Visa Inc. (NYSE:V) Shares Acquired by Narwhal Capital Management

Narwhal Capital Management grew its stake in shares of Visa Inc. (NYSE:V) by 31.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,223 shares of the credit-card processor’s stock after acquiring an additional 11,039 shares during the quarter. Visa comprises approximately 1.1% of Narwhal Capital Management’s investment portfolio, making the stock its 23rd largest holding. Narwhal Capital Management’s holdings in Visa were worth $12,709,000 as of its most recent SEC filing.

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

Visa Price Performance

Shares of NYSE V opened at $283.76 on Thursday. The firm has a 50-day simple moving average of $278.40 and a 200-day simple moving average of $273.10. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $518.98 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.16 EPS. On average, equities analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on V shares. Macquarie reissued an “outperform” rating and set a $300.00 target price on shares of Visa in a report on Friday, September 27th. William Blair raised Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada dropped their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $314.19.

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.