Gemmer Asset Management LLC Has $1.11 Million Stake in Visa Inc. (NYSE:V)

Gemmer Asset Management LLC lowered its holdings in Visa Inc. (NYSE:V) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,049 shares of the credit-card processor’s stock after selling 105 shares during the quarter. Gemmer Asset Management LLC’s holdings in Visa were worth $1,113,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. POM Investment Strategies LLC boosted its position in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the last quarter. TruNorth Capital Management LLC boosted its holdings in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC acquired a new stake in Visa in the second quarter worth about $35,000. CarsonAllaria Wealth Management Ltd. bought a new stake in Visa during the 2nd quarter worth about $35,000. Finally, Abich Financial Wealth Management LLC lifted its position in Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after purchasing an additional 46 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Visa stock opened at $284.19 on Tuesday. The stock’s 50 day moving average is $279.37 and its 200 day moving average is $273.22. Visa Inc. has a one year low of $230.03 and a one year high of $293.07. The firm has a market cap of $519.77 billion, a P/E ratio of 31.75, a P/E/G ratio of 1.95 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Analyst Ratings Changes

Several brokerages have recently commented on V. Robert W. Baird lifted their price target on shares of Visa from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. TD Cowen lowered their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Jefferies Financial Group cut their price target on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $314.19.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by insiders.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.