First American Trust FSB Grows Position in Visa Inc (NYSE:V)
First American Trust FSB raised its holdings in shares of Visa Inc (NYSE:V) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,098 shares of the credit-card processor’s stock after buying an additional 247 shares during the quarter. Visa comprises about 1.3% of First American Trust FSB’s portfolio, making the stock its 22nd biggest holding. First American Trust FSB’s holdings in Visa were worth $6,726,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the company. Krane Funds Advisors LLC purchased a new position in Visa in the second quarter worth approximately $26,000. Lowe Wealth Advisors LLC grew its holdings in shares of Visa by 114.7% during the 2nd quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 86 shares during the period. Personal Wealth Partners purchased a new position in shares of Visa during the 2nd quarter worth $30,000. Mcmillion Capital Management Inc. purchased a new position in shares of Visa during the 2nd quarter worth $38,000. Finally, Hexavest Inc. purchased a new position in shares of Visa during the 2nd quarter worth $40,000. 80.99% of the stock is owned by institutional investors and hedge funds.
In other news, insider Vasant M. Prabhu sold 25,051 shares of Visa stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.14, for a total value of $4,537,738.14. Following the completion of the transaction, the insider now owns 62,223 shares in the company, valued at approximately $11,271,074.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lloyd Carney sold 3,500 shares of Visa stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $182.73, for a total value of $639,555.00. Following the completion of the transaction, the director now owns 3,452 shares of the company’s stock, valued at approximately $630,783.96. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.
Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.04. Visa had a net margin of 53.43% and a return on equity of 41.04%. The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter last year, the company posted $1.20 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. On average, sell-side analysts expect that Visa Inc will post 5.41 earnings per share for the current fiscal year.
A number of equities analysts have recently weighed in on the company. Citigroup increased their price target on Visa from $185.00 to $206.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Barclays increased their target price on shares of Visa from $181.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Goldman Sachs Group reaffirmed a “buy” rating and set a $202.00 target price on shares of Visa in a research note on Wednesday, July 24th. SunTrust Banks increased their target price on shares of Visa to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Nomura increased their target price on shares of Visa from $178.00 to $204.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The company currently has a consensus 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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