Global Endowment Management LP Invests $8,666,000 in Visa Inc. (V)

Global Endowment Management LP Invests $8,666,000 in Visa Inc. (V)

Global Endowment Management LP purchased a new position in shares of Visa Inc. (NYSE:V) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 104,790 shares of the credit-card processor’s stock, valued at approximately $8,666,000. Visa comprises approximately 1.4% of Global Endowment Management LP’s portfolio, making the stock its 14th largest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Budros Ruhlin & Roe Inc. acquired a new stake in Visa during the third quarter worth approximately $387,000. Ropes Wealth Advisors LLC boosted its stake in Visa by 1.1% in the third quarter. Ropes Wealth Advisors LLC now owns 19,376 shares of the credit-card processor’s stock worth $1,602,000 after buying an additional 206 shares during the period. United Bank Inc. boosted its stake in Visa by 1.6% in the third quarter. United Bank Inc. now owns 4,369 shares of the credit-card processor’s stock worth $361,000 after buying an additional 70 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Visa during the third quarter worth approximately $676,000. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in Visa during the third quarter worth approximately $32,667,000. 80.65% of the stock is owned by institutional investors.

Shares of Visa Inc. (NYSE:V) traded up 0.48% during trading on Friday, reaching $83.64. The company had a trading volume of 4,204,079 shares. The stock’s 50-day moving average price is $80.18 and its 200-day moving average price is $80.60. The stock has a market capitalization of $195.72 billion, a PE ratio of 33.05 and a beta of 0.95. Visa Inc. has a 12 month low of $66.12 and a 12 month high of $84.27.

Visa (NYSE:V) last issued its quarterly earnings data on Monday, October 24th. The credit-card processor reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.05. The business earned $4.26 billion during the quarter. Visa had a net margin of 39.72% and a return on equity of 24.31%. Visa’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.62 EPS. Equities analysts forecast that Visa Inc. will post $3.29 earnings per share for the current fiscal year.

Several analysts recently commented on the company. Vetr upgraded Visa from a “buy” rating to a “strong-buy” rating and set a $84.80 price target for the company in a research report on Thursday, December 1st. Barclays PLC restated an “overweight” rating and issued a $100.00 target price (up from $90.00) on shares of Visa in a report on Friday, October 21st. BMO Capital Markets restated a “top pick” rating and issued a $99.00 target price on shares of Visa in a report on Friday, January 6th. Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating in a report on Friday, October 21st. Finally, Wedbush upgraded Visa from a “neutral” rating to an “outperform” rating and upped their target price for the company from $77.00 to $96.00 in a report on Friday, January 20th. Four equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $92.34.

In related news, President Ryan Mcinerney sold 18,500 shares of the stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $82.92, for a total value of $1,534,020.00. Following the completion of the transaction, the president now owns 12,548 shares of the company’s stock, valued at approximately $1,040,480.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

Visa Company Profile

Visa Inc is a payments technology company. The Company and its subsidiaries, including Visa U.SA Inc (Visa U.SA), Visa International Service Association (Visa International), Visa Worldwide Pte. Limited, Visa Canada Corporation, Inovant LLC and CyberSource Corporation (CyberSource), operate a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions around the world.

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