Price Wealth LLC Buys 1,386 Shares of Visa Inc (NYSE:V)
Price Wealth LLC boosted its stake in shares of Visa Inc (NYSE:V) by 729.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,576 shares of the credit-card processor’s stock after purchasing an additional 1,386 shares during the period. Price Wealth LLC’s holdings in Visa were worth $315,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of V. APG Asset Management N.V. grew its stake in shares of Visa by 13.4% during the 1st quarter. APG Asset Management N.V. now owns 3,027,411 shares of the credit-card processor’s stock valued at $487,776,000 after purchasing an additional 356,828 shares during the period. Park National Corp OH grew its position in Visa by 5.5% during the second quarter. Park National Corp OH now owns 127,035 shares of the credit-card processor’s stock valued at $24,539,000 after buying an additional 6,650 shares during the period. Birch Capital Management LLC increased its holdings in Visa by 14.6% during the second quarter. Birch Capital Management LLC now owns 2,755 shares of the credit-card processor’s stock valued at $532,000 after buying an additional 352 shares during the last quarter. First Financial Bank Trust Division raised its position in Visa by 2.7% in the second quarter. First Financial Bank Trust Division now owns 61,674 shares of the credit-card processor’s stock worth $11,913,000 after acquiring an additional 1,611 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in shares of Visa by 2.1% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 16,467 shares of the credit-card processor’s stock worth $3,180,000 after acquiring an additional 335 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.
In related news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $195.00, for a total transaction of $1,365,000.00. Following the sale, the chief executive officer now owns 130,090 shares in the company, valued at approximately $25,367,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lloyd Carney sold 1,550 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $192.64, for a total value of $298,592.00. Following the completion of the sale, the director now owns 2,962 shares of the company’s stock, valued at $570,599.68. The disclosure for this sale can be found here. Insiders have sold a total of 118,122 shares of company stock worth $24,748,541 over the last 90 days. Corporate insiders own 0.19% of the company’s stock.
Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. Visa had a net margin of 51.37% and a return on equity of 40.65%. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the firm earned $1.37 earnings per share. Visa’s revenue was down 18.6% on a year-over-year basis. As a group, equities analysts forecast that Visa Inc will post 5.01 EPS for the current year.
Several equities research analysts have recently commented on V shares. Jefferies Financial Group upped their price objective on Visa from $185.00 to $205.00 and gave the stock a “hold” rating in a research note on Friday, October 2nd. Goldman Sachs Group assumed coverage on Visa in a research report on Tuesday, July 14th. They issued a “buy” rating and a $223.00 price target for the company. Morgan Stanley lifted their price objective on Visa from $196.00 to $203.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Piper Sandler boosted their price objective on Visa from $200.00 to $206.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Visa from $186.00 to $229.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. Six analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $215.62.
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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