Visa Inc. (NYSE:V) Shares Purchased by Lafayette Investments Inc.

Lafayette Investments Inc. increased its position in shares of Visa Inc. (NYSE:V) by 8.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,807 shares of the credit-card processor’s stock after purchasing an additional 607 shares during the period. Lafayette Investments Inc.’s holdings in Visa were worth $2,147,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Towerpoint Wealth LLC lifted its position in Visa by 36.6% in the first quarter. Towerpoint Wealth LLC now owns 1,135 shares of the credit-card processor’s stock valued at $317,000 after acquiring an additional 304 shares during the last quarter. Investment Partners LTD. raised its holdings in Visa by 1.1% during the first quarter. Investment Partners LTD. now owns 5,377 shares of the credit-card processor’s stock worth $1,501,000 after purchasing an additional 60 shares in the last quarter. Sunburst Financial Group LLC raised its holdings in Visa by 1.9% during the first quarter. Sunburst Financial Group LLC now owns 2,241 shares of the credit-card processor’s stock worth $624,000 after purchasing an additional 41 shares in the last quarter. Stokes Capital Advisors LLC raised its holdings in Visa by 0.4% during the first quarter. Stokes Capital Advisors LLC now owns 32,491 shares of the credit-card processor’s stock worth $9,068,000 after purchasing an additional 130 shares in the last quarter. Finally, 180 Wealth Advisors LLC grew its position in Visa by 4.0% during the first quarter. 180 Wealth Advisors LLC now owns 10,908 shares of the credit-card processor’s stock worth $3,044,000 after buying an additional 423 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

V opened at $283.22 on Friday. The company has a 50-day moving average of $278.40 and a 200-day moving average of $273.10. The company has a market capitalization of $517.99 billion, a P/E ratio of 31.64, a PEG 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 debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last released its earnings results 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 company had revenue of $8.90 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $2.16 EPS. Equities analysts expect that Visa Inc. will post 9.92 EPS for the current fiscal year.

Insider Transactions at Visa

In related 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 transaction 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 $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of several recent analyst reports. Oppenheimer initiated coverage on shares of Visa in a research report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Royal Bank of Canada lowered their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Jefferies Financial Group lowered their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.