Golden State Wealth Management LLC Has $1.42 Million Holdings in Visa Inc (NYSE:V)

Golden State Wealth Management LLC increased its stake in Visa Inc (NYSE:V) by 2.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,248 shares of the credit-card processor’s stock after purchasing an additional 189 shares during the quarter. Golden State Wealth Management LLC’s holdings in Visa were worth $1,419,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC bought a new position in shares of Visa in the second quarter worth $26,000. Lowe Wealth Advisors LLC increased its position in shares of Visa by 114.7% in the second quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 86 shares during the period. Personal Wealth Partners bought a new position in shares of Visa in the second quarter worth $30,000. Mcmillion Capital Management Inc. bought a new position in shares of Visa in the second quarter worth $38,000. Finally, Hexavest Inc. bought a new position in shares of Visa in the second quarter worth $40,000. 80.99% of the stock is owned by institutional investors.

In other news, Director Denise M. Morrison purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average cost of $171.13 per share, with a total value of $171,130.00. Following the completion of the purchase, the director now owns 3,223 shares of the company’s stock, valued at approximately $551,551.99. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Vasant M. Prabhu sold 25,051 shares of Visa stock in a transaction dated 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 sale, the insider now directly owns 62,223 shares in the company, valued at $11,271,074.22. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

V has been the topic of a number of recent analyst reports. Piper Jaffray Companies set a $207.00 price target on Visa and gave the stock a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price target on Visa from $166.00 to $182.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Wells Fargo & Co raised their price target on Visa from $181.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. Guggenheim raised their price target on Visa from $178.00 to $190.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Finally, Raymond James raised their price target on Visa from $177.00 to $193.00 and gave the stock an “outperform” rating in a research report 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 stock. The stock presently has a consensus rating of “Buy” and an average target price of $196.57.

Shares of V stock traded up $3.27 during mid-day trading on Thursday, reaching $174.59. 1,488,593 shares of the stock traded hands, compared to its average volume of 7,604,559. The stock’s fifty day simple moving average is $176.43 and its two-hundred day simple moving average is $171.87. Visa Inc has a 1-year low of $121.60 and a 1-year high of $187.05. The company has a market cap of $338.97 billion, a price-to-earnings ratio of 37.87, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.57.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 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 firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the firm posted $1.20 earnings per share. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities research analysts anticipate that Visa Inc will post 5.4 EPS for the current fiscal year.

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.

Featured Article: What is the yield curve?

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc (NYSE:V).

Institutional Ownership by Quarter for Visa (NYSE:V)

Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.