Gladstone Institutional Advisory LLC Acquires 782 Shares of Visa Inc (NYSE:V)

Gladstone Institutional Advisory LLC raised its stake in shares of Visa Inc (NYSE:V) by 16.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,560 shares of the credit-card processor’s stock after acquiring an additional 782 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Visa were worth $965,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Advisors Asset Management Inc. raised its position in shares of Visa by 0.6% during the 4th quarter. Advisors Asset Management Inc. now owns 456,714 shares of the credit-card processor’s stock worth $60,259,000 after purchasing an additional 2,895 shares during the last quarter. Cary Street Partner Investment Advisory LLC acquired a new position in Visa in the 4th quarter valued at $210,000. Progressive Investment Management Corp raised its holdings in Visa by 2.4% in the 4th quarter. Progressive Investment Management Corp now owns 47,458 shares of the credit-card processor’s stock valued at $6,262,000 after acquiring an additional 1,131 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Visa by 8.7% in the 4th quarter. Mackenzie Financial Corp now owns 1,833,442 shares of the credit-card processor’s stock valued at $241,904,000 after acquiring an additional 146,428 shares during the last quarter. Finally, Trust Co. of Virginia VA raised its holdings in Visa by 0.3% in the 4th quarter. Trust Co. of Virginia VA now owns 91,921 shares of the credit-card processor’s stock valued at $12,128,000 after acquiring an additional 284 shares during the last quarter. Hedge funds and other institutional investors own 80.99% of the company’s stock.

Several research analysts have weighed in on the company. ValuEngine downgraded Visa from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. Wells Fargo & Co upped their price objective on Visa from $181.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. Deutsche Bank upped their price objective on Visa from $177.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. SunTrust Banks upped their price objective on Visa to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Barclays upped their price target on shares of Visa from $181.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $196.57.

In related news, Director Lloyd Carney sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $182.73, for a total transaction of $639,555.00. Following the completion of the sale, the director now directly owns 3,452 shares in the company, valued at $630,783.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Denise M. Morrison bought 1,000 shares of Visa stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $171.13 per share, with a total value of $171,130.00. Following the completion of the acquisition, the director now directly owns 3,223 shares of the company’s stock, valued at approximately $551,551.99. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

Shares of NYSE:V opened at $174.88 on Thursday. The firm’s 50 day moving average is $177.21 and its two-hundred day moving average is $170.42. Visa Inc has a 52 week low of $121.60 and a 52 week high of $187.05. The firm has a market capitalization of $346.99 billion, a P/E ratio of 37.93, a PEG ratio of 1.80 and a beta of 0.96. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.57.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 EPS for the quarter, beating the consensus estimate of $1.33 by $0.04. Visa had a net margin of 53.43% and a return on equity of 41.04%. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter last year, the business earned $1.20 earnings per share. Visa’s revenue was up 11.5% compared to the same quarter last year. Analysts predict that Visa Inc will post 5.41 EPS for the current year.

Visa Company Profile

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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Institutional Ownership by Quarter for Visa (NYSE:V)

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