Visa Inc. (NYSE:V) Shares Sold by Capital Investment Counsel Inc

Capital Investment Counsel Inc reduced its stake in Visa Inc. (NYSE:V) by 1.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,466 shares of the credit-card processor’s stock after selling 200 shares during the period. Capital Investment Counsel Inc’s holdings in Visa were worth $3,428,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Hilltop National Bank acquired a new stake in shares of Visa in the first quarter valued at $1,212,000. Absolute Capital Management LLC purchased a new position in Visa during the 1st quarter valued at about $404,000. Davidson Capital Management Inc. increased its stake in Visa by 0.5% during the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after purchasing an additional 44 shares during the period. Empirical Finance LLC lifted its position in shares of Visa by 4.4% during the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after purchasing an additional 1,914 shares in the last quarter. Finally, Arjuna Capital boosted its stake in shares of Visa by 0.8% in the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on V. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Compass Point started coverage on Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price for the company. Bank of America increased their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research report on Tuesday, September 3rd. Finally, Piper Sandler reduced their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.19.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were 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 owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Visa Price Performance

Shares of V opened at $283.22 on Friday. The company has a market capitalization of $517.99 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. Visa Inc. has a fifty-two week low of $228.03 and a fifty-two week high of $293.07. 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 debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last posted its quarterly earnings data 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 company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the firm earned $2.16 EPS. On average, equities research analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

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.