Cetera Trust Company N.A Sells 377 Shares of Visa Inc. (NYSE:V)

Cetera Trust Company N.A lessened its stake in shares of Visa Inc. (NYSE:V) by 3.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,271 shares of the credit-card processor’s stock after selling 377 shares during the quarter. Visa comprises 1.7% of Cetera Trust Company N.A’s portfolio, making the stock its 13th largest holding. Cetera Trust Company N.A’s holdings in Visa were worth $2,824,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of V. POM Investment Strategies LLC increased 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 acquiring an additional 97 shares during the last quarter. TruNorth Capital Management LLC grew its holdings in shares of 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 bought a new position in shares of Visa in the second quarter worth approximately $35,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in Visa in the second quarter valued at approximately $35,000. Finally, Abich Financial Wealth Management LLC lifted its position in Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after purchasing an additional 46 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Price Performance

Shares of V opened at $284.88 on Wednesday. The company has a market capitalization of $521.03 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The firm has a 50 day moving average of $277.95 and a 200 day moving average of $273.02. Visa Inc. has a twelve month low of $228.03 and a twelve month high of $293.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on V shares. Citigroup decreased their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. TD Cowen reduced their target price 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 cut their price objective on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Oppenheimer initiated coverage on Visa in a report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price objective on the stock. Finally, Royal Bank of Canada cut their target price on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Four 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 presently has a consensus rating of “Moderate Buy” and an average price target of $314.19.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction 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 owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is owned by company insiders.

Visa 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.