Spirit of America Management Corp NY Increases Stock Holdings in Visa Inc. (NYSE:V)

Spirit of America Management Corp NY grew its holdings in shares of Visa Inc. (NYSE:V) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,550 shares of the credit-card processor’s stock after purchasing an additional 100 shares during the quarter. Spirit of America Management Corp NY’s holdings in Visa were worth $2,076,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Visa by 0.6% during the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after purchasing an additional 788,908 shares in the last quarter. Capital International Investors lifted its position in shares of Visa by 2.7% during the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after buying an additional 626,618 shares in the last quarter. Capital World Investors grew its stake in shares of Visa by 5.4% during the 1st 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. increased its holdings in Visa by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after acquiring an additional 345,829 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Visa by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock worth $3,783,857,000 after acquiring an additional 312,286 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa 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 directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. William Blair upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Macquarie reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Visa in a report on Friday, September 27th. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Royal Bank of Canada dropped their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Finally, BMO Capital Markets increased their target price on Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $314.19.

Visa Stock Down 0.5 %

Shares of NYSE V opened at $281.73 on Friday. Visa Inc. has a 1 year low of $228.03 and a 1 year high of $293.07. The firm has a 50-day simple moving average of $278.73 and a two-hundred day simple moving average of $273.17. The company has a market cap of $515.27 billion, a P/E ratio of 31.48, a PEG ratio of 1.96 and a beta of 0.96. 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 results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $2.16 EPS. Research analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Company 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.