Visa Inc (V) Stake Lessened by Chase Investment Counsel Corp

Chase Investment Counsel Corp decreased its holdings in shares of Visa Inc (NYSE:V) by 13.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,100 shares of the credit-card processor’s stock after selling 8,730 shares during the period. Visa comprises approximately 3.0% of Chase Investment Counsel Corp’s holdings, making the stock its 7th largest position. Chase Investment Counsel Corp’s holdings in Visa were worth $5,798,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of V. Alps Advisors Inc. bought a new position in Visa in the 3rd quarter worth $642,000. Jennison Associates LLC boosted its holdings in Visa by 1.0% in the 3rd quarter. Jennison Associates LLC now owns 21,283,466 shares of the credit-card processor’s stock worth $2,239,872,000 after buying an additional 209,764 shares during the period. Candriam Luxembourg S.C.A. boosted its holdings in Visa by 33.5% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 334,543 shares of the credit-card processor’s stock worth $35,207,000 after buying an additional 84,014 shares during the period. YCG LLC bought a new position in Visa in the 3rd quarter worth $438,000. Finally, Pax World Management LLC boosted its holdings in Visa by 6.9% in the 3rd quarter. Pax World Management LLC now owns 15,538 shares of the credit-card processor’s stock worth $1,635,000 after buying an additional 1,000 shares during the period. 81.55% of the stock is owned by hedge funds and other institutional investors.

Shares of Visa Inc (NYSE V) opened at $121.98 on Thursday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. The company has a market cap of $276,430.00, a price-to-earnings ratio of 43.56, a price-to-earnings-growth ratio of 1.75 and a beta of 0.99. Visa Inc has a one year low of $80.98 and a one year high of $122.16.

Visa (NYSE:V) last announced its earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.05. The firm had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.63 billion. Visa had a net margin of 36.49% and a return on equity of 31.80%. The business’s revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 EPS. equities analysts forecast that Visa Inc will post 4.08 earnings per share for the current year.

In related news, Director Robert W. Matschullat sold 6,220 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $113.76, for a total value of $707,587.20. Following the sale, the director now directly 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 accessible through the SEC website. Also, SVP James H. Hoffmeister sold 2,146 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $112.09, for a total transaction of $240,545.14. Following the completion of the sale, the senior vice president now directly owns 687 shares in the company, valued at $77,005.83. The disclosure for this sale can be found here. Insiders have sold a total of 58,068 shares of company stock worth $6,597,262 over the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Several brokerages recently weighed in on V. Citigroup reaffirmed a “buy” rating and issued a $136.00 target price (up previously from $124.00) on shares of Visa in a report on Friday, January 12th. Cowen reaffirmed a “buy” rating and issued a $129.00 target price on shares of Visa in a report on Friday, January 12th. Vetr raised shares of Visa from a “hold” rating to a “buy” rating and set a $108.51 target price for the company in a report on Tuesday, September 26th. Loop Capital upped their target price on shares of Visa from $111.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $122.00 target price on shares of Visa in a report on Tuesday, September 26th. Four equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $122.03.

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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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Institutional Ownership by Quarter for Visa (NYSE:V)

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