Smith Salley Wealth Management Acquires 3,094 Shares of Visa Inc. (NYSE:V)

by · The Markets Daily

Smith Salley Wealth Management lifted its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 2.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 109,274 shares of the credit-card processor’s stock after purchasing an additional 3,094 shares during the quarter. Visa accounts for 2.0% of Smith Salley Wealth Management’s holdings, making the stock its 12th largest position. Smith Salley Wealth Management’s holdings in Visa were worth $30,045,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in V. Bristlecone Advisors LLC increased its position in shares of Visa by 1.8% in the third quarter. Bristlecone Advisors LLC now owns 24,704 shares of the credit-card processor’s stock worth $6,792,000 after purchasing an additional 434 shares during the period. Mattern Capital Management LLC grew its stake in Visa by 3.1% during the third quarter. Mattern Capital Management LLC now owns 24,954 shares of the credit-card processor’s stock worth $6,861,000 after buying an additional 744 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Visa by 4.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,908,755 shares of the credit-card processor’s stock worth $525,656,000 after buying an additional 85,767 shares in the last quarter. Modera Wealth Management LLC increased its holdings in Visa by 0.7% in the 3rd quarter. Modera Wealth Management LLC now owns 134,946 shares of the credit-card processor’s stock valued at $37,103,000 after buying an additional 904 shares during the period. Finally, GHP Investment Advisors Inc. raised its position in shares of Visa by 2.3% in the 3rd quarter. GHP Investment Advisors Inc. now owns 35,325 shares of the credit-card processor’s stock valued at $9,713,000 after buying an additional 778 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

V stock opened at $281.73 on Monday. 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 firm has a market cap of $513.40 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 1.95 and a beta of 0.96. The company’s fifty day simple moving average is $279.02 and its 200 day simple moving average is $273.16. Visa Inc. has a 12-month low of $228.03 and a 12-month high of $293.07.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. BMO Capital Markets increased their price target on shares of Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Citigroup decreased their price target on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Oppenheimer initiated coverage on Visa in a research report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 target price on shares of Visa in a report on Thursday, September 12th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $314.19.

Check Out Our Latest Research Report on Visa

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’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 of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is owned by company insiders.

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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