Visa Inc. (NYSE:V) Shares Purchased by Monte Financial Group LLC

Monte Financial Group LLC boosted its position in shares of Visa Inc. (NYSE:V) by 2.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,567 shares of the credit-card processor’s stock after acquiring an additional 155 shares during the period. Monte Financial Group LLC’s holdings in Visa were worth $1,531,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wallington Asset Management LLC lifted its stake in shares of Visa by 3.8% in the third quarter. Wallington Asset Management LLC now owns 81,257 shares of the credit-card processor’s stock worth $22,342,000 after buying an additional 2,945 shares in the last quarter. Iron Horse Wealth Management LLC increased its position in shares of Visa by 15.9% during the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock valued at $74,000 after acquiring an additional 37 shares during the last quarter. AMS Capital Ltda increased its position in shares of Visa by 69.5% during the third quarter. AMS Capital Ltda now owns 40,936 shares of the credit-card processor’s stock valued at $11,255,000 after acquiring an additional 16,789 shares during the last quarter. Sterling Investment Counsel LLC grew its holdings in shares of Visa by 6.5% in the third quarter. Sterling Investment Counsel LLC now owns 12,038 shares of the credit-card processor’s stock valued at $3,310,000 after purchasing an additional 731 shares in the last quarter. Finally, Altus Wealth Group LLC grew its holdings in shares of Visa by 3.2% in the third quarter. Altus Wealth Group LLC now owns 7,035 shares of the credit-card processor’s stock valued at $1,934,000 after purchasing an additional 218 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V opened at $283.22 on Friday. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07. The firm has a fifty day simple moving average of $278.40 and a 200 day simple moving average of $273.10. The stock has a market capitalization of $517.99 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 1.96 and a beta of 0.96. 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 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. The firm 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 company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.16 earnings per share. Research analysts forecast that Visa Inc. will post 9.92 EPS for the current fiscal year.

Insider Buying and Selling

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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on V shares. Bank of America lifted their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. TD Cowen reduced 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. Morgan Stanley reissued an “overweight” rating and issued a $322.00 price objective on shares of Visa in a research note on Wednesday, September 25th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a report on Tuesday, September 3rd. Finally, Piper Sandler dropped their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $314.19.

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.