Visa Inc. (V) Shares Bought by Bessemer Group Inc.
Bessemer Group Inc. increased its holdings in Visa Inc. (NYSE:V) by 0.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,490,278 shares of the credit-card processor’s stock after buying an additional 30,223 shares during the quarter. Visa comprises 1.3% of Bessemer Group Inc.’s portfolio, making the stock its 8th largest holding. Bessemer Group Inc. owned about 0.15% of Visa worth $327,318,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Mercer Capital Advisers Inc. grew its holdings in Visa by 2.2% in the 1st quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after buying an additional 25 shares in the last quarter. Smithfield Trust Co. grew its holdings in Visa by 0.3% in the 1st quarter. Smithfield Trust Co. now owns 9,047 shares of the credit-card processor’s stock worth $804,000 after buying an additional 25 shares in the last quarter. Harwood Advisory Group LLC grew its holdings in Visa by 0.9% in the 2nd quarter. Harwood Advisory Group LLC now owns 2,765 shares of the credit-card processor’s stock worth $259,000 after buying an additional 25 shares in the last quarter. Sky Investment Group LLC grew its holdings in Visa by 0.9% in the 2nd quarter. Sky Investment Group LLC now owns 2,685 shares of the credit-card processor’s stock worth $252,000 after buying an additional 25 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in Visa by 0.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,994 shares of the credit-card processor’s stock worth $533,000 after buying an additional 27 shares in the last quarter. 81.69% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on the company. Loop Capital increased their price objective on Visa from $101.00 to $111.00 and gave the stock a “buy” rating in a report on Friday, July 21st. They noted that the move was a valuation call. Deutsche Bank AG increased their price target on Visa from $124.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 10th. Cantor Fitzgerald started coverage on Visa in a research note on Thursday, September 28th. They set an “overweight” rating and a $120.00 price target for the company. Instinet increased their price target on Visa from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Finally, BidaskClub raised Visa from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Three equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Visa has an average rating of “Buy” and an average target price of $108.76.
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In other news, Director Mary B. Cranston sold 10,400 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $103.32, for a total value of $1,074,528.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the completion of the transaction, the executive vice president now directly owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.
Shares of Visa Inc. (V) opened at 106.73 on Friday. Visa Inc. has a 12-month low of $75.17 and a 12-month high of $106.96. The stock has a market cap of $244.03 billion, a price-to-earnings ratio of 39.69 and a beta of 0.93. The stock has a 50 day moving average price of $104.52 and a 200-day moving average price of $96.90.
Visa (NYSE:V) last announced its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 30.95%. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the previous year, the business earned $0.69 EPS. The firm’s revenue was up 25.8% on a year-over-year basis. Equities analysts anticipate that Visa Inc. will post $3.43 EPS for the current fiscal year.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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