Grimes & Company Inc. trimmed its holdings in Visa Inc. (NYSE:V – Free Report) 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.
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.
Get Our Latest Stock Analysis on V
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.
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