Covenant Partners LLC Increases Position in Visa Inc. (NYSE:V)

Covenant Partners LLC increased its stake in Visa Inc. (NYSE:V) by 11.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,687 shares of the credit-card processor’s stock after purchasing an additional 565 shares during the quarter. Visa accounts for 0.5% of Covenant Partners LLC’s investment portfolio, making the stock its 28th largest position. Covenant Partners LLC’s holdings in Visa were worth $1,564,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in Visa by 45,189.4% during the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after acquiring an additional 9,736,958 shares in the last quarter. SG Americas Securities LLC increased its holdings in Visa by 4,412.3% during the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after acquiring an additional 4,166,905 shares in the last quarter. National Bank of Canada FI increased its holdings in Visa by 787.1% during the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after acquiring an additional 4,099,122 shares in the last quarter. Swedbank AB purchased a new position in Visa during the 1st quarter valued at about $511,321,000. Finally, GQG Partners LLC increased its holdings in Visa by 40.1% during the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after acquiring an additional 1,715,686 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.5 %

V opened at $281.73 on Monday. The firm has a market capitalization of $513.40 billion, a P/E ratio of 30.13, a P/E/G ratio of 1.95 and a beta of 0.96. The firm’s 50 day moving average is $279.02 and its 200-day moving average is $273.16. Visa Inc. has a 52-week low of $228.03 and a 52-week 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $322.00 price target on shares of Visa in a research note on Wednesday, September 25th. Citigroup decreased their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Oppenheimer assumed coverage on shares of Visa in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.19.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred 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 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 SEC, which is available at this hyperlink. Insiders own 0.19% of the company’s stock.

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.