Orrstown Financial Services Inc. Acquires 2,471 Shares of Visa Inc. (NYSE:V)

Orrstown Financial Services Inc. lifted its stake in Visa Inc. (NYSE:V) by 39.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,743 shares of the credit-card processor’s stock after purchasing an additional 2,471 shares during the period. Visa accounts for approximately 0.7% of Orrstown Financial Services Inc.’s holdings, making the stock its 22nd largest holding. Orrstown Financial Services Inc.’s holdings in Visa were worth $2,404,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in V. Westhampton Capital LLC boosted its position in shares of Visa by 3.0% during the first quarter. Westhampton Capital LLC now owns 2,065 shares of the credit-card processor’s stock worth $576,000 after purchasing an additional 60 shares in the last quarter. Synergy Asset Management LLC grew its stake in Visa by 62.4% in the first quarter. Synergy Asset Management LLC now owns 11,168 shares of the credit-card processor’s stock valued at $3,117,000 after acquiring an additional 4,290 shares during the period. Applied Capital LLC FL raised its position in shares of Visa by 0.8% during the first quarter. Applied Capital LLC FL now owns 9,442 shares of the credit-card processor’s stock worth $2,635,000 after purchasing an additional 78 shares during the period. Capital Advisors Ltd. LLC grew its position in shares of Visa by 1.7% in the 1st quarter. Capital Advisors Ltd. LLC now owns 3,648 shares of the credit-card processor’s stock valued at $1,018,000 after purchasing an additional 61 shares during the period. Finally, Dash Acquisitions Inc. increased its stake in Visa by 2.7% during the 1st quarter. Dash Acquisitions Inc. now owns 64,431 shares of the credit-card processor’s stock worth $17,570,000 after purchasing an additional 1,665 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of V stock opened at $281.96 on Wednesday. Visa Inc. has a 52 week low of $230.03 and a 52 week high of $293.07. The company has a market capitalization of $515.69 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 1.95 and a beta of 0.96. The company has a 50-day simple moving average of $279.65 and a 200 day simple moving average of $273.26. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Royal Bank of Canada reduced their target price on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. TD Cowen dropped their price target on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Jefferies Financial Group reduced their price objective on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $314.19.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

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.