Traders Buy Visa (V) on Weakness
Traders purchased shares of Visa Inc (NYSE:V) on weakness during trading on Friday. $210.83 million flowed into the stock on the tick-up and $154.57 million flowed out of the stock on the tick-down, for a money net flow of $56.26 million into the stock. Of all stocks tracked, Visa had the 18th highest net in-flow for the day. Visa traded down ($0.61) for the day and closed at $138.06
Several equities analysts recently weighed in on the company. Piper Jaffray Companies reiterated an “overweight” rating and set a $178.00 target price on shares of Visa in a research report on Friday, December 21st. Goldman Sachs Group downgraded Visa from a “conviction-buy” rating to a “buy” rating and set a $160.00 target price on the stock. in a research report on Monday, September 17th. BMO Capital Markets increased their target price on Visa from $187.00 to $196.00 and gave the stock an “outperform” rating in a research report on Thursday, October 25th. Bank of America restated a “buy” rating and issued a $163.00 price objective on shares of Visa in a report on Monday, September 17th. Finally, Robert W. Baird raised their price objective on Visa from $156.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, September 14th. Two research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $158.10.
The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.58. The company has a market cap of $279.18 billion, a PE ratio of 29.95, a PEG ratio of 1.50 and a beta of 1.06.
In other news, SVP James H. Hoffmeister sold 2,252 shares of the stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $144.56, for a total value of $325,549.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William M. Sheedy sold 3,643 shares of the stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $133.07, for a total value of $484,774.01. Following the completion of the sale, the executive vice president now owns 241,983 shares of the company’s stock, valued at approximately $32,200,677.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,395 shares of company stock valued at $16,697,489. Insiders own 0.17% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Matthew Goff Investment Advisor LLC grew its stake in Visa by 13,144.9% during the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 7,929,067 shares of the credit-card processor’s stock valued at $59,865,000 after purchasing an additional 7,869,202 shares in the last quarter. Fundsmith Equity Fund L.P. acquired a new stake in Visa during the 2nd quarter valued at approximately $757,597,000. Capital Research Global Investors grew its stake in Visa by 3,913.7% during the 3rd quarter. Capital Research Global Investors now owns 4,507,351 shares of the credit-card processor’s stock valued at $676,508,000 after purchasing an additional 4,395,051 shares in the last quarter. Vontobel Asset Management Inc. acquired a new stake in Visa during the 2nd quarter valued at approximately $471,495,000. Finally, FMR LLC grew its stake in Visa by 2.9% during the 2nd quarter. FMR LLC now owns 85,466,413 shares of the credit-card processor’s stock valued at $11,320,026,000 after purchasing an additional 2,398,540 shares in the last quarter. Institutional investors and hedge funds own 80.10% of the company’s stock.
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About Visa (NYSE:V)
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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