Lederer & Associates Investment Counsel CA Sells 154 Shares of Visa Inc. (NYSE:V)

Lederer & Associates Investment Counsel CA cut its stake in Visa Inc. (NYSE:V) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,602 shares of the credit-card processor’s stock after selling 154 shares during the quarter. Visa comprises approximately 2.2% of Lederer & Associates Investment Counsel CA’s investment portfolio, making the stock its 9th biggest position. Lederer & Associates Investment Counsel CA’s holdings in Visa were worth $3,190,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. POM Investment Strategies LLC lifted 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 lifted its stake in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC acquired a new stake in shares of Visa during the 2nd quarter worth about $35,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in Visa in the 2nd quarter valued at about $35,000. Finally, Abich Financial Wealth Management LLC lifted its position 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 buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction 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 in the company, valued at $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by company insiders.

Visa Stock Performance

Shares of V stock opened at $284.19 on Tuesday. The stock’s 50-day moving average is $279.37 and its two-hundred day moving average is $273.22. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a 1 year low of $230.03 and a 1 year high of $293.07. The firm has a market cap of $519.77 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 1.95 and a beta of 0.96.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on V shares. Compass Point initiated coverage on shares of Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target on the stock. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a research note on Tuesday, September 3rd. Bank of America lifted their price objective on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Macquarie reissued an “outperform” rating and set a $300.00 target price on shares of Visa in a research note on Friday, September 27th. Finally, StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.19.

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.