TCP Asset Management LLC Buys New Stake in Visa Inc. (NYSE:V)

TCP Asset Management LLC bought a new position in shares of Visa Inc. (NYSE:V) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 936 shares of the credit-card processor’s stock, valued at approximately $257,000.

A number of other hedge funds also recently bought and sold shares of the company. POM Investment Strategies LLC increased its holdings in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. TruNorth Capital Management LLC raised its stake in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares in the last quarter. Bbjs Financial Advisors LLC bought a new position in shares of Visa during the 2nd quarter worth approximately $35,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Visa in the 2nd quarter valued at $35,000. Finally, Abich Financial Wealth Management LLC grew its stake 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 worth $37,000 after buying an additional 46 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents 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 currently owned by insiders.

Visa Trading Down 0.8 %

Visa stock opened at $281.96 on Wednesday. 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 firm has a 50-day moving average of $279.65 and a 200-day moving average of $273.26. The company has a market cap of $515.69 billion, a price-to-earnings ratio of 31.50, a P/E/G ratio of 1.95 and a beta of 0.96. Visa Inc. has a one year low of $230.03 and a one year high of $293.07.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on V. Robert W. Baird boosted their target price on Visa from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Bank of America increased their target price on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Compass Point started coverage on shares of Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target on the stock. TD Cowen lowered their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $314.19.

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.