Pictet Asset Management Ltd. lowered its stake in shares of Visa Inc. (NYSE:V) by 0.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,651,020 shares of the credit-card processor’s stock after selling 6,223 shares during the period. Pictet Asset Management Ltd. owned approximately 0.07% of Visa worth $157,227,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Mercer Capital Advisers Inc. boosted its holdings in Visa by 2.2% during the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after buying an additional 25 shares during the last quarter. Mascoma Wealth Management LLC bought a new position in Visa during the second quarter worth about $122,000. SpiderRock Advisors LLC boosted its holdings in Visa by 107.1% during the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock worth $124,000 after buying an additional 19,709 shares during the last quarter. Advantage Investment Management LLC boosted its holdings in Visa by 27.4% during the first quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock worth $130,000 after buying an additional 314 shares during the last quarter. Finally, Delta Asset Management LLC TN boosted its holdings in Visa by 11.7% during the second quarter. Delta Asset Management LLC TN now owns 1,721 shares of the credit-card processor’s stock worth $161,000 after buying an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 81.65% of the company’s stock.
Visa Inc. (V) opened at 108.30 on Tuesday. The firm has a market capitalization of $247.62 billion, a price-to-earnings ratio of 40.28 and a beta of 0.94. Visa Inc. has a 12-month low of $75.17 and a 12-month high of $109.26. The company’s 50 day moving average price is $105.24 and its 200-day moving average price is $97.71.
Visa (NYSE:V) last issued its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, topping the Zacks’ 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 return on equity of 30.95% and a net margin of 36.53%. Visa’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period last year, the company posted $0.69 earnings per share. On average, equities analysts anticipate that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
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A number of equities analysts have issued reports on the company. Cowen and Company restated a “buy” rating and set a $107.00 target price on shares of Visa in a report on Thursday, October 12th. BidaskClub upgraded Visa from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 10th. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $108.51 target price on the stock in a report on Tuesday, September 26th. Sanford C. Bernstein restated an “outperform” rating and set a $110.00 target price on shares of Visa in a report on Thursday, July 13th. Finally, Sandler O’Neill reiterated a “hold” rating on shares of Visa in a report on Wednesday, June 21st. Two analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $110.24.
In related news, Director Mary B. Cranston sold 10,400 shares of Visa 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total value of $3,004,292.52. Following the sale, the executive vice president now owns 17,360 shares in the company, valued at $1,751,797.60. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
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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