CLARET ASSET MANAGEMENT Corp reduced its holdings in Visa Inc (NYSE:V) by 8.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,223 shares of the credit-card processor’s stock after selling 202 shares during the period. CLARET ASSET MANAGEMENT Corp’s holdings in Visa were worth $382,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Krane Funds Advisors LLC purchased a new stake in shares of Visa during the 2nd quarter worth about $26,000. Lowe Wealth Advisors LLC raised its stake in shares of Visa by 114.7% during the 2nd 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 in the last quarter. Personal Wealth Partners purchased a new stake in shares of Visa during the 2nd quarter worth about $30,000. Mcmillion Capital Management Inc. purchased a new stake in shares of Visa during the 2nd quarter worth about $38,000. Finally, Hexavest Inc. purchased a new stake in shares of Visa during the 2nd quarter worth about $40,000. 80.99% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the company. 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 note on Wednesday, July 24th. Deutsche Bank raised their price target on Visa from $177.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Wedbush set a $187.00 price target on Visa and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Jefferies Financial Group raised their price target on Visa from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Citigroup increased their price objective on Visa from $185.00 to $206.00 and gave the company a “buy” rating in a report on Monday, September 9th. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $196.57.
Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.04. The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.70 billion. Visa had a return on equity of 41.04% and a net margin of 53.43%. The company’s revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 EPS. As a group, equities research analysts forecast that Visa Inc will post 5.41 earnings per share for the current year.
In other Visa news, insider Vasant M. Prabhu sold 25,051 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.14, for a total value of $4,537,738.14. Following the sale, the insider now owns 62,223 shares of the company’s stock, valued at approximately $11,271,074.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Denise M. Morrison bought 1,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was acquired at an average cost of $171.13 per share, for a total transaction of $171,130.00. Following the acquisition, the director now directly owns 3,223 shares in the company, valued at $551,551.99. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.
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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