Coastal Investment Advisors Inc. cut its stake in shares of Visa Inc. (NYSE:V) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,123 shares of the credit-card processor’s stock after selling 367 shares during the period. Visa makes up 0.6% of Coastal Investment Advisors Inc.’s investment portfolio, making the stock its 27th biggest holding. Coastal Investment Advisors Inc.’s holdings in Visa were worth $2,214,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Newfound Research LLC purchased a new stake in Visa during the 3rd quarter valued at approximately $31,000. Brand Asset Management Group Inc. increased its position in Visa by 52.7% during the 3rd quarter. Brand Asset Management Group Inc. now owns 258 shares of the credit-card processor’s stock worth $52,000 after purchasing an additional 89 shares during the period. Catalyst Private Wealth LLC acquired a new position in Visa during the 3rd quarter worth approximately $59,000. TFC Financial Management acquired a new position in Visa during the 3rd quarter worth approximately $65,000. Finally, ELM Advisors LLC acquired a new position in Visa during the 4th quarter worth approximately $73,000. 80.74% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:V opened at $209.35 on Thursday. The firm has a fifty day moving average of $211.56 and a two-hundred day moving average of $202.74. The firm has a market capitalization of $407.94 billion, a P/E ratio of 39.88, a price-to-earnings-growth ratio of 2.59 and a beta of 0.91. Visa Inc. has a 12-month low of $133.93 and a 12-month high of $220.39. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.59.
In related news, CAO James H. Hoffmeister sold 2,157 shares of the stock in a transaction that occurred on Wednesday, December 2nd. The shares were sold at an average price of $208.87, for a total value of $450,532.59. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the stock in a transaction that occurred on Monday, November 30th. The shares were sold at an average price of $209.40, for a total transaction of $1,884,600.00. Following the completion of the transaction, the chief executive officer now owns 132,660 shares in the company, valued at $27,779,004. The disclosure for this sale can be found here. Insiders have sold 80,205 shares of company stock worth $17,188,463 over the last ninety days. Insiders own 0.19% of the company’s stock.
Several equities analysts have issued reports on V shares. Jefferies Financial Group upgraded Visa from a “hold” rating to a “buy” rating and boosted their target price for the stock from $195.00 to $250.00 in a research report on Wednesday. Mizuho restated a “buy” rating and issued a $250.00 price target on shares of Visa in a report on Thursday, October 8th. Oppenheimer restated a “buy” rating and issued a $212.00 price target (down previously from $233.00) on shares of Visa in a report on Thursday, October 29th. Royal Bank of Canada restated a “buy” rating and issued a $243.00 price target on shares of Visa in a report on Sunday, October 11th. Finally, Seaport Global Securities assumed coverage on Visa in a report on Monday, December 7th. They issued a “buy” rating and a $250.00 price target on the stock. Six analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Visa currently has a consensus rating of “Buy” and a consensus target price of $220.41.
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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