Groesbeck Investment Management Corp NJ raised its position in shares of Visa Inc. (NYSE:V) by 11.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,057 shares of the credit-card processor’s stock after buying an additional 609 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Visa were worth $501,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of V. Capital International Investors increased its stake in shares of Visa by 19.7% in the second quarter. Capital International Investors now owns 9,156,501 shares of the credit-card processor’s stock worth $679,138,000 after buying an additional 1,504,167 shares in the last quarter. Carmignac Gestion increased its stake in Visa by 20.8% in the second quarter. Carmignac Gestion now owns 8,224,233 shares of the credit-card processor’s stock valued at $609,991,000 after buying an additional 1,418,029 shares during the period. Hitchwood Capital Management LP acquired a new stake in Visa during the second quarter valued at $103,838,000. Egerton Capital UK LLP increased its stake in Visa by 42.1% in the third quarter. Egerton Capital UK LLP now owns 4,582,154 shares of the credit-card processor’s stock valued at $378,944,000 after buying an additional 1,357,047 shares during the period. Finally, Prudential PLC increased its stake in Visa by 1,179.9% in the second quarter. Prudential PLC now owns 1,437,408 shares of the credit-card processor’s stock valued at $106,613,000 after buying an additional 1,325,100 shares during the period. 80.65% of the stock is owned by hedge funds and other institutional investors.
Shares of Visa Inc. (NYSE:V) traded up 0.48% during mid-day trading on Friday, reaching $83.64. The company’s stock had a trading volume of 4,204,079 shares. The firm has a market capitalization of $195.72 billion, a P/E ratio of 33.05 and a beta of 0.95. Visa Inc. has a 1-year low of $66.12 and a 1-year high of $84.27. The company’s 50-day moving average is $80.18 and its 200 day moving average is $80.60.
Visa (NYSE:V) last posted its quarterly earnings results on Monday, October 24th. The credit-card processor reported $0.78 EPS for the quarter, beating the consensus estimate of $0.73 by $0.05. The business earned $4.26 billion during the quarter. Visa had a return on equity of 24.31% and a net margin of 39.72%. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 earnings per share. On average, analysts expect that Visa Inc. will post $3.29 earnings per share for the current year.
Several analysts have recently weighed in on V shares. Vetr downgraded Visa from a “buy” rating to a “hold” rating and set a $84.76 target price for the company. in a research report on Monday, November 21st. Drexel Hamilton upgraded Visa from a “hold” rating to a “buy” rating in a research note on Monday, October 24th. Stifel Nicolaus cut their price target on Visa from $94.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, October 25th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $99.00 price target on shares of Visa in a research note on Friday, October 14th. Finally, Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Tuesday, October 4th. Four investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $92.34.
In related news, President Ryan Mcinerney sold 18,500 shares of Visa stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $82.92, for a total transaction of $1,534,020.00. Following the completion of the transaction, the president now directly owns 12,548 shares of the company’s stock, valued at $1,040,480.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.14% of the stock is owned by company 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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