Allred Capital Management LLC lifted its stake in shares of Visa Inc (NYSE:V) by 14.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,264 shares of the credit-card processor’s stock after acquiring an additional 524 shares during the period. Allred Capital Management LLC’s holdings in Visa were worth $852,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Visa by 2.3% during the 2nd quarter. BlackRock Inc. now owns 126,278,384 shares of the credit-card processor’s stock valued at $24,393,195,000 after acquiring an additional 2,819,598 shares during the period. Capital International Investors lifted its position in shares of Visa by 6.1% during the 1st quarter. Capital International Investors now owns 21,881,462 shares of the credit-card processor’s stock valued at $3,525,557,000 after acquiring an additional 1,250,002 shares during the period. Fisher Asset Management LLC lifted its position in shares of Visa by 3.2% during the 2nd quarter. Fisher Asset Management LLC now owns 20,979,235 shares of the credit-card processor’s stock valued at $4,052,559,000 after acquiring an additional 660,147 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Visa by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,917,898 shares of the credit-card processor’s stock valued at $3,268,029,000 after acquiring an additional 260,069 shares during the period. Finally, Nuveen Asset Management LLC lifted its position in shares of Visa by 5.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 16,193,092 shares of the credit-card processor’s stock valued at $3,128,020,000 after acquiring an additional 862,914 shares during the period. Institutional investors own 80.74% of the company’s stock.
Visa stock opened at $200.26 on Friday. The business has a 50-day simple moving average of $203.88 and a two-hundred day simple moving average of $191.62. The company has a market cap of $388.98 billion, a P/E ratio of 38.14, a P/E/G ratio of 3.05 and a beta of 0.90. Visa Inc has a 52-week low of $133.93 and a 52-week high of $217.35. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.59.
Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.85 billion. Visa had a return on equity of 40.65% and a net margin of 51.37%. The business’s quarterly revenue was down 18.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.37 EPS. Research analysts anticipate that Visa Inc will post 5.01 EPS for the current fiscal year.
In related news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $195.00, for a total value of $1,365,000.00. Following the transaction, the chief executive officer now directly owns 130,090 shares of the company’s stock, valued at approximately $25,367,550. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Rajat Taneja sold 45,036 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $210.00, for a total value of $9,457,560.00. Over the last ninety days, insiders have sold 118,122 shares of company stock worth $24,748,541. Insiders own 0.19% of the company’s stock.
A number of research firms recently issued reports on V. JPMorgan Chase & Co. boosted their target price on shares of Visa from $186.00 to $229.00 and gave the company an “overweight” rating in a research report on Monday, August 17th. Morgan Stanley upped their target price on shares of Visa from $196.00 to $203.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Piper Sandler increased their price target on shares of Visa from $200.00 to $206.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Goldman Sachs Group began coverage on shares of Visa in a report on Tuesday, July 14th. They set a “buy” rating and a $223.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $243.00 price objective on shares of Visa in a report on Sunday, October 11th. Six equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $214.72.
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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