First Manhattan Co. lifted its holdings in Visa Inc. (NYSE:V) by 2.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 78,153 shares of the credit-card processor’s stock after buying an additional 1,509 shares during the quarter. First Manhattan Co.’s holdings in Visa were worth $7,329,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp increased its holdings in shares of Visa by 0.9% in the 1st quarter. State Street Corp now owns 83,471,859 shares of the credit-card processor’s stock valued at $7,418,151,000 after acquiring an additional 722,878 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Visa by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 18,286,230 shares of the credit-card processor’s stock valued at $1,625,097,000 after acquiring an additional 73,926 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Visa by 3.0% in the 2nd quarter. Fisher Asset Management LLC now owns 15,616,151 shares of the credit-card processor’s stock valued at $1,464,483,000 after acquiring an additional 452,183 shares during the period. MUFG Securities EMEA plc increased its holdings in shares of Visa by 7.0% in the 1st quarter. MUFG Securities EMEA plc now owns 11,768,474 shares of the credit-card processor’s stock valued at $1,045,864,000 after acquiring an additional 775,000 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in shares of Visa by 41.4% in the 1st quarter. Clearbridge Investments LLC now owns 9,145,672 shares of the credit-card processor’s stock valued at $812,776,000 after acquiring an additional 2,677,533 shares during the period. Hedge funds and other institutional investors own 81.68% of the company’s stock.
A number of brokerages have recently issued reports on V. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $100.12 price target on the stock in a report on Tuesday, June 27th. Instinet lifted their price target on Visa from $105.00 to $120.00 and gave the company a “buy” rating in a report on Friday, July 21st. Wells Fargo & Company reiterated a “market perform” rating and issued a $100.00 price target (up from $87.50) on shares of Visa in a report on Saturday, July 22nd. Citigroup Inc. reiterated a “buy” rating and issued a $115.00 price target (up from $100.00) on shares of Visa in a report on Monday, July 24th. Finally, Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Two investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $108.76.
In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total value of $3,004,292.52. Following the transaction, the executive vice president now owns 17,360 shares in the company, valued at approximately $1,751,797.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary B. Cranston sold 10,400 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total transaction of $1,074,528.00. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
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Shares of Visa Inc. (NYSE V) opened at 107.31 on Wednesday. The stock has a market cap of $245.36 billion, a price-to-earnings ratio of 39.91 and a beta of 0.94. The stock’s 50 day moving average price is $104.76 and its 200-day moving average price is $97.29. Visa Inc. has a 52-week low of $75.17 and a 52-week high of $107.65.
Visa (NYSE:V) last posted its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. Visa had a net margin of 36.53% and a return on equity of 30.95%. The business’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.69 EPS. On average, analysts predict that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
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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