Allred Capital Management LLC boosted its stake in Visa Inc (NYSE:V) by 14.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,264 shares of the credit-card processor’s stock after purchasing an additional 524 shares during the period. Allred Capital Management LLC’s holdings in Visa were worth $852,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norway Savings Bank increased its holdings in Visa by 178.9% in the 3rd quarter. Norway Savings Bank now owns 516 shares of the credit-card processor’s stock valued at $103,000 after purchasing an additional 331 shares in the last quarter. First National Bank Sioux Falls increased its holdings in Visa by 18.5% in the 3rd quarter. First National Bank Sioux Falls now owns 4,173 shares of the credit-card processor’s stock valued at $834,000 after purchasing an additional 650 shares in the last quarter. Aries Wealth Management increased its holdings in Visa by 3.4% in the 3rd quarter. Aries Wealth Management now owns 10,454 shares of the credit-card processor’s stock valued at $2,090,000 after purchasing an additional 345 shares in the last quarter. Schneider Downs Wealth Management Advisors LP increased its holdings in Visa by 11.9% in the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 1,689 shares of the credit-card processor’s stock valued at $338,000 after purchasing an additional 180 shares in the last quarter. Finally, Aprio Wealth Management LLC increased its holdings in Visa by 17.8% in the 3rd quarter. Aprio Wealth Management LLC now owns 1,622 shares of the credit-card processor’s stock valued at $324,000 after purchasing an additional 245 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

In other news, insider Rajat Taneja sold 45,036 shares of Visa stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $210.00, for a total transaction of $9,457,560.00. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of Visa stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 130,090 shares in the company, valued at approximately $25,367,550. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 118,122 shares of company stock worth $24,748,541. Corporate insiders own 0.19% of the company’s stock.

Several analysts recently issued reports on the company. Piper Sandler increased their price target on Visa from $200.00 to $206.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Wedbush restated a “buy” rating and set a $220.00 target price on shares of Visa in a research note on Monday, October 5th. Daiwa Capital Markets restated a “neutral” rating and set a $204.00 target price on shares of Visa in a research note on Tuesday, July 21st. JPMorgan Chase & Co. raised their target price on Visa from $186.00 to $229.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. Finally, Oppenheimer began coverage on Visa in a research note on Tuesday, June 23rd. They set an “outperform” rating and a $202.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $214.72.

Shares of NYSE V opened at $200.26 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. The firm’s 50-day moving average price is $203.88 and its two-hundred day moving average price is $191.62. Visa Inc has a 52-week low of $133.93 and a 52-week high of $217.35. The stock 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 (NYSE:V) last released its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.85 billion. Visa had a return on equity of 40.65% and a net margin of 51.37%. The business’s revenue for the quarter was down 18.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 earnings per share. As a group, equities research analysts expect 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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