Element Wealth LLC Sells 479 Shares of Visa Inc. (NYSE:V)

Element Wealth LLC cut its holdings in Visa Inc. (NYSE:V) by 20.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,815 shares of the credit-card processor’s stock after selling 479 shares during the quarter. Element Wealth LLC’s holdings in Visa were worth $499,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Visa by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after buying an additional 788,908 shares during the last quarter. Capital International Investors raised its stake in Visa by 2.7% during the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after buying an additional 626,618 shares during the last quarter. Capital World Investors raised its stake in Visa by 5.4% during the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after buying an additional 968,008 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Visa by 2.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after buying an additional 345,829 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Visa by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after buying an additional 312,286 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Down 0.5 %

Shares of NYSE:V opened at $281.73 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07. The company has a 50-day moving average price of $278.73 and a 200 day moving average price of $273.17. The company has a market cap of $515.27 billion, a price-to-earnings ratio of 31.48, a PEG ratio of 1.96 and a beta of 0.96.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter last year, the firm earned $2.16 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, equities research analysts predict that Visa Inc. will post 9.92 earnings per share for the current year.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on V shares. Macquarie reiterated an “outperform” rating and set a $300.00 target price on shares of Visa in a research note on Friday, September 27th. William Blair upgraded Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Morgan Stanley restated an “overweight” rating and issued a $322.00 price objective on shares of Visa in a research note on Wednesday, September 25th. Oppenheimer initiated coverage on Visa in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 price objective for the company. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average target price of $314.19.

About Visa

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.