Riverbridge Partners LLC grew its position in Visa Inc (NYSE:V) by 3.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 202,121 shares of the credit-card processor’s stock after purchasing an additional 7,331 shares during the period. Riverbridge Partners LLC’s holdings in Visa were worth $39,044,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Foundations Investment Advisors LLC grew its holdings in Visa by 2.9% during the first quarter. Foundations Investment Advisors LLC now owns 5,750 shares of the credit-card processor’s stock worth $880,000 after acquiring an additional 161 shares during the period. Blair William & Co. IL grew its holdings in Visa by 0.3% during the fourth quarter. Blair William & Co. IL now owns 2,653,438 shares of the credit-card processor’s stock worth $498,581,000 after acquiring an additional 7,371 shares during the period. Pantheon Investment Group LLC acquired a new stake in Visa during the fourth quarter worth about $1,715,000. Private Portfolio Partners LLC grew its holdings in Visa by 6.4% during the first quarter. Private Portfolio Partners LLC now owns 3,881 shares of the credit-card processor’s stock worth $625,000 after acquiring an additional 233 shares during the period. Finally, Change Path LLC grew its holdings in Visa by 2.9% during the fourth quarter. Change Path LLC now owns 3,634 shares of the credit-card processor’s stock worth $683,000 after acquiring an additional 101 shares during the period. 81.59% of the stock is currently owned by institutional investors and hedge funds.
NYSE V traded down $0.03 during trading hours on Wednesday, hitting $194.17. The company had a trading volume of 4,638,713 shares, compared to its average volume of 8,242,888. Visa Inc has a fifty-two week low of $133.93 and a fifty-two week high of $214.17. The company has a market capitalization of $378.15 billion, a price-to-earnings ratio of 35.00, a P/E/G ratio of 3.14 and a beta of 0.92. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.25 and a quick ratio of 1.25. The firm’s 50 day moving average is $193.86 and its 200 day moving average is $186.40.
Visa (NYSE:V) last announced its quarterly earnings results on Thursday, April 30th. The credit-card processor reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.04. Visa had a return on equity of 43.45% and a net margin of 52.26%. The firm had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.75 billion. During the same period in the prior year, the firm earned $1.31 EPS. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities analysts anticipate that Visa Inc will post 5 EPS for the current year.
In other news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $181.78, for a total transaction of $1,272,460.00. Following the transaction, the chief executive officer now owns 139,090 shares of the company’s stock, valued at $25,283,780.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Ryan Mcinerney sold 26,150 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $191.87, for a total transaction of $5,017,400.50. The disclosure for this sale can be found here. Insiders have sold 50,429 shares of company stock worth $9,654,214 in the last ninety days. Corporate insiders own 0.19% of the company’s stock.
A number of equities analysts have issued reports on the company. Oppenheimer assumed coverage on Visa in a research report on Tuesday, June 23rd. They set an “outperform” rating and a $202.00 price target on the stock. Cowen raised their target price on Visa from $189.00 to $196.00 and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Robert W. Baird lifted their price objective on Visa from $166.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 31st. Royal Bank of Canada lifted their price objective on Visa from $195.00 to $212.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Finally, Wedbush lifted their target price on Visa from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Five analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Visa currently has an average rating of “Buy” and a consensus target price of $206.15.
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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