Tyche Wealth Partners LLC Increases Stock Holdings in Visa Inc. (NYSE:V)

Tyche Wealth Partners LLC increased its stake in shares of Visa Inc. (NYSE:V) by 0.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 26,373 shares of the credit-card processor’s stock after acquiring an additional 135 shares during the quarter. Visa accounts for 1.6% of Tyche Wealth Partners LLC’s portfolio, making the stock its 12th biggest position. Tyche Wealth Partners LLC’s holdings in Visa were worth $7,251,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. POM Investment Strategies LLC lifted its holdings in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the period. TruNorth Capital Management LLC increased its position in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC bought a new stake in shares of Visa during the 2nd quarter worth $35,000. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Visa in the 2nd quarter worth about $35,000. Finally, Abich Financial Wealth Management LLC grew its position in Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after buying an additional 46 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on V shares. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research report on Tuesday, September 3rd. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. JPMorgan Chase & Co. increased their price objective on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Royal Bank of Canada boosted their target price on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Compass Point initiated coverage on Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target on the stock. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $320.07.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was 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 of the company’s stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Visa Price Performance

V stock opened at $290.16 on Thursday. The firm has a 50 day simple moving average of $280.09 and a two-hundred day simple moving average of $273.38. The stock has a market cap of $530.68 billion, a PE ratio of 32.42, a P/E/G ratio of 1.95 and a beta of 0.96. Visa Inc. has a one year low of $232.99 and a one year high of $295.78. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the business earned $2.33 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

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.