Pettinga Financial Advisors LLC Buys Shares of 829 Visa Inc. (NYSE:V)

Pettinga Financial Advisors LLC purchased a new position in shares of Visa Inc. (NYSE:V) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 829 shares of the credit-card processor’s stock, valued at approximately $228,000.

Several other institutional investors have also modified their holdings of V. International Assets Investment Management LLC boosted its stake in Visa by 45,189.4% during 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 buying an additional 9,736,958 shares during the period. SG Americas Securities LLC boosted its position in shares of Visa by 4,412.3% during the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after purchasing an additional 4,166,905 shares during the period. National Bank of Canada FI increased its holdings in Visa by 787.1% in the 1st 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 purchasing an additional 4,099,122 shares during the last quarter. Swedbank AB purchased a new stake in Visa in the first quarter valued at approximately $511,321,000. Finally, GQG Partners LLC lifted its stake in Visa by 40.1% during the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after purchasing an additional 1,715,686 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on V. Robert W. Baird boosted their price objective 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 reissued a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. BMO Capital Markets lifted their price objective on shares of Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Finally, BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a research note on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $314.19.

Visa Trading Down 0.5 %

Shares of V opened at $281.73 on Friday. The stock has a market cap of $515.27 billion, a PE ratio of 31.48, a P/E/G ratio of 1.96 and a beta of 0.96. The stock’s 50-day moving average is $279.02 and its two-hundred day moving average is $273.19. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

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

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is owned by corporate insiders.

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.