PFG Advisors boosted its holdings in Visa Inc (NYSE:V) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,870 shares of the credit-card processor’s stock after acquiring an additional 379 shares during the quarter. Visa accounts for 1.0% of PFG Advisors’ portfolio, making the stock its 19th largest position. PFG Advisors’ holdings in Visa were worth $3,650,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of V. Krane Funds Advisors LLC bought a new stake in shares of Visa during the second quarter worth about $26,000. Lowe Wealth Advisors LLC boosted its position in Visa by 114.7% during 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 during the period. Personal Wealth Partners purchased a new stake in Visa during the 2nd quarter valued at $30,000. Mcmillion Capital Management Inc. purchased a new stake in Visa during the 2nd quarter valued at $38,000. Finally, Hexavest Inc. purchased a new stake in shares of Visa in the 2nd quarter worth about $40,000. Institutional investors own 81.02% of the company’s stock.
Shares of V stock traded up $1.32 during trading hours on Tuesday, reaching $178.68. The company had a trading volume of 2,208,987 shares, compared to its average volume of 8,335,472. The business has a fifty day moving average price of $177.05 and a 200-day moving average price of $171.00. Visa Inc has a one year low of $121.60 and a one year high of $187.05. The firm has a market cap of $351.27 billion, a PE ratio of 38.76, a price-to-earnings-growth ratio of 1.82 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.
Several equities research analysts have recently commented on the stock. Robert W. Baird set a $196.00 target price on shares of Visa and gave the stock a “buy” rating in a research report on Friday, July 19th. Nomura raised their price objective on shares of Visa from $178.00 to $204.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Wells Fargo & Co raised their price objective on shares of Visa from $181.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. Wedbush set a $187.00 price objective on shares of Visa and gave the company a “buy” rating in a research note on Tuesday, September 24th. Finally, Deutsche Bank raised their price objective on shares of Visa from $177.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $196.57.
In related news, insider Vasant M. Prabhu sold 25,051 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.14, for a total value of $4,537,738.14. Following the transaction, the insider now owns 62,223 shares of the company’s stock, valued at $11,271,074.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lloyd Carney sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $182.73, for a total transaction of $639,555.00. Following the completion of the transaction, the director now directly owns 3,452 shares in the company, valued at approximately $630,783.96. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.
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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