Wendell David Associates Inc. increased its position in Visa Inc (NYSE:V) by 15.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,851 shares of the credit-card processor’s stock after acquiring an additional 1,700 shares during the quarter. Wendell David Associates Inc.’s holdings in Visa were worth $1,352,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Visa by 2.1% in the second quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock valued at $11,911,973,000 after purchasing an additional 2,628,148 shares in the last quarter. BlackRock Inc. lifted its position in shares of Visa by 1.3% during the second quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock worth $10,751,846,000 after purchasing an additional 1,440,034 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Visa by 3.0% during the second quarter. Fisher Asset Management LLC now owns 15,616,151 shares of the credit-card processor’s stock worth $1,464,483,000 after purchasing an additional 452,183 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Visa by 20.3% during the second quarter. Capital Research Global Investors now owns 11,394,893 shares of the credit-card processor’s stock worth $1,068,613,000 after purchasing an additional 1,919,732 shares during the last quarter. Finally, Polen Capital Management LLC lifted its position in shares of Visa by 7.7% during the second quarter. Polen Capital Management LLC now owns 10,425,812 shares of the credit-card processor’s stock worth $977,733,000 after purchasing an additional 745,312 shares during the last quarter. 81.50% of the stock is owned by institutional investors.
V has been the topic of several research reports. Wells Fargo & Co restated an “outperform” rating and set a $135.00 price target (up previously from $127.00) on shares of Visa in a research note on Tuesday. Stephens reiterated a “buy” rating and issued a $135.00 target price on shares of Visa in a research note on Wednesday. Vetr lowered Visa from a “buy” rating to a “hold” rating and set a $121.05 target price on the stock. in a research note on Monday. Credit Suisse Group set a $129.00 target price on Visa and gave the company a “buy” rating in a research note on Monday. Finally, Barclays restated a “buy” rating and set a $145.00 price target on shares of Visa in a research note on Friday, January 5th. Four equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $120.94.
Visa (NYSE:V) last announced its quarterly earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.05. Visa had a return on equity of 31.80% and a net margin of 36.49%. The business had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same quarter in the prior year, the company posted $0.78 EPS. The company’s quarterly revenue was up 13.9% on a year-over-year basis. analysts predict that Visa Inc will post 4.07 EPS for the current year.
In other Visa news, Director Robert W. Matschullat sold 6,220 shares of the stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $113.76, for a total value of $707,587.20. Following the sale, the director now owns 57,368 shares of the company’s stock, valued at approximately $6,526,183.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James H. Hoffmeister sold 2,146 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $112.09, for a total value of $240,545.14. Following the completion of the transaction, the senior vice president now owns 687 shares in the company, valued at approximately $77,005.83. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,068 shares of company stock worth $6,597,262. 0.14% of the stock is owned by corporate insiders.
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Visa Company Profile
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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