Riverbridge Partners LLC Invests $22.92 Million in Visa Inc (V) Stock
Riverbridge Partners LLC bought a new position in shares of Visa Inc (NYSE:V) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 217,827 shares of the credit-card processor’s stock, valued at approximately $22,924,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Lowe Brockenbrough & Co. Inc. grew its holdings in Visa by 49.4% during the 1st quarter. Lowe Brockenbrough & Co. Inc. now owns 6,196 shares of the credit-card processor’s stock worth $551,000 after acquiring an additional 2,050 shares in the last quarter. Chemung Canal Trust Co. grew its holdings in Visa by 8.5% during the 1st quarter. Chemung Canal Trust Co. now owns 85,990 shares of the credit-card processor’s stock worth $7,641,000 after acquiring an additional 6,763 shares in the last quarter. Bath Savings Trust Co acquired a new position in Visa during the 2nd quarter worth approximately $287,000. Toth Financial Advisory Corp grew its holdings in Visa by 10.8% during the 2nd quarter. Toth Financial Advisory Corp now owns 30,189 shares of the credit-card processor’s stock worth $2,831,000 after acquiring an additional 2,946 shares in the last quarter. Finally, DnB Asset Management AS grew its holdings in Visa by 225.7% during the 2nd quarter. DnB Asset Management AS now owns 894,898 shares of the credit-card processor’s stock worth $83,924,000 after acquiring an additional 620,100 shares in the last quarter. 81.50% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on V. Wells Fargo & Co upgraded shares of Visa from a “market perform” rating to an “outperform” rating and upped their target price for the company from $107.01 to $120.00 in a report on Tuesday, October 10th. Zacks Investment Research cut shares of Visa from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Cantor Fitzgerald began coverage on shares of Visa in a report on Thursday, September 28th. They issued an “overweight” rating and a $120.00 target price for the company. Vetr cut shares of Visa from a “buy” rating to a “hold” rating and set a $121.05 target price for the company. in a report on Monday. Finally, Buckingham Research upped their target price on shares of Visa from $129.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Four research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $120.94.
Visa (NYSE:V) last issued its quarterly earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.05. The firm had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.63 billion. Visa had a net margin of 36.49% and a return on equity of 31.80%. Visa’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 EPS. analysts forecast that Visa Inc will post 4.07 earnings per share for the current year.
In other Visa news, SVP James H. Hoffmeister sold 2,146 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $112.09, for a total transaction of $240,545.14. Following the completion of the transaction, the senior vice president now owns 687 shares in the company, valued at approximately $77,005.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Tullier Kelly Mahon sold 49,702 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $113.66, for a total transaction of $5,649,129.32. Following the transaction, the executive vice president now owns 76,202 shares of the company’s stock, valued at approximately $8,661,119.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,068 shares of company stock valued at $6,597,262. 0.14% of the stock is owned by company insiders.
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).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.