Obermeyer Wood Investment Counsel Lllp reduced its stake in shares of Visa Inc (NYSE:V) by 70.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,123 shares of the credit-card processor’s stock after selling 5,154 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in Visa were worth $281,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the company. HC Financial Advisors Inc. bought a new position in Visa during the fourth quarter valued at about $2,805,000. Rehmann Capital Advisory Group raised its holdings in Visa by 7.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 12,765 shares of the credit-card processor’s stock valued at $1,455,000 after buying an additional 830 shares in the last quarter. Wagner Wealth Management LLC bought a new position in Visa during the fourth quarter valued at about $253,000. Ackerman Capital Advisors LLC bought a new position in Visa during the fourth quarter valued at about $461,000. Finally, Certified Advisory Corp bought a new position in Visa during the fourth quarter valued at about $465,000. 80.18% of the stock is owned by hedge funds and other institutional investors.
Shares of V opened at $145.36 on Monday. Visa Inc has a 12-month low of $105.87 and a 12-month high of $151.56. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.69 and a current ratio of 1.69. The stock has a market cap of $305.32 billion, a P/E ratio of 41.77, a PEG ratio of 1.86 and a beta of 1.06.
V has been the topic of several recent research reports. Morgan Stanley raised their target price on Visa from $142.00 to $165.00 and gave the company a “$140.13” rating in a report on Thursday, July 19th. Buckingham Research lifted their price objective on Visa from $152.00 to $169.00 and gave the stock a “buy” rating in a research note on Tuesday, June 26th. SunTrust Banks lifted their price objective on Visa to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. They noted that the move was a valuation call. Loop Capital lifted their price objective on Visa to $157.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. They noted that the move was a valuation call. Finally, Bank of America lifted their price objective on Visa from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, July 17th. Two investment analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $152.88.
In other Visa news, CFO Vasant M. Prabhu sold 25,064 shares of Visa stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $140.56, for a total transaction of $3,522,995.84. Following the sale, the chief financial officer now directly owns 58,232 shares of the company’s stock, valued at $8,185,089.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James H. Hoffmeister sold 6,912 shares of Visa stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $140.01, for a total value of $967,749.12. Following the sale, the senior vice president now directly owns 6,912 shares in the company, valued at $967,749.12. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
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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