Baystate Wealth Management LLC trimmed its holdings in shares of Visa Inc (NYSE:V) by 33.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,655 shares of the credit-card processor’s stock after selling 827 shares during the quarter. Baystate Wealth Management LLC’s holdings in Visa were worth $331,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Advisor Group Holdings Inc. purchased a new position in Visa in the 1st quarter worth approximately $102,656,000. Nordea Investment Management AB lifted its holdings in shares of Visa by 136.6% during the 2nd quarter. Nordea Investment Management AB now owns 7,031,720 shares of the credit-card processor’s stock worth $1,344,816,000 after acquiring an additional 4,059,677 shares during the last quarter. Lone Pine Capital LLC bought a new stake in shares of Visa during the 1st quarter worth $536,526,000. BlackRock Inc. grew its position in Visa by 2.3% in the second quarter. BlackRock Inc. now owns 126,278,384 shares of the credit-card processor’s stock worth $24,393,195,000 after acquiring an additional 2,819,598 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Visa by 17.4% in the first quarter. Invesco Ltd. now owns 9,034,998 shares of the credit-card processor’s stock valued at $1,455,717,000 after acquiring an additional 1,335,945 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.
A number of equities analysts have recently issued reports on V shares. Goldman Sachs Group initiated coverage on Visa in a report on Tuesday, July 14th. They issued a “buy” rating and a $223.00 price objective for the company. KeyCorp upped their target price on Visa from $215.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, September 21st. Wedbush reissued a “buy” rating and set a $220.00 price target on shares of Visa in a research note on Monday, October 5th. Wells Fargo & Company boosted their price objective on shares of Visa from $205.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. increased their target price on shares of Visa from $186.00 to $229.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Six equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Visa presently has a consensus rating of “Buy” and an average target price of $214.72.
Visa (NYSE:V) last announced its earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. Visa had a net margin of 51.37% and a return on equity of 40.65%. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the previous year, the firm posted $1.37 EPS. The company’s revenue for the quarter was down 18.6% compared to the same quarter last year. On average, analysts expect that Visa Inc will post 5.01 EPS for the current fiscal year.
In other news, insider Rajat Taneja sold 45,036 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $210.00, for a total transaction of $9,457,560.00. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.00, for a total transaction of $1,365,000.00. Following the completion of the sale, the chief executive officer now directly owns 130,090 shares in the company, valued at $25,367,550. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,122 shares of company stock worth $24,748,541. Insiders own 0.19% of the company’s stock.
Visa Company Profile
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.
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