McIlrath & Eck LLC Increases Holdings in Visa Inc (NYSE:V)

McIlrath & Eck LLC increased its holdings in shares of Visa Inc (NYSE:V) by 2.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,780 shares of the credit-card processor’s stock after purchasing an additional 69 shares during the period. Visa accounts for about 0.3% of McIlrath & Eck LLC’s holdings, making the stock its 22nd biggest holding. McIlrath & Eck LLC’s holdings in Visa were worth $478,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. Krane Funds Advisors LLC purchased a new position in Visa in the 2nd quarter valued at about $26,000. Lowe Wealth Advisors LLC raised its stake in shares of Visa by 114.7% in the 2nd quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 86 shares in the last quarter. Personal Wealth Partners acquired a new stake in shares of Visa in the 2nd quarter valued at about $30,000. Mcmillion Capital Management Inc. acquired a new stake in shares of Visa in the 2nd quarter valued at about $38,000. Finally, Hexavest Inc. acquired a new stake in shares of Visa in the 2nd quarter valued at about $40,000. 80.98% of the stock is owned by hedge funds and other institutional investors.

In other Visa news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $177.79, for a total value of $1,244,530.00. Following the completion of the transaction, the chief executive officer now owns 55,446 shares in the company, valued at approximately $9,857,744.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Vasant M. Prabhu sold 25,051 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.14, for a total transaction of $4,537,738.14. Following the completion of the transaction, the insider now owns 62,223 shares of the company’s stock, valued at approximately $11,271,074.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,215 shares of company stock valued at $9,564,487. 0.17% of the stock is owned by insiders.

V traded up $0.54 on Friday, hitting $178.97. 3,777,681 shares of the company’s stock were exchanged, compared to its average volume of 7,614,820. The firm has a market cap of $349.90 billion, a PE ratio of 32.90, a P/E/G ratio of 1.83 and a beta of 0.94. Visa Inc has a twelve month low of $121.60 and a twelve month high of $187.05. The stock has a fifty day moving average of $176.22 and a two-hundred day moving average of $173.43. The company has a current ratio of 1.56, a quick ratio of 1.69 and a debt-to-equity ratio of 0.57.

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Visa (NYSE:V) last released its quarterly earnings data on Thursday, October 24th. The credit-card processor reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.04. Visa had a net margin of 52.57% and a return on equity of 42.57%. The firm had revenue of $6.14 billion for the quarter, compared to analyst estimates of $6.08 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. Visa’s quarterly revenue was up 12.9% on a year-over-year basis. On average, analysts predict that Visa Inc will post 6.21 EPS for the current year.

The company also recently announced a dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. Visa’s dividend payout ratio (DPR) is 18.38%.

A number of brokerages have recently issued reports on V. KeyCorp upped their target price on shares of Visa from $190.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Wedbush set a $187.00 target price on shares of Visa and gave the company a “buy” rating in a research note on Tuesday, September 24th. SunTrust Banks upped their target price on shares of Visa to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Barclays upped their target price on shares of Visa from $181.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, Raymond James upped their target price on shares of Visa from $193.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Visa presently has a consensus rating of “Buy” and an average price target of $199.04.

Visa Company Profile

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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