CrestPoint Capital Management LLC reduced its position in Visa Inc. (NYSE:V) by 4.1% during the second quarter, Holdings Channel reports. The institutional investor owned 37,300 shares of the credit-card processor’s stock after selling 1,600 shares during the period. Visa comprises about 1.6% of CrestPoint Capital Management LLC’s holdings, making the stock its 8th largest position. CrestPoint Capital Management LLC’s holdings in Visa were worth $3,498,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Integrated Investment Consultants LLC raised its position in Visa by 0.7% in the first quarter. Integrated Investment Consultants LLC now owns 2,961 shares of the credit-card processor’s stock worth $263,000 after buying an additional 20 shares in the last quarter. Mercer Capital Advisers Inc. increased its stake in Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after buying an additional 25 shares during the last quarter. Smithfield Trust Co. increased its stake in Visa by 0.3% in the first quarter. Smithfield Trust Co. now owns 9,047 shares of the credit-card processor’s stock worth $804,000 after buying an additional 25 shares during the last quarter. Nicolet Bankshares Inc. increased its stake in Visa by 0.3% in the first quarter. Nicolet Bankshares Inc. now owns 9,312 shares of the credit-card processor’s stock worth $828,000 after buying an additional 27 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in Visa by 0.5% in the first quarter. Sequoia Financial Advisors LLC now owns 5,994 shares of the credit-card processor’s stock worth $533,000 after buying an additional 27 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors.

Shares of Visa Inc. (NYSE:V) opened at 96.93 on Monday. The company has a market cap of $223.56 billion, a price-to-earnings ratio of 48.37 and a beta of 0.93. The firm has a 50-day moving average price of $94.45 and a 200 day moving average price of $88.30. Visa Inc. has a 1-year low of $75.17 and a 1-year high of $97.37. Visa also was the recipient of unusually large options trading on Friday. Investors acquired 21,376 call options on the company. This represents an increase of approximately 121% compared to the average volume of 9,674 call options.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, April 20th. The credit-card processor reported $0.86 EPS for the quarter, beating the consensus estimate of $0.79 by $0.07. Visa had a return on equity of 29.14% and a net margin of 28.78%. The business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. Visa’s revenue for the quarter was up 23.5% on a year-over-year basis. On average, analysts predict that Visa Inc. will post $3.37 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “CrestPoint Capital Management LLC Decreases Stake in Visa Inc. (V)” was first posted by Watch List News and is owned by of Watch List News. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://www.watchlistnews.com/crestpoint-capital-management-llc-decreases-stake-in-visa-inc-v/1444934.html.

A number of equities research analysts have recently weighed in on the company. Vetr downgraded Visa from a “buy” rating to a “hold” rating and set a $100.12 target price for the company. in a research report on Monday. Sanford C. Bernstein restated an “outperform” rating and set a $110.00 target price on shares of Visa in a research report on Thursday. BidaskClub upgraded Visa from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Deutsche Bank AG boosted their target price on Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 10th. Finally, Mizuho assumed coverage on Visa in a research report on Tuesday, June 27th. They set a “buy” rating and a $115.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. Visa presently has an average rating of “Buy” and a consensus price target of $98.75.

In related news, Vice Chairman Ellen Richey sold 31,260 shares of the company’s stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $91.94, for a total value of $2,874,044.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Visa Company Profile

Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V).

Institutional Ownership by Quarter for Visa (NYSE:V)

Receive News & Ratings for Visa Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.