Tredje AP fonden lifted its position in shares of Visa Inc (NYSE:V) by 14.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 237,154 shares of the credit-card processor’s stock after buying an additional 29,923 shares during the quarter. Visa accounts for approximately 1.1% of Tredje AP fonden’s holdings, making the stock its 9th largest position. Tredje AP fonden’s holdings in Visa were worth $31,411,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Cascade Investment Advisors Inc. bought a new position in Visa in the 2nd quarter worth about $132,000. Bedel Financial Consulting Inc. bought a new position in Visa in the 1st quarter worth about $176,000. Signature Estate & Investment Advisors LLC boosted its stake in Visa by 36.8% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 1,357 shares of the credit-card processor’s stock worth $180,000 after purchasing an additional 365 shares during the period. Quad Cities Investment Group LLC bought a new position in Visa in the 2nd quarter worth about $186,000. Finally, Landaas & Co. WI ADV bought a new position in Visa in the 2nd quarter worth about $189,000. Institutional investors own 80.18% of the company’s stock.
Shares of NYSE V opened at $140.06 on Friday. The stock has a market cap of $305.32 billion, a P/E ratio of 40.25, a PEG ratio of 1.86 and a beta of 1.06. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.69 and a current ratio of 1.69. Visa Inc has a 1-year low of $106.60 and a 1-year high of $151.56.
Several research firms have weighed in on V. Morgan Stanley raised their price target on Visa from $142.00 to $165.00 and gave the company a “$140.13” rating in a report on Thursday, July 19th. Buckingham Research raised their price target on Visa from $152.00 to $169.00 and gave the company a “buy” rating in a report on Tuesday, June 26th. SunTrust Banks raised their price target on Visa to $170.00 and gave the company a “buy” rating in a report on Thursday, July 26th. They noted that the move was a valuation call. Loop Capital raised their price target on Visa to $157.00 and gave the company a “buy” rating in a report on Thursday, July 26th. They noted that the move was a valuation call. Finally, Bank of America raised their price target on Visa from $146.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, July 17th. Two equities research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $153.97.
In other Visa news, SVP James H. Hoffmeister sold 6,912 shares of Visa stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $140.01, for a total value of $967,749.12. Following the transaction, the senior vice president now directly owns 6,912 shares of the company’s stock, valued at approximately $967,749.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vasant M. Prabhu sold 25,064 shares of Visa stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $140.56, for a total value of $3,522,995.84. Following the completion of the transaction, the chief financial officer now directly owns 58,232 shares in the company, valued at $8,185,089.92. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
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.
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