David R. Rahn & Associates Inc. Takes $641,000 Position in Visa Inc. (V)
David R. Rahn & Associates Inc. acquired a new position in shares of Visa Inc. (NYSE:V) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,833 shares of the credit-card processor’s stock, valued at approximately $641,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Sippican Capital Advisors acquired a new position in Visa in the 1st quarter valued at about $222,000. Baxter Bros Inc. grew its stake in Visa by 2.3% in the 1st quarter. Baxter Bros Inc. now owns 152,782 shares of the credit-card processor’s stock valued at $13,578,000 after buying an additional 3,478 shares during the last quarter. Waldron LP grew its stake in Visa by 61.6% in the 1st quarter. Waldron LP now owns 8,951 shares of the credit-card processor’s stock valued at $791,000 after buying an additional 3,412 shares during the last quarter. Crestwood Advisors Group LLC grew its stake in Visa by 5.8% in the 1st quarter. Crestwood Advisors Group LLC now owns 194,052 shares of the credit-card processor’s stock valued at $17,245,000 after buying an additional 10,669 shares during the last quarter. Finally, Osborne Partners Capital Management LLC grew its stake in Visa by 299.5% in the 1st quarter. Osborne Partners Capital Management LLC now owns 14,041 shares of the credit-card processor’s stock valued at $1,248,000 after buying an additional 10,526 shares during the last quarter. Institutional investors own 81.69% of the company’s stock.
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In other news, EVP Tullier Kelly Mahon sold 29,772 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total value of $3,004,292.52. Following the completion of the sale, the executive vice president now directly owns 17,360 shares in the company, valued at approximately $1,751,797.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary B. Cranston sold 10,400 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total transaction of $1,074,528.00. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
A number of research analysts recently commented on V shares. UBS AG reiterated an “overweight” rating on shares of Visa in a research note on Thursday, August 24th. Deutsche Bank AG upped their price target on shares of Visa from $124.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 10th. Nomura upped their price target on shares of Visa from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, July 21st. KeyCorp reiterated a “buy” rating and issued a $110.00 price target on shares of Visa in a research note on Friday, August 25th. Finally, Credit Suisse Group set a $112.00 price target on shares of Visa and gave the company a “buy” rating in a research note on Saturday, July 22nd. Three analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $108.76.
Shares of Visa Inc. (NYSE V) opened at 106.73 on Friday. The stock’s 50 day moving average is $104.52 and its 200-day moving average is $96.90. The company has a market cap of $244.03 billion, a P/E ratio of 39.69 and a beta of 0.93. Visa Inc. has a one year low of $75.17 and a one year high of $106.96.
Visa (NYSE:V) last announced its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 30.95%. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same period in the previous year, the business posted $0.69 earnings per share. Visa’s revenue for the quarter was up 25.8% on a year-over-year basis. Equities research analysts forecast that Visa Inc. will post $3.43 earnings per share for the current year.
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.
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