Advisor Partners LLC grew its position in shares of Visa Inc (NYSE:V) by 6.0% during the 3rd quarter, Holdings Channel reports. The firm owned 33,704 shares of the credit-card processor’s stock after purchasing an additional 1,906 shares during the quarter. Visa accounts for 0.7% of Advisor Partners LLC’s holdings, making the stock its 27th largest holding. Advisor Partners LLC owned about 16.14% of Visa worth $3,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. iAB Financial Bank boosted its position in shares of Visa by 2.6% in the second quarter. iAB Financial Bank now owns 56,963 shares of the credit-card processor’s stock worth $5,342,000 after acquiring an additional 1,423 shares during the last quarter. Heritage Trust Co raised its holdings in Visa by 51.4% in the second quarter. Heritage Trust Co now owns 4,520 shares of the credit-card processor’s stock valued at $424,000 after buying an additional 1,535 shares during the period. Aviva PLC raised its holdings in Visa by 0.8% in the second quarter. Aviva PLC now owns 1,411,845 shares of the credit-card processor’s stock valued at $132,432,000 after buying an additional 11,662 shares during the period. Jacobi Capital Management LLC raised its holdings in Visa by 12.2% in the second quarter. Jacobi Capital Management LLC now owns 9,376 shares of the credit-card processor’s stock valued at $892,000 after buying an additional 1,016 shares during the period. Finally, Fundsmith LLP raised its holdings in Visa by 5.3% in the second quarter. Fundsmith LLP now owns 5,217,623 shares of the credit-card processor’s stock valued at $489,309,000 after buying an additional 262,930 shares during the period. 81.55% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently commented on V shares. Cantor Fitzgerald restated a “buy” rating and issued a $120.00 price target on shares of Visa in a report on Wednesday, October 25th. Susquehanna Bancshares raised their price target on shares of Visa from $126.00 to $148.00 in a report on Thursday, December 28th. Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Jefferies Group raised their price target on shares of Visa from $125.00 to $127.00 and gave the company a “buy” rating in a report on Monday, October 30th. Finally, Wells Fargo & Co upgraded shares of Visa from a “market perform” rating to an “outperform” rating and raised their price target for the company from $107.01 to $120.00 in a report on Tuesday, October 10th. Four investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $122.03.
Visa (NYSE:V) last issued its quarterly earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. The business had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.63 billion. Visa had a net margin of 44.08% and a return on equity of 30.89%. The business’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share. analysts expect that Visa Inc will post 4.08 EPS for the current year.
In other Visa news, EVP Tullier Kelly Mahon sold 49,702 shares of Visa stock in a transaction on Friday, December 15th. The shares were sold at an average price of $113.66, for a total value of $5,649,129.32. Following the completion of the transaction, the executive vice president now owns 76,202 shares of the company’s stock, valued at $8,661,119.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP James H. Hoffmeister sold 2,146 shares of Visa stock in a transaction on 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 transaction, the senior vice president now directly owns 687 shares of the company’s stock, valued at approximately $77,005.83. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,068 shares of company stock valued at $6,597,262. Insiders own 0.14% of the company’s stock.
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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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