Gemmer Asset Management LLC Has $1.11 Million Position in Visa Inc. (NYSE:V)

Gemmer Asset Management LLC decreased its holdings in shares of Visa Inc. (NYSE:V) by 2.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,049 shares of the credit-card processor’s stock after selling 105 shares during the period. Gemmer Asset Management LLC’s holdings in Visa were worth $1,113,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. POM Investment Strategies LLC lifted its stake in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares in the last quarter. TruNorth Capital Management LLC lifted its position in shares of Visa by 211.9% during 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 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.

Visa Stock Performance

Shares of V opened at $284.19 on Tuesday. Visa Inc. has a 12-month low of $230.03 and a 12-month high of $293.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market cap of $519.77 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 1.95 and a beta of 0.96. The stock has a 50-day moving average price of $279.37 and a 200-day moving average price of $273.22.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

V has been the subject of several recent analyst reports. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a report on Tuesday, September 3rd. Morgan Stanley restated an “overweight” rating and issued a $322.00 price objective on shares of Visa in a research note on Wednesday, September 25th. William Blair raised shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. BMO Capital Markets raised their price objective on shares of Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $314.19.

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.