Visa Inc (NYSE:V) Shares Purchased by Private Ocean LLC

Private Ocean LLC boosted its holdings in Visa Inc (NYSE:V) by 113.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 575 shares of the credit-card processor’s stock after acquiring an additional 305 shares during the period. Private Ocean LLC’s holdings in Visa were worth $99,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of V. Gladstone Institutional Advisory LLC lifted its holdings in Visa by 16.4% in the 2nd quarter. Gladstone Institutional Advisory LLC now owns 5,560 shares of the credit-card processor’s stock valued at $965,000 after purchasing an additional 782 shares in the last quarter. Asset Dedication LLC lifted its holdings in Visa by 4.2% in the 2nd quarter. Asset Dedication LLC now owns 16,109 shares of the credit-card processor’s stock valued at $2,799,000 after purchasing an additional 647 shares in the last quarter. Alera Investment Advisors LLC lifted its holdings in shares of Visa by 5.7% during the 2nd quarter. Alera Investment Advisors LLC now owns 1,599 shares of the credit-card processor’s stock worth $278,000 after acquiring an additional 86 shares during the period. Castle Rock Wealth Management LLC lifted its holdings in shares of Visa by 45.4% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 12,411 shares of the credit-card processor’s stock worth $2,154,000 after acquiring an additional 3,876 shares during the period. Finally, Doliver Advisors LP lifted its holdings in shares of Visa by 16.8% during the 2nd quarter. Doliver Advisors LP now owns 14,848 shares of the credit-card processor’s stock worth $2,577,000 after acquiring an additional 2,134 shares during the period. 80.98% of the stock is currently owned by hedge funds and other institutional investors.

NYSE V traded up $0.54 during mid-day trading on Friday, hitting $178.97. The company’s stock had a trading volume of 3,777,681 shares, compared to its average volume of 7,614,820. Visa Inc has a 52-week low of $121.60 and a 52-week high of $187.05. The stock’s fifty day simple moving average is $176.22 and its two-hundred day simple moving average is $173.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.56 and a quick ratio of 1.69. The firm has a market capitalization of $349.90 billion, a P/E ratio of 32.90, a price-to-earnings-growth ratio of 1.83 and a beta of 0.94.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, October 24th. The credit-card processor reported $1.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.04. Visa had a net margin of 52.57% and a return on equity of 42.57%. The firm had revenue of $6.14 billion for the quarter, compared to analyst estimates of $6.08 billion. During the same quarter last year, the firm posted $1.21 earnings per share. Visa’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities analysts forecast that Visa Inc will post 6.21 earnings per share for the current fiscal year.

The firm also recently declared a dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be issued a $0.30 dividend. The ex-dividend date is Thursday, November 14th. Visa’s payout ratio is 18.38%.

In other Visa news, EVP William M. Sheedy sold 21,164 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $178.71, for a total value of $3,782,218.44. Following the completion of the sale, the executive vice president now owns 227,126 shares of the company’s stock, valued at $40,589,687.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $177.79, for a total transaction of $1,244,530.00. Following the completion of the sale, the chief executive officer now directly owns 55,446 shares of the company’s stock, valued at approximately $9,857,744.34. The disclosure for this sale can be found here. Insiders sold 53,215 shares of company stock worth $9,564,487 in the last 90 days. 0.17% of the stock is currently owned by insiders.

Several research analysts have recently weighed in on the stock. Goldman Sachs Group reiterated a “buy” rating and set a $202.00 price objective on shares of Visa in a report on Wednesday, July 24th. BMO Capital Markets increased their price objective on shares of Visa from $231.00 to $239.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Morgan Stanley reiterated an “overweight” rating and set a $207.00 price objective on shares of Visa in a report on Friday, October 25th. Barclays increased their price objective on shares of Visa from $181.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Visa from $166.00 to $182.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Visa presently has an average rating of “Buy” and a consensus target price of $199.04.

About Visa

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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