Groesbeck Investment Management Corp NJ Has $1.01 Million Stake in Visa Inc. (NYSE:V)

Groesbeck Investment Management Corp NJ trimmed its holdings in shares of Visa Inc. (NYSE:V) by 5.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,659 shares of the credit-card processor’s stock after selling 230 shares during the period. Visa accounts for about 1.4% of Groesbeck Investment Management Corp NJ’s investment portfolio, making the stock its 23rd biggest holding. Groesbeck Investment Management Corp NJ’s holdings in Visa were worth $1,006,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several brokerages have commented on V. William Blair raised shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research note on Tuesday, September 3rd. Oppenheimer assumed coverage on shares of Visa in a research report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price objective for the company. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Finally, 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. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $314.19.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Visa Stock Down 0.5 %

Shares of V stock opened at $281.73 on Monday. The firm’s 50-day moving average is $279.02 and its 200-day moving average is $273.16. The stock has a market cap of $515.27 billion, a price-to-earnings ratio of 31.48, a PEG ratio of 1.96 and a beta of 0.96. 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 Inc. has a 52-week low of $228.03 and a 52-week high of $293.07.

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.