Raleigh Capital Management Inc. Buys 94 Shares of Visa Inc. (NYSE:V)

by · The Markets Daily

Raleigh Capital Management Inc. boosted its position in shares of Visa Inc. (NYSE:V – Free Report) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,523 shares of the credit-card processor’s stock after purchasing an additional 94 shares during the period. Raleigh Capital Management Inc.’s holdings in Visa were worth $694,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. POM Investment Strategies LLC raised its stake in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the period. TruNorth Capital Management LLC lifted its position in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC bought a new position in Visa during the second quarter worth about $35,000. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Visa during the 2nd quarter worth approximately $35,000. Finally, Abich Financial Wealth Management LLC increased its holdings in shares of Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after purchasing an additional 46 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on V. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 price target on shares of Visa in a research report on Thursday, September 12th. Bank of America boosted their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. William Blair raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group decreased their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average price target of $314.19.

Check Out Our Latest Stock Analysis on Visa

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $286.85 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $524.63 billion, a PE ratio of 32.05, a P/E/G ratio of 2.00 and a beta of 0.96. The firm has a fifty day simple moving average of $277.45 and a 200 day simple moving average of $272.97. Visa Inc. has a twelve month low of $228.03 and a twelve month high of $293.07.

Visa (NYSE:V – Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.16 EPS. On average, sell-side analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

About Visa

(Free Report)

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.

Further Reading

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