Financial Advantage Inc. increased its stake in shares of Visa Inc (NYSE:V) by 92.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 770 shares of the credit-card processor’s stock after acquiring an additional 370 shares during the quarter. Financial Advantage Inc.’s holdings in Visa were worth $132,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in V. Bath Savings Trust Co lifted its position in shares of Visa by 14.5% in the second quarter. Bath Savings Trust Co now owns 10,224 shares of the credit-card processor’s stock valued at $1,774,000 after acquiring an additional 1,296 shares in the last quarter. Cox Capital Mgt LLC lifted its holdings in Visa by 2.0% in the 2nd quarter. Cox Capital Mgt LLC now owns 15,784 shares of the credit-card processor’s stock worth $2,739,000 after buying an additional 315 shares during the period. Thomasville National Bank lifted its holdings in Visa by 1.0% in the 2nd quarter. Thomasville National Bank now owns 98,183 shares of the credit-card processor’s stock worth $17,039,000 after buying an additional 932 shares during the period. Park National Corp OH lifted its holdings in Visa by 8.3% in the 2nd quarter. Park National Corp OH now owns 115,812 shares of the credit-card processor’s stock worth $20,099,000 after buying an additional 8,901 shares during the period. Finally, Winfield Associates Inc. lifted its holdings in Visa by 0.7% in the 2nd quarter. Winfield Associates Inc. now owns 32,439 shares of the credit-card processor’s stock worth $5,630,000 after buying an additional 230 shares during the period. 80.99% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on V. Robert W. Baird set a $196.00 price objective on Visa and gave the stock a “buy” rating in a report on Friday, July 19th. Raymond James boosted their price objective on Visa from $177.00 to $193.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Citigroup boosted their price objective on Visa from $185.00 to $206.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Goldman Sachs Group restated a “buy” rating and issued a $202.00 price objective on shares of Visa in a research report on Wednesday, July 24th. Finally, Wedbush set a $187.00 price objective on Visa and gave the company a “buy” rating in a research report on Tuesday, September 24th. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Visa currently has an average rating of “Buy” and a consensus price target of $196.57.
Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the prior year, the firm earned $1.20 earnings per share. Visa’s revenue 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.
In related news, Director Denise M. Morrison purchased 1,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $171.13 per share, with a total value of $171,130.00. Following the transaction, the director now owns 3,223 shares of the company’s stock, valued at $551,551.99. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lloyd Carney sold 3,500 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $182.73, for a total value of $639,555.00. Following the sale, the director now directly owns 3,452 shares in the company, valued at $630,783.96. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.
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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