Visa Inc. (NYSE:V) Position Cut by Kercheville Advisors LLC

Kercheville Advisors LLC trimmed its holdings in Visa Inc. (NYSE:V) by 6.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,370 shares of the credit-card processor’s stock after selling 100 shares during the quarter. Kercheville Advisors LLC’s holdings in Visa were worth $377,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Canoe Financial LP acquired a new stake in Visa in the third quarter worth approximately $131,930,000. Custom Index Systems LLC acquired a new stake in Visa in the third quarter worth approximately $731,000. Motiv8 Investments LLC lifted its position in Visa by 21.6% in the third quarter. Motiv8 Investments LLC now owns 2,969 shares of the credit-card processor’s stock worth $816,000 after purchasing an additional 528 shares during the period. OMNI 360 Wealth Inc. acquired a new stake in Visa in the third quarter worth approximately $261,000. Finally, Park Edge Advisors LLC lifted its position in Visa by 12.5% in the third quarter. Park Edge Advisors LLC now owns 3,411 shares of the credit-card processor’s stock worth $938,000 after purchasing an additional 379 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Trading Up 0.9 %

Visa stock opened at $284.19 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market capitalization of $519.77 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 1.95 and a beta of 0.96. Visa Inc. has a one year low of $230.03 and a one year high of $293.07. The company’s fifty day moving average price is $279.37 and its two-hundred day moving average price is $273.22.

Insider Buying and Selling at Visa

In other Visa 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 transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on V. Citigroup cut their price objective on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Morgan Stanley reiterated an “overweight” rating and set a $322.00 price objective on shares of Visa in a research report on Wednesday, September 25th. TD Cowen cut their price objective on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. BMO Capital Markets increased their price objective on Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. increased their price objective on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $314.19.

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.