Montecito Bank & Trust Has $2.36 Million Position in Visa Inc (NYSE:V)

Montecito Bank & Trust increased its position in Visa Inc (NYSE:V) by 0.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 13,686 shares of the credit-card processor’s stock after acquiring an additional 75 shares during the period. Montecito Bank & Trust’s holdings in Visa were worth $2,355,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Visa by 1.1% during the second quarter. Vanguard Group Inc. now owns 146,976,797 shares of the credit-card processor’s stock worth $25,507,824,000 after purchasing an additional 1,615,505 shares during the period. BlackRock Inc. boosted its position in shares of Visa by 2.3% in the second quarter. BlackRock Inc. now owns 123,791,138 shares of the credit-card processor’s stock valued at $21,483,952,000 after acquiring an additional 2,773,330 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Visa by 0.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 78,658,915 shares of the credit-card processor’s stock valued at $13,651,254,000 after acquiring an additional 379,577 shares during the period. Northern Trust Corp boosted its position in shares of Visa by 6.5% in the second quarter. Northern Trust Corp now owns 20,991,024 shares of the credit-card processor’s stock valued at $3,642,991,000 after acquiring an additional 1,276,243 shares during the period. Finally, Fisher Asset Management LLC boosted its position in shares of Visa by 3.2% in the second quarter. Fisher Asset Management LLC now owns 19,780,743 shares of the credit-card processor’s stock valued at $3,432,948,000 after acquiring an additional 622,075 shares during the period. Hedge funds and other institutional investors own 81.02% of the company’s stock.

Shares of V stock opened at $175.71 on Friday. The stock has a market cap of $353.02 billion, a P/E ratio of 38.11, a price-to-earnings-growth ratio of 1.83 and a beta of 0.96. Visa Inc has a one year low of $121.60 and a one year high of $187.05. The stock has a fifty day moving average price of $177.09 and a 200 day moving average price of $171.45. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.69.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 EPS for the quarter, topping the consensus estimate of $1.33 by $0.04. The firm had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Visa had a return on equity of 41.04% and a net margin of 53.43%. Visa’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business earned $1.20 earnings per share. Equities research analysts anticipate that Visa Inc will post 5.4 EPS for the current year.

In other Visa news, insider Vasant M. Prabhu sold 25,051 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.14, for a total transaction of $4,537,738.14. Following the completion of the transaction, the insider now directly owns 62,223 shares in the company, valued at $11,271,074.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Denise M. Morrison acquired 1,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of $171.13 per share, with a total value of $171,130.00. Following the completion of the purchase, the director now directly owns 3,223 shares of the company’s stock, valued at $551,551.99. The disclosure for this purchase can be found here. 0.17% of the stock is owned by company insiders.

Several equities research analysts have recently weighed in on V shares. Piper Jaffray Companies set a $207.00 price objective on Visa and gave the company a “buy” rating in a research report on Wednesday, July 24th. Guggenheim increased their price objective on Visa from $178.00 to $190.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. Jefferies Financial Group increased their price objective on Visa from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Nomura increased their price objective on Visa from $178.00 to $204.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, ValuEngine cut Visa from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Three equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $196.57.

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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