Adams Diversified Equity Fund Inc. Lowers Position in Visa Inc. (NYSE:V)

Adams Diversified Equity Fund Inc. lessened its holdings in shares of Visa Inc. (NYSE:V) by 28.4% during the third quarter, HoldingsChannel reports. The fund owned 139,761 shares of the credit-card processor’s stock after selling 55,400 shares during the period. Visa comprises approximately 1.4% of Adams Diversified Equity Fund Inc.’s investment portfolio, making the stock its 12th biggest holding. Adams Diversified Equity Fund Inc.’s holdings in Visa were worth $38,427,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. POM Investment Strategies LLC raised its holdings in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the last quarter. TruNorth Capital Management LLC increased its position in shares of 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 buying an additional 89 shares in the last quarter. Abich Financial Wealth Management LLC raised its stake in shares of Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after buying an additional 46 shares during the last quarter. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Visa in the 2nd quarter worth about $35,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in Visa in the 2nd quarter valued at about $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

Shares of NYSE V opened at $290.16 on Thursday. The business has a 50 day moving average price of $280.09 and a two-hundred day moving average price of $273.38. Visa Inc. has a fifty-two week low of $232.99 and a fifty-two week high of $295.78. The firm has a market cap of $530.68 billion, a PE ratio of 32.42, a price-to-earnings-growth ratio of 1.95 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.33 EPS. Sell-side analysts expect that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Citigroup lifted their price objective on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research report on Wednesday. Susquehanna lifted their price objective on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research report on Wednesday. Oppenheimer reiterated an “outperform” rating and set a $321.00 target price (up from $318.00) on shares of Visa in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday. Finally, BMO Capital Markets raised their target price on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday. 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 company. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $320.07.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on 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 in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.19% of the company’s stock.

About Visa

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.