Wealth Effects LLC Sells 120 Shares of Visa Inc. (NYSE:V)

Wealth Effects LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 3.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,641 shares of the credit-card processor’s stock after selling 120 shares during the quarter. Wealth Effects LLC’s holdings in Visa were worth $1,001,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of V. Whitaker Myers Wealth Managers LTD. bought a new stake in shares of Visa during the 1st quarter valued at $332,000. Worth Asset Management LLC increased its position in Visa by 14.5% in the first quarter. Worth Asset Management LLC now owns 2,026 shares of the credit-card processor’s stock worth $565,000 after buying an additional 256 shares in the last quarter. Strategic Planning Group LLC raised its stake in shares of Visa by 16.7% in the first quarter. Strategic Planning Group LLC now owns 4,826 shares of the credit-card processor’s stock worth $1,347,000 after buying an additional 690 shares during the period. Salvus Wealth Management LLC grew its stake in shares of Visa by 12.2% during the 1st quarter. Salvus Wealth Management LLC now owns 2,737 shares of the credit-card processor’s stock valued at $764,000 after acquiring an additional 297 shares during the period. Finally, Capital Advisors Wealth Management LLC increased its holdings in Visa by 4.9% in the 1st quarter. Capital Advisors Wealth Management LLC now owns 13,668 shares of the credit-card processor’s stock worth $3,815,000 after acquiring an additional 644 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 1.3 %

Shares of V opened at $286.85 on Tuesday. Visa Inc. has a twelve month low of $228.03 and a twelve month high of $293.07. The company has a market cap of $524.63 billion, a P/E ratio of 32.05, a P/E/G ratio of 2.00 and a beta of 0.96. The company’s fifty day simple moving average is $277.45 and its 200-day simple moving average is $272.97. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.16 EPS. As a group, analysts expect that Visa Inc. will post 9.92 EPS for the current year.

Analyst Upgrades and Downgrades

V has been the subject of a number of recent analyst reports. TD Cowen dropped their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Evercore ISI dropped their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Oppenheimer assumed coverage on Visa in a report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price target on the stock. JPMorgan Chase & Co. upped their price target on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $314.19.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.