Enterprise Bank & Trust Co Raises Position in Visa Inc (NYSE:V)

Enterprise Bank & Trust Co raised its holdings in shares of Visa Inc (NYSE:V) by 10.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,234 shares of the credit-card processor’s stock after acquiring an additional 1,142 shares during the quarter. Visa makes up 1.2% of Enterprise Bank & Trust Co’s portfolio, making the stock its 28th largest holding. Enterprise Bank & Trust Co’s holdings in Visa were worth $2,363,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Franklin Street Advisors Inc. NC increased its holdings in shares of Visa by 3.2% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 1,634 shares of the credit-card processor’s stock valued at $307,000 after purchasing an additional 51 shares in the last quarter. BEAM Asset Management LLC boosted its position in shares of Visa by 2.0% during the 2nd quarter. BEAM Asset Management LLC now owns 2,654 shares of the credit-card processor’s stock valued at $525,000 after acquiring an additional 52 shares during the last quarter. Ironwood Investment Counsel LLC raised its holdings in Visa by 1.0% in the 1st quarter. Ironwood Investment Counsel LLC now owns 5,509 shares of the credit-card processor’s stock valued at $887,000 after buying an additional 57 shares during the period. Laurel Wealth Advisors LLC raised its holdings in Visa by 3.7% in the 1st quarter. Laurel Wealth Advisors LLC now owns 1,588 shares of the credit-card processor’s stock valued at $256,000 after buying an additional 57 shares during the period. Finally, Greenwich Wealth Management LLC raised its holdings in Visa by 4.0% in the 1st quarter. Greenwich Wealth Management LLC now owns 1,628 shares of the credit-card processor’s stock valued at $262,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 81.59% of the company’s stock.

In related news, President Ryan Mcinerney sold 26,150 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $191.87, for a total value of $5,017,400.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $181.78, for a total transaction of $1,272,460.00. Following the completion of the sale, the chief executive officer now directly owns 139,090 shares of the company’s stock, valued at $25,283,780.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,429 shares of company stock valued at $9,654,214. 0.19% of the stock is owned by corporate insiders.

Several brokerages recently issued reports on V. Wedbush boosted their price objective on shares of Visa from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Raymond James boosted their price objective on shares of Visa from $188.00 to $204.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Wells Fargo & Co lowered their price objective on shares of Visa from $230.00 to $205.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Robert W. Baird lifted their price objective on shares of Visa from $166.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, March 31st. Finally, Barclays reduced their target price on shares of Visa from $230.00 to $209.00 and set an “overweight” rating on the stock in a report on Thursday, March 26th. Five investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Visa has an average rating of “Buy” and a consensus target price of $206.93.

Shares of Visa stock traded down $0.95 during trading on Friday, hitting $191.26. 4,390,739 shares of the stock were exchanged, compared to its average volume of 8,279,411. The stock has a market cap of $379.12 billion, a price-to-earnings ratio of 34.53, a price-to-earnings-growth ratio of 3.09 and a beta of 0.92. The firm’s 50-day moving average price is $194.03 and its 200 day moving average price is $186.49. Visa Inc has a 12-month low of $133.93 and a 12-month high of $214.17. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.25 and a quick ratio of 1.25.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, April 30th. The credit-card processor reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.04. The business had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.75 billion. Visa had a net margin of 52.26% and a return on equity of 43.45%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.31 EPS. As a group, research analysts forecast that Visa Inc will post 5 earnings per share for the current year.

About Visa

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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