FormulaFolio Investments LLC Buys 1,759 Shares of Visa Inc (NYSE:V)

FormulaFolio Investments LLC grew its stake in shares of Visa Inc (NYSE:V) by 16.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,662 shares of the credit-card processor’s stock after buying an additional 1,759 shares during the period. FormulaFolio Investments LLC’s holdings in Visa were worth $2,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in V. Advisor Group Holdings Inc. bought a new stake in shares of Visa during the first quarter valued at approximately $102,656,000. Nordea Investment Management AB increased its position in Visa by 136.6% in the second quarter. Nordea Investment Management AB now owns 7,031,720 shares of the credit-card processor’s stock worth $1,344,816,000 after purchasing an additional 4,059,677 shares during the last quarter. Lone Pine Capital LLC bought a new stake in Visa in the first quarter worth $536,526,000. BlackRock Inc. increased its position in Visa by 2.3% in the second quarter. BlackRock Inc. now owns 126,278,384 shares of the credit-card processor’s stock worth $24,393,195,000 after purchasing an additional 2,819,598 shares during the last quarter. Finally, Capital International Investors increased its position in Visa by 6.1% in the first quarter. Capital International Investors now owns 21,881,462 shares of the credit-card processor’s stock worth $3,525,557,000 after purchasing an additional 1,250,002 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

In related news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $195.00, for a total value of $1,365,000.00. Following the completion of the sale, the chief executive officer now directly owns 130,090 shares of the company’s stock, valued at $25,367,550. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Rajat Taneja sold 45,036 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $210.00, for a total transaction of $9,457,560.00. Insiders have sold 118,122 shares of company stock valued at $24,748,541 over the last three months. Insiders own 0.19% of the company’s stock.

Several equities research analysts recently weighed in on the stock. Wedbush restated a “buy” rating and issued a $220.00 price target on shares of Visa in a research report on Monday, October 5th. Oppenheimer assumed coverage on shares of Visa in a research report on Tuesday, June 23rd. They issued an “outperform” rating and a $202.00 price target on the stock. Morgan Stanley boosted their price target on shares of Visa from $196.00 to $203.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Royal Bank of Canada restated a “buy” rating and issued a $243.00 price target on shares of Visa in a research report on Sunday, October 11th. Finally, Goldman Sachs Group assumed coverage on shares of Visa in a research note on Tuesday, July 14th. They set a “buy” rating and a $223.00 price objective for the company. Six analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Visa presently has a consensus rating of “Buy” and an average price target of $214.72.

Shares of V opened at $200.26 on Friday. The firm has a market capitalization of $388.98 billion, a P/E ratio of 38.14, a P/E/G ratio of 3.05 and a beta of 0.90. Visa Inc has a 12-month low of $133.93 and a 12-month high of $217.35. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.59. The firm has a fifty day moving average price of $203.88 and a 200-day moving average price of $191.62.

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

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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