Visa Inc. (NYSE:V) Stock Position Raised by Great Lakes Retirement Inc.

Great Lakes Retirement Inc. raised its stake in Visa Inc. (NYSE:V) by 7.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,635 shares of the credit-card processor’s stock after acquiring an additional 3,075 shares during the period. Visa accounts for about 1.6% of Great Lakes Retirement Inc.’s investment portfolio, making the stock its 14th biggest holding. Great Lakes Retirement Inc.’s holdings in Visa were worth $12,822,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Hilltop National Bank bought a new position in Visa in the 1st quarter worth about $1,212,000. Absolute Capital Management LLC acquired a new stake in Visa in the 1st quarter valued at approximately $404,000. Davidson Capital Management Inc. increased its position in Visa by 0.5% in the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after acquiring an additional 44 shares during the period. Empirical Finance LLC boosted its position in Visa by 4.4% during the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after acquiring an additional 1,914 shares during the period. Finally, Arjuna Capital grew its stake in shares of Visa by 0.8% in the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after purchasing an additional 96 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on V shares. BMO Capital Markets upped their price objective on shares of Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Morgan Stanley reiterated an “overweight” rating and set a $322.00 price objective on shares of Visa in a research note on Wednesday, September 25th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Oppenheimer initiated coverage on Visa in a research note on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price target for the company. Finally, Keefe, Bruyette & Woods raised 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 issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $314.19.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by insiders.

Visa Stock Performance

Shares of V stock opened at $283.22 on Friday. The company has a market capitalization of $517.99 billion, a price-to-earnings 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 stock’s fifty day simple moving average is $278.40 and its 200-day simple moving average is $273.10.

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, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion for 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 business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.16 EPS. On average, sell-side analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal 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.