Avitas Wealth Management LLC Cuts Holdings in Visa Inc. (NYSE:V)

Avitas Wealth Management LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,020 shares of the credit-card processor’s stock after selling 368 shares during the quarter. Avitas Wealth Management LLC’s holdings in Visa were worth $5,504,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. International Assets Investment Management LLC grew its holdings in Visa by 45,189.4% in the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after purchasing an additional 9,736,958 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Visa by 4,412.3% during the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after buying an additional 4,166,905 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Visa by 787.1% during the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after buying an additional 4,099,122 shares during the last quarter. Swedbank AB purchased a new stake in shares of Visa during the first quarter valued at $511,321,000. Finally, GQG Partners LLC grew its holdings in shares of Visa by 40.1% during the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after buying an additional 1,715,686 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Up 2.9 %

Shares of NYSE V opened at $290.16 on Thursday. Visa Inc. has a 12-month low of $232.99 and a 12-month high of $295.78. The stock has a market cap of $530.68 billion, a PE ratio of 32.42, a P/E/G ratio of 1.95 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average of $280.09 and a 200 day moving average of $273.38.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the prior year, the company earned $2.33 EPS. Visa’s revenue was up 11.7% compared to the same quarter last year. As a group, sell-side analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on V shares. Robert W. Baird boosted their price objective on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday. Susquehanna boosted their price objective on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a report on Wednesday. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Macquarie boosted their target price on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $320.07.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.