Visa Inc. (V) Holdings Cut by Suffolk Capital Management LLC
Suffolk Capital Management LLC decreased its holdings in shares of Visa Inc. (NYSE:V) by 4.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,158 shares of the credit-card processor’s stock after selling 3,412 shares during the period. Suffolk Capital Management LLC’s holdings in Visa were worth $6,767,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Mercer Capital Advisers Inc. grew its holdings in shares of 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 acquiring an additional 25 shares during the period. Mascoma Wealth Management LLC acquired a new stake in shares of Visa in the 2nd quarter worth approximately $122,000. SpiderRock Advisors LLC grew its holdings in shares of Visa by 107.1% in the 2nd quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock worth $124,000 after acquiring an additional 19,709 shares during the period. Advantage Investment Management LLC grew its holdings in shares of Visa by 27.4% in the 1st quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock worth $130,000 after acquiring an additional 314 shares during the period. Finally, Delta Asset Management LLC TN grew its holdings in shares of Visa by 2.5% in the 1st quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock worth $137,000 after acquiring an additional 38 shares during the period. Institutional investors own 81.69% of the company’s stock.
In related news, Director Mary B. Cranston sold 10,400 shares of Visa 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tullier Kelly Mahon sold 29,772 shares of Visa 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 sale, 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 currently owned by insiders.
V has been the topic of a number of research reports. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a report on Tuesday, September 19th. BidaskClub cut Visa from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. UBS AG restated an “overweight” rating on shares of Visa in a report on Thursday, August 24th. Credit Suisse Group set a $112.00 price target on Visa and gave the stock a “buy” rating in a report on Saturday, July 22nd. Finally, Sandler O’Neill restated a “hold” rating on shares of Visa in a report on Wednesday, June 21st. Three analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $108.76.
Shares of Visa Inc. (V) opened at 106.73 on Friday. Visa Inc. has a one year low of $75.17 and a one year high of $106.96. The firm has a market capitalization of $244.03 billion, a P/E ratio of 39.69 and a beta of 0.93. The company has a 50-day moving average price of $104.52 and a 200 day moving average price of $96.90.
Visa (NYSE:V) last released its quarterly earnings data 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 business 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. Visa’s quarterly revenue was up 25.8% compared to the same quarter last year. Analysts expect that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
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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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