Leavell Investment Management Inc. Acquires 273 Shares of Visa Inc. $V

Leavell Investment Management Inc. raised its holdings in Visa Inc. (NYSE:V) by 0.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,116 shares of the credit-card processor’s stock after buying an additional 273 shares during the period. Visa comprises approximately 0.8% of Leavell Investment Management Inc.’s investment portfolio, making the stock its 26th biggest holding. Leavell Investment Management Inc.’s holdings in Visa were worth $17,084,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Keystone Global Partners LLC bought a new stake in Visa in the first quarter valued at approximately $26,000. Family Legacy Financial Solutions LLC bought a new stake in Visa in the second quarter valued at approximately $28,000. von Borstel & Associates Inc. bought a new position in shares of Visa during the first quarter worth approximately $27,000. Harbor Asset Planning Inc. bought a new position in shares of Visa during the second quarter worth approximately $29,000. Finally, Cranbrook Wealth Management LLC increased its stake in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares during the period. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on V shares. Citigroup upgraded Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Oppenheimer increased their target price on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Raymond James Financial reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Finally, UBS Group reiterated a “buy” rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $392.75.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Visa Trading Up 0.1%

Shares of NYSE:V opened at $347.71 on Tuesday. The company has a market capitalization of $637.28 billion, a P/E ratio of 33.96, a P/E/G ratio of 2.05 and a beta of 0.90. Visa Inc. has a 1 year low of $281.35 and a 1 year high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The business’s 50 day simple moving average is $344.89 and its 200 day simple moving average is $348.09.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company’s revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.42 EPS. On average, research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal 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.