Parkside Investments LLC purchased a new position in Visa Inc. (NYSE:V – Free Report) during the fourth quarter, Holdings Channel reports. The fund purchased 694 shares of the credit-card processor’s stock, valued at approximately $219,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crescent Grove Advisors LLC grew its holdings in shares of Visa by 2.2% during the fourth quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock valued at $454,000 after buying an additional 31 shares during the last quarter. Phoenix Wealth Advisors boosted its stake in Visa by 3.4% during the 4th quarter. Phoenix Wealth Advisors now owns 964 shares of the credit-card processor’s stock valued at $305,000 after purchasing an additional 32 shares during the last quarter. Unionview LLC increased its holdings in shares of Visa by 1.5% in the 3rd quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after purchasing an additional 33 shares in the last quarter. Forza Wealth Management LLC raised its stake in shares of Visa by 2.9% in the fourth quarter. Forza Wealth Management LLC now owns 1,164 shares of the credit-card processor’s stock worth $368,000 after purchasing an additional 33 shares during the last quarter. Finally, Presilium Private Wealth LLC lifted its holdings in shares of Visa by 2.2% during the fourth quarter. Presilium Private Wealth LLC now owns 1,503 shares of the credit-card processor’s stock valued at $475,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.
Wall Street Analyst Weigh In
V has been the subject of a number of recent analyst reports. BMO Capital Markets boosted their target price on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Bank of America increased their price objective on shares of Visa from $314.00 to $331.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Royal Bank of Canada lifted their target price on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Finally, Macquarie lifted their price objective on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $335.52.
Insider Buying and Selling
In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.
Visa Stock Performance
NYSE V opened at $336.45 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $337.83. The business has a 50-day moving average price of $315.85 and a 200-day moving average price of $291.78. The firm has a market cap of $626.76 billion, a price-to-earnings ratio of 34.58, a price-to-earnings-growth ratio of 2.17 and a beta of 0.96.
Visa (NYSE:V – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the prior year, the company posted $2.33 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities research analysts predict that Visa Inc. will post 11.19 EPS for the current fiscal year.
Visa Company Profile
Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.
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