Visa Inc (V) Shares Bought by Main Street Research LLC

Main Street Research LLC lifted its stake in Visa Inc (NYSE:V) by 6.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 127,031 shares of the credit-card processor’s stock after buying an additional 7,576 shares during the quarter. Visa makes up 2.7% of Main Street Research LLC’s holdings, making the stock its 9th largest position. Main Street Research LLC’s holdings in Visa were worth $19,066,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Parallel Advisors LLC increased its position in Visa by 8.6% during the second quarter. Parallel Advisors LLC now owns 50,638 shares of the credit-card processor’s stock worth $6,707,000 after acquiring an additional 4,030 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in Visa by 9.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 725,469 shares of the credit-card processor’s stock worth $96,093,000 after acquiring an additional 63,291 shares during the period. Providence First Trust Co increased its position in Visa by 2.3% during the second quarter. Providence First Trust Co now owns 16,864 shares of the credit-card processor’s stock worth $2,234,000 after acquiring an additional 383 shares during the period. Cascade Investment Advisors Inc. bought a new position in Visa during the second quarter worth about $132,000. Finally, Weatherly Asset Management L. P. increased its position in Visa by 23.9% during the second quarter. Weatherly Asset Management L. P. now owns 18,294 shares of the credit-card processor’s stock worth $2,423,000 after acquiring an additional 3,526 shares during the period. Hedge funds and other institutional investors own 80.10% of the company’s stock.

NYSE:V opened at $138.06 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.61 and a current ratio of 1.61. Visa Inc has a one year low of $111.02 and a one year high of $151.56. The company has a market cap of $279.18 billion, a P/E ratio of 29.95, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06.

Visa (NYSE:V) last posted its earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 EPS for the quarter, topping the consensus estimate of $1.20 by $0.01. Visa had a net margin of 49.98% and a return on equity of 38.00%. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.44 billion. On average, analysts expect that Visa Inc will post 5.33 earnings per share for the current fiscal year.

In other Visa news, SVP James H. Hoffmeister sold 2,252 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $144.56, for a total transaction of $325,549.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William M. Sheedy sold 3,643 shares of the firm’s stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $133.07, for a total transaction of $484,774.01. Following the transaction, the executive vice president now owns 241,983 shares of the company’s stock, valued at approximately $32,200,677.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,395 shares of company stock worth $16,697,489. 0.17% of the stock is owned by corporate insiders.

A number of research firms recently commented on V. Wells Fargo & Co raised their price target on shares of Visa from $161.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, October 1st. Zacks Investment Research raised shares of Visa from a “hold” rating to a “buy” rating and set a $168.00 target price on the stock in a report on Tuesday, September 25th. BMO Capital Markets initiated coverage on shares of Visa in a report on Wednesday, September 26th. They issued an “outperform” rating and a $187.00 target price on the stock. Goldman Sachs Group lowered shares of Visa from a “conviction-buy” rating to a “buy” rating and set a $160.00 target price on the stock. in a report on Monday, September 17th. Finally, Bank of America reissued a “buy” rating and issued a $163.00 target price on shares of Visa in a report on Monday, September 17th. Two analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $158.10.

ILLEGAL ACTIVITY WARNING: “Visa Inc (V) Shares Bought by Main Street Research LLC” was posted by WKRB News and is the property of of WKRB News. If you are reading this article on another domain, it was illegally copied and republished in violation of U.S. & international copyright laws. The legal version of this article can be accessed at https://www.wkrb13.com/2019/01/12/visa-inc-v-shares-bought-by-main-street-research-llc.html.

About Visa

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.

Read More: The components of the Stochastic Momentum Index

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc (NYSE:V).

Institutional Ownership by Quarter for Visa (NYSE:V)

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.

Leave a Reply