Townsend Asset Management Corp NC ADV Acquires 138 Shares of Visa Inc. (NYSE:V)

Townsend Asset Management Corp NC ADV grew its holdings in shares of Visa Inc. (NYSE:V) by 0.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,976 shares of the credit-card processor’s stock after buying an additional 138 shares during the quarter. Visa accounts for about 3.4% of Townsend Asset Management Corp NC ADV’s holdings, making the stock its 6th biggest position. Townsend Asset Management Corp NC ADV’s holdings in Visa were worth $9,067,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in V. POM Investment Strategies LLC boosted its holdings in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the last quarter. TruNorth Capital Management LLC boosted its holdings in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC purchased a new position in Visa during the second quarter worth about $35,000. CarsonAllaria Wealth Management Ltd. bought a new stake in Visa in the 2nd quarter worth about $35,000. Finally, Abich Financial Wealth Management LLC increased its stake in Visa by 52.9% in the 1st 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. 82.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on V shares. Bank of America upped their target price on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. BMO Capital Markets upped their price objective on Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Oppenheimer assumed coverage on shares of Visa in a report on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 price target on the stock. William Blair upgraded shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, Compass Point began coverage on shares of Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price on the stock. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $314.19.

Visa Stock Performance

NYSE V opened at $286.85 on Tuesday. The company’s 50 day simple moving average is $277.45 and its two-hundred day simple moving average is $272.97. 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 Inc. has a 1 year low of $228.03 and a 1 year high of $293.07. The stock has a market capitalization of $524.63 billion, a PE ratio of 32.05, a P/E/G ratio of 2.00 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings data 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 return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter last year, the business posted $2.16 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. Analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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.