Dumont & Blake Investment Advisors LLC Lowers Stock Holdings in Visa Inc. (NYSE:V)

Dumont & Blake Investment Advisors LLC lessened its stake in shares of Visa Inc. (NYSE:V) by 49.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,309 shares of the credit-card processor’s stock after selling 6,261 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Visa were worth $1,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Visa Stock Performance

NYSE:V opened at $281.73 on Friday. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07. The firm has a 50 day simple moving average of $279.02 and a 200-day simple moving average of $273.17. The firm has a market cap of $515.27 billion, a PE ratio of 31.48, a P/E/G ratio of 1.96 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Insider Buying and Selling 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 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 owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Citigroup reduced their price target on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. BMO Capital Markets raised their target price on Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Royal Bank of Canada lowered their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Bank of America raised their price objective on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Finally, Morgan Stanley restated an “overweight” rating and set a $322.00 target price on shares of Visa in a research report on Wednesday, September 25th. Four equities research 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, Visa currently has an average rating of “Moderate Buy” and a consensus target price 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.