Blodgett Wealth Advisors LLC Sells 100 Shares of Visa Inc. (NYSE:V)

Blodgett Wealth Advisors LLC lowered its position in Visa Inc. (NYSE:V) by 3.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,165 shares of the credit-card processor’s stock after selling 100 shares during the period. Visa accounts for 0.7% of Blodgett Wealth Advisors LLC’s portfolio, making the stock its 21st largest holding. Blodgett Wealth Advisors LLC’s holdings in Visa were worth $870,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. POM Investment Strategies LLC increased its holdings in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares in the last quarter. TruNorth Capital Management LLC increased its holdings 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 purchasing an additional 89 shares in the last quarter. Bbjs Financial Advisors LLC acquired a new stake in shares of Visa in the second quarter valued at approximately $35,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Visa in the second quarter valued at approximately $35,000. Finally, Abich Financial Wealth Management LLC increased its holdings in shares of Visa by 52.9% in the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after purchasing an additional 46 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other 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 transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

V has been the subject of a number of analyst reports. Compass Point initiated coverage on shares of Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price for the company. TD Cowen lowered their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Citigroup lowered their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, BMO Capital Markets lifted their target price on shares of Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $314.19.

Visa Stock Down 0.7 %

Visa stock opened at $284.88 on Wednesday. The firm has a market capitalization of $521.03 billion, a PE ratio of 31.83, a P/E/G ratio of 2.00 and a beta of 0.96. The company’s 50-day moving average is $277.95 and its 200-day moving average is $273.02. Visa Inc. has a fifty-two week low of $228.03 and a fifty-two week 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 released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.16 EPS. Sell-side analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

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.