SRN Advisors LLC Reduces Stock Holdings in Visa Inc. (NYSE:V)

SRN Advisors LLC reduced its stake in shares of Visa Inc. (NYSE:V) by 6.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,607 shares of the credit-card processor’s stock after selling 552 shares during the quarter. Visa makes up about 1.9% of SRN Advisors LLC’s holdings, making the stock its 11th biggest holding. SRN Advisors LLC’s holdings in Visa were worth $2,092,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in V. POM Investment Strategies LLC lifted its position in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the period. TruNorth Capital Management LLC grew its holdings in Visa by 211.9% in 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 during the period. Bbjs Financial Advisors LLC bought a new position in shares of Visa during the second quarter valued at approximately $35,000. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Visa during the second quarter valued at approximately $35,000. Finally, Abich Financial Wealth Management LLC boosted its position in shares of Visa by 52.9% in 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 in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The trade was 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 accessible through the SEC website. 0.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on V shares. TD Cowen reduced their price objective on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price target on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Citigroup cut their price objective 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. Royal Bank of Canada decreased their target price on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Finally, Piper Sandler cut their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Four equities research 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. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average price target of $314.19.

Visa Stock Up 0.9 %

Shares of V stock opened at $284.19 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 12 month low of $230.03 and a 12 month high of $293.07. The stock has a market cap of $519.77 billion, a P/E ratio of 31.75, a P/E/G ratio of 1.95 and a beta of 0.96. The company has a 50 day simple moving average of $279.37 and a two-hundred day simple moving average of $273.22.

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.