Mckinley Capital Management LLC Delaware reduced its stake in Visa Inc (NYSE:V) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 175,939 shares of the credit-card processor’s stock after selling 5,418 shares during the period. Visa makes up about 2.2% of Mckinley Capital Management LLC Delaware’s holdings, making the stock its 8th largest holding. Mckinley Capital Management LLC Delaware’s holdings in Visa were worth $33,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the business. BlackRock Inc. increased its position in Visa by 2.3% during the 2nd quarter. BlackRock Inc. now owns 123,791,138 shares of the credit-card processor’s stock valued at $21,483,952,000 after purchasing an additional 2,773,330 shares during the period. Worldquant Millennium Advisors LLC increased its holdings in shares of Visa by 25.0% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 21,613 shares of the credit-card processor’s stock worth $3,751,000 after purchasing an additional 4,322 shares in the last quarter. Mutual Advisors LLC increased its holdings in Visa by 39.4% in the 2nd quarter. Mutual Advisors LLC now owns 10,864 shares of the credit-card processor’s stock worth $1,885,000 after buying an additional 3,072 shares in the last quarter. Phocas Financial Corp. purchased a new position in shares of Visa during the second quarter valued at approximately $2,034,000. Finally, Reilly Herbert Faulkner III raised its stake in Visa by 3.0% during the 2nd quarter. Reilly Herbert Faulkner III now owns 44,598 shares of the credit-card processor’s stock valued at $7,740,000 after buying an additional 1,306 shares during the last quarter. 81.32% of the stock is owned by institutional investors and hedge funds.
V traded down $0.70 on Friday, reaching $205.82. 2,889,830 shares of the company traded hands, compared to its average volume of 7,089,628. The stock’s 50 day moving average price is $190.82 and its 200-day moving average price is $181.51. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.56 and a quick ratio of 1.56. Visa Inc has a 52-week low of $133.30 and a 52-week high of $210.13. The company has a market cap of $409.42 billion, a price-to-earnings ratio of 38.69, a PEG ratio of 2.16 and a beta of 0.93.
V has been the topic of a number of research analyst reports. Macquarie began coverage on Visa in a report on Tuesday. They issued an “outperform” rating and a $250.00 price target on the stock. Morgan Stanley boosted their price objective on Visa from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday. Wells Fargo & Co increased their target price on shares of Visa from $200.00 to $213.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Nomura reissued a “buy” rating and set a $233.00 price target on shares of Visa in a research note on Monday. Finally, Compass Point initiated coverage on shares of Visa in a research report on Thursday, December 5th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $209.68.
In other news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $189.31, for a total transaction of $1,325,170.00. Following the transaction, the chief executive officer now owns 150,514 shares of the company’s stock, valued at approximately $28,493,805.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP William M. Sheedy sold 21,164 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 227,126 shares in the company, valued at approximately $40,589,687.46. The disclosure for this sale can be found here. Insiders have sold a total of 58,480 shares of company stock worth $10,606,182 in the last 90 days. 0.19% of the stock is owned by insiders.
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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