Lake Street Private Wealth LLC Sells 1,874 Shares of Visa Inc. (NYSE:V)

Lake Street Private Wealth LLC lessened its holdings in shares of Visa Inc. (NYSE:V) by 10.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 16,131 shares of the credit-card processor’s stock after selling 1,874 shares during the period. Lake Street Private Wealth LLC’s holdings in Visa were worth $4,435,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Hilltop National Bank bought a new position in Visa in the 1st quarter valued at $1,212,000. Absolute Capital Management LLC acquired a new stake in Visa in the first quarter worth about $404,000. Davidson Capital Management Inc. raised its holdings in Visa by 0.5% during the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after purchasing an additional 44 shares during the last quarter. Empirical Finance LLC lifted its position in Visa by 4.4% during the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after purchasing an additional 1,914 shares during the period. Finally, Arjuna Capital boosted its stake in shares of Visa by 0.8% in the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after purchasing an additional 96 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Visa

In other 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 completion of 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.

Visa Trading Down 0.4 %

NYSE V opened at $283.76 on Thursday. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock’s 50 day moving average price is $278.40 and its two-hundred day moving average price is $273.10. The stock has a market capitalization of $517.10 billion, a price-to-earnings ratio of 30.35, a PEG ratio of 1.96 and a beta of 0.96.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Morgan Stanley reissued an “overweight” rating and set a $322.00 price target on shares of Visa in a research note on Wednesday, September 25th. Bank of America upped their target price on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Royal Bank of Canada reduced their price target on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Robert W. Baird lifted their price objective on Visa from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Oppenheimer started coverage on Visa in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $314.19.

Visa Company Profile

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.