Visa Inc (NYSE:V) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC trimmed its stake in shares of Visa Inc (NYSE:V) by 2.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 544,837 shares of the credit-card processor’s stock after selling 11,343 shares during the quarter. Visa accounts for 2.2% of Douglas Lane & Associates LLC’s holdings, making the stock its 7th largest holding. Douglas Lane & Associates LLC’s holdings in Visa were worth $108,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Hanson & Doremus Investment Management boosted its position in shares of Visa by 28.5% during the 3rd quarter. Hanson & Doremus Investment Management now owns 7,385 shares of the credit-card processor’s stock worth $1,477,000 after acquiring an additional 1,640 shares in the last quarter. Regent Investment Management LLC boosted its position in shares of Visa by 2.2% during the 3rd quarter. Regent Investment Management LLC now owns 17,154 shares of the credit-card processor’s stock worth $3,430,000 after acquiring an additional 375 shares in the last quarter. Iowa State Bank acquired a new position in shares of Visa during the 3rd quarter worth about $1,682,000. Dividend Assets Capital LLC boosted its position in shares of Visa by 10.7% during the 3rd quarter. Dividend Assets Capital LLC now owns 43,440 shares of the credit-card processor’s stock worth $8,687,000 after acquiring an additional 4,185 shares in the last quarter. Finally, Tower View Investment Management & Research LLC boosted its position in shares of Visa by 0.4% during the 3rd quarter. Tower View Investment Management & Research LLC now owns 19,352 shares of the credit-card processor’s stock worth $3,870,000 after acquiring an additional 76 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Visa from $196.00 to $203.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. JPMorgan Chase & Co. boosted their target price on Visa from $186.00 to $229.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Daiwa Capital Markets reissued a “neutral” rating and issued a $204.00 target price on shares of Visa in a report on Tuesday, July 21st. Goldman Sachs Group started coverage on Visa in a report on Tuesday, July 14th. They issued a “buy” rating and a $223.00 target price for the company. Finally, KeyCorp boosted their target price on Visa from $215.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, September 21st. Six equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $214.72.

In other news, insider Rajat Taneja sold 45,036 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was 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 Visa stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.00, for a total value of $1,365,000.00. Following the completion of the transaction, the chief executive officer now owns 130,090 shares of the company’s stock, valued at $25,367,550. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,122 shares of company stock worth $24,748,541. Corporate insiders own 0.19% of the company’s stock.

Shares of V stock opened at $196.97 on Tuesday. The company has a market cap of $382.59 billion, a price-to-earnings ratio of 37.52, a price-to-earnings-growth ratio of 3.05 and a beta of 0.90. The stock has a 50 day simple moving average of $203.04 and a 200-day simple moving average of $192.19. Visa Inc has a 12-month low of $133.93 and a 12-month high of $217.35. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.59.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.85 billion. Visa had a return on equity of 40.65% and a net margin of 51.37%. The company’s revenue for the quarter was down 18.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.37 EPS. On average, equities analysts forecast that Visa Inc will post 5.01 earnings per share for the current fiscal year.

Visa 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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Institutional Ownership by Quarter for Visa (NYSE:V)

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