1858 Wealth Management LLC Sells 2,360 Shares of Visa Inc. (NYSE:V)

1858 Wealth Management LLC decreased its position in shares of Visa Inc. (NYSE:V) by 40.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,445 shares of the credit-card processor’s stock after selling 2,360 shares during the quarter. 1858 Wealth Management LLC’s holdings in Visa were worth $947,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Prentiss Smith & Co. Inc. grew its holdings in Visa by 1.0% during the third quarter. Prentiss Smith & Co. Inc. now owns 4,225 shares of the credit-card processor’s stock worth $1,162,000 after buying an additional 42 shares in the last quarter. James Hambro & Partners LLP grew its holdings in Visa by 7.0% during the third quarter. James Hambro & Partners LLP now owns 480,453 shares of the credit-card processor’s stock worth $132,043,000 after buying an additional 31,589 shares in the last quarter. Marino Stram & Associates LLC grew its holdings in Visa by 3.8% during the third quarter. Marino Stram & Associates LLC now owns 3,547 shares of the credit-card processor’s stock worth $975,000 after buying an additional 131 shares in the last quarter. Castleview Partners LLC grew its holdings in Visa by 4.0% during the third quarter. Castleview Partners LLC now owns 6,442 shares of the credit-card processor’s stock worth $1,771,000 after buying an additional 246 shares in the last quarter. Finally, Arlington Partners LLC grew its holdings in Visa by 26.2% during the third quarter. Arlington Partners LLC now owns 14,421 shares of the credit-card processor’s stock worth $3,965,000 after buying an additional 2,991 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 price target on shares of Visa in a report on Thursday, September 12th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. TD Cowen cut their price objective on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Evercore ISI cut their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Finally, Citigroup cut their price objective on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus target price of $314.19.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

Visa Price Performance

Shares of Visa stock opened at $286.85 on Tuesday. 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 firm has a market capitalization of $524.63 billion, a PE ratio of 32.05, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The business’s 50-day moving average price is $277.45 and its 200-day moving average price is $272.97. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The firm had revenue of $8.90 billion for 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%. The company’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.16 EPS. Sell-side analysts forecast that Visa Inc. will post 9.92 EPS for the current fiscal year.

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.