Grimes & Company Inc. Trims Holdings in Visa Inc. (NYSE:V)

Grimes & Company Inc. trimmed its holdings in Visa Inc. (NYSE:V) by 16.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,011 shares of the credit-card processor’s stock after selling 10,759 shares during the quarter. Grimes & Company Inc.’s holdings in Visa were worth $15,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Boyd Watterson Asset Management LLC OH increased its position in Visa by 8.2% during the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 13,658 shares of the credit-card processor’s stock valued at $3,755,000 after buying an additional 1,035 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Visa in the third quarter worth $1,156,000. JCIC Asset Management Inc. increased its holdings in shares of Visa by 1.0% during the third quarter. JCIC Asset Management Inc. now owns 26,448 shares of the credit-card processor’s stock valued at $7,272,000 after acquiring an additional 250 shares in the last quarter. Romano Brothers AND Company raised its position in shares of Visa by 1.7% in the 3rd quarter. Romano Brothers AND Company now owns 8,490 shares of the credit-card processor’s stock worth $2,334,000 after purchasing an additional 145 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. boosted its stake in Visa by 1.6% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 7,015 shares of the credit-card processor’s stock worth $1,929,000 after purchasing an additional 113 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Down 0.2 %

Shares of NYSE:V opened at $283.22 on Friday. The stock has a 50 day moving average of $278.40 and a 200 day moving average of $273.10. The company has a market cap of $517.99 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. Visa Inc. has a 12-month low of $228.03 and a 12-month 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.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates 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 period in the prior year, the business posted $2.16 earnings per share. As a group, equities research analysts expect that Visa Inc. will post 9.92 EPS for the current year.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s 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 sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This trade 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 through the SEC website. 0.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on V. Compass Point assumed coverage on shares of Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective for the company. William Blair raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Robert W. Baird upped their price objective on Visa from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Jefferies Financial Group reduced their target price on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $322.00 price target on shares of Visa in a report on Wednesday, September 25th. Four 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.