Biltmore Wealth Management LLC Sells 136 Shares of Visa Inc (NYSE:V)
Biltmore Wealth Management LLC lowered its holdings in Visa Inc (NYSE:V) by 5.9% in the third quarter, Holdings Channel reports. The firm owned 2,163 shares of the credit-card processor’s stock after selling 136 shares during the quarter. Biltmore Wealth Management LLC’s holdings in Visa were worth $372,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Mn Services Vermogensbeheer B.V. grew its stake in Visa by 213.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 897,085 shares of the credit-card processor’s stock worth $103,540,000 after purchasing an additional 610,476 shares in the last quarter. Paradigm Financial Partners LLC acquired a new position in shares of Visa during the 4th quarter worth about $2,436,000. Freestone Capital Holdings LLC boosted its position in shares of Visa by 29.5% during the 4th quarter. Freestone Capital Holdings LLC now owns 16,023 shares of the credit-card processor’s stock worth $2,114,000 after acquiring an additional 3,646 shares in the last quarter. Accident Compensation Corp boosted its position in shares of Visa by 2.9% during the 4th quarter. Accident Compensation Corp now owns 39,440 shares of the credit-card processor’s stock worth $5,204,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Riverview Trust Co acquired a new position in shares of Visa during the 4th quarter worth about $542,000. 80.99% of the stock is owned by institutional investors and hedge funds.
In other news, Director Denise M. Morrison bought 1,000 shares of Visa stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $171.13 per share, with a total value of $171,130.00. Following the acquisition, the director now owns 3,223 shares of the company’s stock, valued at $551,551.99. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Vasant M. Prabhu sold 25,051 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.14, for a total value of $4,537,738.14. Following the completion of the sale, the insider now directly owns 62,223 shares of the company’s stock, valued at $11,271,074.22. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.
Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.04. Visa had a return on equity of 41.04% and a net margin of 53.43%. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the business earned $1.20 EPS. The business’s quarterly revenue was up 11.5% on a year-over-year basis. Analysts predict that Visa Inc will post 5.4 EPS for the current fiscal year.
V has been the subject of several analyst reports. UBS Group upped their price objective on Visa from $183.00 to $187.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. ValuEngine cut Visa from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Robert W. Baird set a $196.00 price objective on Visa and gave the stock a “buy” rating in a research report on Friday, July 19th. Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating and set a $180.00 price objective for the company. in a research report on Saturday, June 15th. Finally, Raymond James upped their price objective on Visa from $177.00 to $193.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Visa presently has an average rating of “Buy” and an average price target of $196.57.
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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