Wallington Asset Management LLC Acquires 2,945 Shares of Visa Inc. (NYSE:V)

Wallington Asset Management LLC lifted its holdings in shares of Visa Inc. (NYSE:V) by 3.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 81,257 shares of the credit-card processor’s stock after purchasing an additional 2,945 shares during the quarter. Visa comprises about 3.1% of Wallington Asset Management LLC’s investment portfolio, making the stock its 8th biggest position. Wallington Asset Management LLC’s holdings in Visa were worth $22,342,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. POM Investment Strategies LLC boosted its holdings in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. TruNorth Capital Management LLC boosted its holdings in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC acquired a new position in Visa in the second quarter valued at $35,000. CarsonAllaria Wealth Management Ltd. acquired a new position in Visa in the second quarter valued at $35,000. Finally, Abich Financial Wealth Management LLC boosted its holdings in Visa by 52.9% in the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after acquiring an additional 46 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Down 0.4 %

NYSE:V opened at $283.76 on Thursday. The firm has a market capitalization of $517.10 billion, a PE ratio of 30.35, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. The stock has a 50 day moving average of $278.40 and a 200-day moving average of $273.10. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.16 earnings per share. Analysts predict that Visa Inc. will post 9.92 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on V. Robert W. Baird lifted their target price on Visa from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Royal Bank of Canada reduced their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. BMO Capital Markets boosted their price objective on Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, TD Cowen reduced their price objective on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $314.19.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Visa 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.