Palisade Capital Management LLC NJ Buys 4,508 Shares of Visa Inc. (V)
Palisade Capital Management LLC NJ increased its stake in shares of Visa Inc. (NYSE:V) by 13.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 39,283 shares of the credit-card processor’s stock after acquiring an additional 4,508 shares during the period. Palisade Capital Management LLC NJ’s holdings in Visa were worth $3,684,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Mercer Capital Advisers Inc. lifted its position in Visa by 2.2% during 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 in the last quarter. Mascoma Wealth Management LLC acquired a new position in Visa during the 2nd quarter worth approximately $122,000. SpiderRock Advisors LLC lifted its position in Visa by 107.1% during 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 in the last quarter. Advantage Investment Management LLC lifted its position in Visa by 27.4% during 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 in the last quarter. Finally, Delta Asset Management LLC TN lifted its position in Visa by 11.7% during the 2nd quarter. Delta Asset Management LLC TN now owns 1,721 shares of the credit-card processor’s stock worth $161,000 after acquiring an additional 180 shares in the last quarter. 81.68% of the stock is currently owned by hedge funds and other institutional investors.
Visa Inc. (NYSE V) opened at 108.66 on Monday. The stock has a 50 day moving average price of $105.24 and a 200 day moving average price of $97.71. The company has a market cap of $248.44 billion, a PE ratio of 40.41 and a beta of 0.93. Visa Inc. has a 1-year low of $75.17 and a 1-year high of $109.26.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the previous year, the company posted $0.69 EPS. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. Equities analysts forecast that Visa Inc. will post $3.42 earnings per share for the current year.
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Several research firms recently commented on V. Vetr raised Visa from a “hold” rating to a “buy” rating and set a $100.12 price target on the stock in a research report on Tuesday, June 27th. Instinet upped their target price on Visa from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $100.00 target price (up from $87.50) on shares of Visa in a research report on Saturday, July 22nd. Citigroup Inc. reaffirmed a “buy” rating and issued a $115.00 target price (up from $100.00) on shares of Visa in a research report on Monday, July 24th. Finally, Zacks Investment Research lowered Visa from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Two research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $110.24.
In other news, Director Mary B. Cranston sold 10,400 shares of Visa stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total value of $1,074,528.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value 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 $1,751,797.60. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
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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