Pillar Pacific Capital Management LLC raised its position in Visa Inc (NYSE:V) by 19.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,983 shares of the credit-card processor’s stock after acquiring an additional 1,635 shares during the quarter. Pillar Pacific Capital Management LLC’s holdings in Visa were worth $1,051,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Cordasco Financial Network acquired a new stake in shares of Visa during the 3rd quarter worth about $105,000. Motco lifted its stake in shares of Visa by 25.1% during the 2nd quarter. Motco now owns 1,176 shares of the credit-card processor’s stock worth $110,000 after buying an additional 236 shares during the last quarter. BDO Wealth Advisors LLC acquired a new stake in shares of Visa during the 2nd quarter worth about $115,000. Mascoma Wealth Management LLC acquired a new stake in shares of Visa during the 2nd quarter worth about $122,000. Finally, MPS Loria Financial Planners LLC acquired a new stake in shares of Visa during the 2nd quarter worth about $123,000. Hedge funds and other institutional investors own 81.50% of the company’s stock.
A number of analysts have recently issued reports on the stock. Vetr upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $108.51 target price for the company in a research note on Tuesday, September 26th. Loop Capital lifted their price objective on shares of Visa from $111.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $141.00 price objective on shares of Visa in a research note on Friday, December 22nd. Robert W. Baird reiterated a “buy” rating and issued a $122.00 price objective on shares of Visa in a research note on Tuesday, September 26th. Finally, Barclays reiterated a “buy” rating and issued a $145.00 price objective on shares of Visa in a research note on Friday. Three investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $119.53.
Visa (NYSE:V) last released its earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 EPS for the quarter, beating the consensus estimate of $0.85 by $0.05. Visa had a net margin of 36.49% and a return on equity of 31.80%. The firm had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same period last year, the firm earned $0.78 EPS. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. equities research analysts predict that Visa Inc will post 4.07 earnings per share for the current year.
In related news, SVP James H. Hoffmeister sold 2,146 shares of Visa stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $112.09, for a total transaction of $240,545.14. Following the sale, the senior vice president now directly owns 687 shares of the company’s stock, valued at approximately $77,005.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert W. Matschullat sold 6,220 shares of Visa stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $113.76, for a total transaction of $707,587.20. Following the sale, the director now directly owns 57,368 shares in the company, valued at $6,526,183.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,068 shares of company stock worth $6,597,262. Insiders own 0.14% of the company’s stock.
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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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