Visa Inc (NYSE:V) Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its holdings in Visa Inc (NYSE:V) by 31.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,838 shares of the credit-card processor’s stock after purchasing an additional 3,287 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Visa were worth $2,767,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Visa by 2.3% during the second quarter. BlackRock Inc. now owns 126,278,384 shares of the credit-card processor’s stock valued at $24,393,195,000 after acquiring an additional 2,819,598 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Visa by 3.2% during the second quarter. Fisher Asset Management LLC now owns 20,979,235 shares of the credit-card processor’s stock worth $4,052,559,000 after buying an additional 660,147 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Visa by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 16,917,898 shares of the credit-card processor’s stock worth $3,268,029,000 after buying an additional 260,069 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Visa by 5.6% during the second quarter. Nuveen Asset Management LLC now owns 16,193,092 shares of the credit-card processor’s stock worth $3,128,020,000 after buying an additional 862,914 shares during the period. Finally, Swiss National Bank boosted its position in shares of Visa by 0.8% during the second quarter. Swiss National Bank now owns 7,448,494 shares of the credit-card processor’s stock worth $1,438,826,000 after buying an additional 62,100 shares during the period. 80.74% of the stock is owned by institutional investors.

V traded down $5.30 during trading on Monday, reaching $192.71. The company’s stock had a trading volume of 383,437 shares, compared to its average volume of 9,955,908. Visa Inc has a 52-week low of $133.93 and a 52-week high of $217.35. The company’s fifty day moving average price is $201.72 and its 200-day moving average price is $193.07. The company has a market capitalization of $384.61 billion, a price-to-earnings ratio of 36.76, a price-to-earnings-growth ratio of 2.59 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.55 and a current ratio of 1.55.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. Visa had a return on equity of 40.65% and a net margin of 51.37%. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the previous year, the company earned $1.37 EPS. The firm’s revenue for the quarter was down 18.6% compared to the same quarter last year. Equities analysts predict that Visa Inc will post 5.01 earnings per share for the current year.

In other news, EVP Lynne Biggar sold 5,500 shares of Visa stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $199.99, for a total transaction of $1,099,945.00. Following the completion of the sale, the executive vice president now directly owns 19,370 shares in the company, valued at approximately $3,873,806.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Rajat Taneja sold 45,036 shares of Visa stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $210.00, for a total transaction of $9,457,560.00. Over the last quarter, insiders have sold 118,122 shares of company stock valued at $24,748,541. Insiders own 0.19% of the company’s stock.

Several research analysts have recently commented on the company. Mizuho restated a “buy” rating and set a $250.00 price target on shares of Visa in a research report on Thursday, October 8th. Barclays increased their price objective on Visa from $225.00 to $235.00 and gave the company an “overweight” rating in a research note on Wednesday, October 21st. Piper Sandler raised their price target on Visa from $200.00 to $206.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Wedbush restated a “buy” rating and issued a $220.00 price target on shares of Visa in a research note on Monday, October 5th. Finally, Morgan Stanley raised their price target on Visa from $211.00 to $228.00 and gave the company an “overweight” rating in a research note on Monday. Six research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $216.48.

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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