Custom Index Systems LLC acquired a new stake in Visa Inc. (NYSE:V – Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,659 shares of the credit-card processor’s stock, valued at approximately $731,000.
Several other hedge funds have also recently added to or reduced their stakes in V. Vanguard Group Inc. grew its holdings in shares of Visa by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after buying an additional 788,908 shares during the period. Capital International Investors grew its stake in Visa by 2.7% in the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after acquiring an additional 626,618 shares during the period. Capital World Investors grew its stake in Visa by 5.4% in the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after acquiring an additional 968,008 shares during the period. Ameriprise Financial Inc. raised its position in shares of Visa by 2.4% during the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after purchasing an additional 345,829 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Visa by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after purchasing an additional 312,286 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.
Visa Trading Up 0.9 %
Shares of V stock opened at $284.19 on Tuesday. Visa Inc. has a 12-month low of $230.03 and a 12-month high of $293.07. The company has a market capitalization of $519.77 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 1.95 and a beta of 0.96. The firm has a 50 day moving average price of $279.37 and a two-hundred day moving average price of $273.22. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.
Analyst Ratings Changes
Several analysts have commented on V shares. William Blair upgraded shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Citigroup cut their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Royal Bank of Canada decreased their target price on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Finally, BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research note on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $314.19.
View Our Latest Stock Analysis on Visa
Insider Transactions at Visa
In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by corporate insiders.
Visa 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.
See Also
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