Janney Montgomery Scott LLC increased its holdings in shares of Visa Inc (NYSE:V) by 5.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 409,968 shares of the credit-card processor’s stock after purchasing an additional 22,975 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Visa were worth $61,532,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Parallel Advisors LLC grew its stake in shares of Visa by 8.6% in the second quarter. Parallel Advisors LLC now owns 50,638 shares of the credit-card processor’s stock valued at $6,707,000 after buying an additional 4,030 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Visa by 9.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 725,469 shares of the credit-card processor’s stock valued at $96,093,000 after buying an additional 63,291 shares in the last quarter. Providence First Trust Co grew its stake in shares of Visa by 2.3% in the second quarter. Providence First Trust Co now owns 16,864 shares of the credit-card processor’s stock valued at $2,234,000 after buying an additional 383 shares in the last quarter. Cascade Investment Advisors Inc. acquired a new stake in shares of Visa in the second quarter valued at $132,000. Finally, Weatherly Asset Management L. P. grew its stake in shares of Visa by 23.9% in the second quarter. Weatherly Asset Management L. P. now owns 18,294 shares of the credit-card processor’s stock valued at $2,423,000 after buying an additional 3,526 shares in the last quarter. Institutional investors and hedge funds own 80.10% of the company’s stock.
Shares of NYSE V opened at $138.06 on Friday. The stock has a market cap of $279.18 billion, a price-to-earnings ratio of 29.95, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.58. Visa Inc has a 1 year low of $111.02 and a 1 year high of $151.56.
In other news, EVP William M. Sheedy sold 13,864 shares of Visa stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $144.97, for a total transaction of $2,009,864.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP James H. Hoffmeister sold 2,252 shares of Visa stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $144.56, for a total value of $325,549.12. The disclosure for this sale can be found here. Insiders have sold a total of 119,395 shares of company stock valued at $16,697,489 over the last ninety days. 0.17% of the stock is owned by company insiders.
V has been the subject of a number of research reports. Wells Fargo & Co lifted their price objective on Visa from $161.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, October 1st. Zacks Investment Research raised Visa from a “hold” rating to a “buy” rating and set a $168.00 price objective for the company in a research note on Tuesday, September 25th. Credit Suisse Group lifted their price objective on Visa from $150.00 to $164.00 and gave the company an “outperform” rating in a research note on Monday, October 8th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $166.00 target price on shares of Visa in a report on Thursday, October 25th. Finally, Barclays started coverage on Visa in a report on Wednesday, November 14th. They issued an “overweight” rating and a $170.00 target price for the company. Two investment analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $158.10.
Visa Company Profile
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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