Smith Group Asset Management LLC Acquires 431 Shares of Visa Inc. (NYSE:V)

Smith Group Asset Management LLC boosted its holdings in Visa Inc. (NYSE:V) by 19.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,595 shares of the credit-card processor’s stock after acquiring an additional 431 shares during the quarter. Smith Group Asset Management LLC’s holdings in Visa were worth $713,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westhampton Capital LLC raised its position in Visa by 3.0% in the 1st quarter. Westhampton Capital LLC now owns 2,065 shares of the credit-card processor’s stock valued at $576,000 after buying an additional 60 shares during the last quarter. Synergy Asset Management LLC grew its stake in shares of Visa by 62.4% in the 1st quarter. Synergy Asset Management LLC now owns 11,168 shares of the credit-card processor’s stock worth $3,117,000 after acquiring an additional 4,290 shares in the last quarter. Applied Capital LLC FL raised its holdings in shares of Visa by 0.8% in the first quarter. Applied Capital LLC FL now owns 9,442 shares of the credit-card processor’s stock valued at $2,635,000 after purchasing an additional 78 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Visa by 1.7% during the first quarter. Capital Advisors Ltd. LLC now owns 3,648 shares of the credit-card processor’s stock valued at $1,018,000 after purchasing an additional 61 shares in the last quarter. Finally, Dash Acquisitions Inc. boosted its holdings in Visa by 2.7% during the first quarter. Dash Acquisitions Inc. now owns 64,431 shares of the credit-card processor’s stock worth $17,570,000 after purchasing an additional 1,665 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s 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 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 corporate insiders.

Visa Stock Down 0.8 %

V stock opened at $281.96 on Wednesday. The stock has a 50-day simple moving average of $279.65 and a two-hundred day simple moving average of $273.26. Visa Inc. has a twelve month low of $230.03 and a twelve month high of $293.07. The firm has a market capitalization of $515.69 billion, a PE ratio of 31.50, a PEG ratio of 1.95 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Analyst Upgrades and Downgrades

V has been the subject of several analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $322.00 price objective on shares of Visa in a research note on Wednesday, September 25th. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Jefferies Financial Group decreased their target price on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.19.

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.