Visa Inc. (NYSE:V) Holdings Decreased by Spring Capital Management LLC

Spring Capital Management LLC cut its holdings in Visa Inc. (NYSE:V) by 4.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,944 shares of the credit-card processor’s stock after selling 1,024 shares during the quarter. Visa makes up about 4.3% of Spring Capital Management LLC’s holdings, making the stock its 10th biggest holding. Spring Capital Management LLC’s holdings in Visa were worth $5,759,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. POM Investment Strategies LLC boosted its stake in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. TruNorth Capital Management LLC boosted its stake in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares in the last quarter. Bbjs Financial Advisors LLC bought a new position in Visa in the 2nd quarter worth about $35,000. CarsonAllaria Wealth Management Ltd. bought a new position in Visa in the 2nd quarter worth about $35,000. Finally, Abich Financial Wealth Management LLC boosted its stake in Visa by 52.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after purchasing an additional 46 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Down 0.4 %

Visa stock opened at $283.76 on Thursday. The firm has a 50 day moving average of $278.40 and a 200 day moving average of $273.10. The firm has a market capitalization of $517.10 billion, a price-to-earnings ratio of 30.35, a P/E/G 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 released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. The company 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 firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.16 EPS. As a group, research analysts predict that Visa Inc. will post 9.92 earnings per share for the current year.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

V has been the topic of a number of analyst reports. BMO Capital Markets upped their price target on shares of Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. William Blair upgraded shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Citigroup lowered their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Oppenheimer assumed coverage on shares of Visa in a research note on Tuesday, October 1st. They set an “outperform” rating and a $318.00 target price on the stock. 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $314.19.

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.