Co upgraded Visa from a “market perform” rating to an “outperform” rating and upped their price target for the company from $107.01 to $120.00 in a research report on Tuesday, October 10th. Zacks Investment Research lowered Visa from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Cantor Fitzgerald assumed coverage on Visa in a research report on Thursday, September 28th. They issued an “overweight” rating and a $120.00 price objective for the company. Vetr lowered Visa from a “buy” rating to a “hold” rating and set a $121.05 price target for the company. in a research report on Monday, January 8th. Finally, Buckingham Research raised their price target on Visa from $129.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Four research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $122.03.
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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