Visa Inc. (NYSE:V) Stock Holdings Lowered by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC reduced its holdings in Visa Inc. (NYSE:V) by 10.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,131 shares of the credit-card processor’s stock after selling 1,874 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Visa were worth $4,435,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Altus Wealth Group LLC increased its position in shares of Visa by 3.2% in the third quarter. Altus Wealth Group LLC now owns 7,035 shares of the credit-card processor’s stock worth $1,934,000 after acquiring an additional 218 shares in the last quarter. Syntegra Private Wealth Group LLC increased its position in shares of Visa by 2.0% in the third quarter. Syntegra Private Wealth Group LLC now owns 10,514 shares of the credit-card processor’s stock worth $2,891,000 after acquiring an additional 208 shares in the last quarter. Hartford Investment Management Co. increased its position in shares of Visa by 4.2% in the third quarter. Hartford Investment Management Co. now owns 105,062 shares of the credit-card processor’s stock worth $28,887,000 after acquiring an additional 4,250 shares in the last quarter. Greenleaf Trust increased its position in shares of Visa by 8.5% in the third quarter. Greenleaf Trust now owns 235,657 shares of the credit-card processor’s stock worth $64,794,000 after acquiring an additional 18,473 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its position in shares of Visa by 6.0% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 371,082 shares of the credit-card processor’s stock worth $102,029,000 after acquiring an additional 21,164 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Down 0.4 %

Shares of Visa stock opened at $283.76 on Thursday. Visa Inc. has a 52-week low of $228.03 and a 52-week high of $293.07. The firm has a market capitalization of $517.10 billion, a PE ratio of 30.35, a price-to-earnings-growth 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. The company’s fifty day moving average price is $278.40 and its two-hundred day moving average price is $273.10.

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

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. TD Cowen decreased their price target on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a report on Tuesday, September 3rd. Finally, Citigroup reduced their target price on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Four 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 data from MarketBeat.com, the company presently 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.