Dock Street Asset Management Inc. Raises Stock Position in Visa Inc. (NYSE:V)

Dock Street Asset Management Inc. increased its position in shares of Visa Inc. (NYSE:V) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 143,658 shares of the credit-card processor’s stock after acquiring an additional 4,373 shares during the quarter. Visa comprises approximately 5.3% of Dock Street Asset Management Inc.’s investment portfolio, making the stock its 5th biggest holding. Dock Street Asset Management Inc.’s holdings in Visa were worth $39,499,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of V. SG Americas Securities LLC boosted its stake in Visa by 4,412.3% during the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after acquiring an additional 4,166,905 shares during the last quarter. National Bank of Canada FI lifted its stake in Visa by 787.1% in the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after buying an additional 4,099,122 shares in the last quarter. Swedbank AB bought a new position in Visa in the first quarter valued at approximately $511,321,000. GQG Partners LLC lifted its stake in Visa by 40.1% in the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after buying an additional 1,715,686 shares in the last quarter. Finally, Wulff Hansen & CO. lifted its stake in Visa by 26,951.9% in the second quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock valued at $416,788,000 after buying an additional 1,582,074 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of V opened at $284.88 on Wednesday. The firm has a market capitalization of $521.03 billion, a PE ratio of 31.83, a PEG ratio of 2.00 and a beta of 0.96. The company’s 50-day moving average is $277.95 and its 200-day moving average is $273.02. Visa Inc. has a fifty-two week low of $228.03 and a fifty-two week high of $293.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.16 earnings per share. Equities analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’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 transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on V shares. TD Cowen cut their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Royal Bank of Canada cut their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Citigroup cut their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Compass Point began coverage on shares of Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target on the stock. Finally, StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.19.

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.