Redhawk Wealth Advisors Inc. raised its holdings in shares of Visa Inc (NYSE:V) by 11.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,041 shares of the credit-card processor’s stock after purchasing an additional 312 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Visa were worth $523,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in V. Krane Funds Advisors LLC bought a new stake in shares of Visa in the 2nd quarter valued at approximately $26,000. Lowe Wealth Advisors LLC grew its stake in shares of Visa by 114.7% in the 2nd quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 86 shares in the last quarter. Personal Wealth Partners bought a new stake in shares of Visa in the 2nd quarter valued at approximately $30,000. Mcmillion Capital Management Inc. bought a new stake in shares of Visa in the 2nd quarter valued at approximately $38,000. Finally, Hexavest Inc. bought a new stake in shares of Visa in the 2nd quarter valued at approximately $40,000. 80.99% of the stock is owned by institutional investors.
Several equities research analysts recently commented on the company. Citigroup boosted their price target on Visa from $185.00 to $206.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Morgan Stanley boosted their price target on Visa from $175.00 to $191.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating and set a $180.00 price target for the company. in a research note on Saturday, June 15th. Wedbush set a $187.00 price target on Visa and gave the company a “buy” rating in a research note on Tuesday, September 24th. Finally, KeyCorp boosted their price target on Visa from $190.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Visa has an average rating of “Buy” and an average target price of $196.57.
Visa stock traded up $3.12 during midday trading on Friday, reaching $175.99. The stock had a trading volume of 429,825 shares, compared to its average volume of 8,781,984. The firm’s fifty day simple moving average is $177.45 and its 200-day simple moving average is $169.81. Visa Inc has a 1-year low of $121.60 and a 1-year high of $187.05. The stock has a market capitalization of $345.78 billion, a P/E ratio of 38.17, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.69 and a current ratio of 1.69.
Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.04. Visa had a return on equity of 41.04% and a net margin of 53.43%. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter last year, the firm earned $1.20 EPS. Visa’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Visa Inc will post 5.4 earnings per share for the current fiscal year.
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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