TCI Wealth Advisors Inc. increased its holdings in shares of Visa (NYSE:V) by 14.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,390 shares of the credit-card processor’s stock after purchasing an additional 423 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Visa were worth $387,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of V. Krilogy Financial LLC grew its position in Visa by 0.3% in the 2nd quarter. Krilogy Financial LLC now owns 2,572 shares of the credit-card processor’s stock valued at $241,000 after acquiring an additional 7 shares in the last quarter. Raab & Moskowitz Asset Management LLC grew its position in Visa by 0.5% in the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 7,428 shares of the credit-card processor’s stock valued at $739,000 after acquiring an additional 38 shares in the last quarter. Westside Investment Management Inc. grew its position in Visa by 2.4% in the 2nd quarter. Westside Investment Management Inc. now owns 1,680 shares of the credit-card processor’s stock valued at $160,000 after acquiring an additional 40 shares in the last quarter. Arete Wealth Advisors LLC grew its position in Visa by 1.3% in the 2nd quarter. Arete Wealth Advisors LLC now owns 4,252 shares of the credit-card processor’s stock valued at $399,000 after acquiring an additional 56 shares in the last quarter. Finally, Comerica Securities Inc. grew its position in Visa by 0.4% in the 2nd quarter. Comerica Securities Inc. now owns 18,509 shares of the credit-card processor’s stock valued at $1,736,000 after acquiring an additional 72 shares in the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.
In other Visa news, EVP Lynne Biggar sold 1,712 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total value of $205,440.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by insiders.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.10. Visa had a return on equity of 32.97% and a net margin of 38.12%. The company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. sell-side analysts anticipate that Visa will post 4.38 earnings per share for the current fiscal year.
Visa announced that its board has approved a stock buyback program on Thursday, February 1st that authorizes the company to buyback $7.50 billion in shares. This buyback authorization authorizes the credit-card processor to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of equities analysts have recently commented on V shares. Citigroup reissued a “buy” rating and set a $136.00 price objective (up from $124.00) on shares of Visa in a research report on Friday, January 12th. Vetr raised Visa from a “hold” rating to a “buy” rating and set a $126.37 price objective for the company in a research report on Monday, February 5th. Zacks Investment Research raised Visa from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Thursday, January 25th. Cantor Fitzgerald reissued a “buy” rating and set a $123.00 price objective on shares of Visa in a research report on Monday, January 29th. Finally, Barclays boosted their price objective on Visa from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Visa presently has an average rating of “Buy” and a consensus target price of $134.97.
TRADEMARK VIOLATION NOTICE: This article was originally published by Ticker Report and is owned by of Ticker Report. If you are viewing this article on another domain, it was copied illegally and republished in violation of international trademark & copyright legislation. The original version of this article can be accessed at https://www.tickerreport.com/banking-finance/3343110/visa-v-position-increased-by-tci-wealth-advisors-inc.html.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.