Commonwealth Financial Services LLC Has $655,000 Stock Position in Visa Inc. (NYSE:V)

Commonwealth Financial Services LLC lifted its stake in Visa Inc. (NYSE:V) by 5.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,359 shares of the credit-card processor’s stock after buying an additional 113 shares during the period. Commonwealth Financial Services LLC’s holdings in Visa were worth $655,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of V. International Assets Investment Management LLC grew its stake in shares of Visa by 45,189.4% in the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after acquiring an additional 9,736,958 shares during the last quarter. SG Americas Securities LLC boosted its stake in Visa by 4,412.3% during the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after buying an additional 4,166,905 shares in the last quarter. National Bank of Canada FI boosted its stake in Visa by 787.1% during the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after buying an additional 4,099,122 shares in the last quarter. Swedbank AB acquired a new stake in Visa during the first quarter worth $511,321,000. Finally, GQG Partners LLC boosted its stake in Visa by 40.1% during the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after buying an additional 1,715,686 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Shares of NYSE:V opened at $283.22 on Friday. The stock has a market capitalization of $517.99 billion, a P/E ratio of 31.64, a P/E/G ratio of 1.96 and a beta of 0.96. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average price of $278.40 and a two-hundred day moving average price of $273.10.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on V shares. BMO Capital Markets lifted their price target on shares of Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Macquarie reiterated an “outperform” rating and set a $300.00 price target on shares of Visa in a research note on Friday, September 27th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, 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 target price on the stock. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.19.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.19% of the company’s stock.

About Visa

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.