Tredje AP fonden Boosts Stake in Visa Inc (V)

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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.

Visa (NYSE:V) last announced its quarterly earnings data on Wednesday, July 25th. The credit-card processor reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.11. The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Visa had a return on equity of 36.09% and a net margin of 47.91%. Visa’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the firm posted $0.86 EPS. As a group, equities analysts expect that Visa Inc will post 4.59 earnings per share for the current year.

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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Institutional Ownership by Quarter for Visa (NYSE:V)

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