Berman Capital Advisors LLC lifted its stake in Visa Inc (NYSE:V) by 14.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,936 shares of the credit-card processor’s stock after buying an additional 502 shares during the quarter. Berman Capital Advisors LLC’s holdings in Visa were worth $592,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Fundsmith Equity Fund L.P. bought a new position in Visa during the second quarter valued at $757,597,000. Vontobel Asset Management Inc. bought a new position in shares of Visa in the second quarter worth about $471,495,000. FMR LLC grew its holdings in shares of Visa by 2.9% in the second quarter. FMR LLC now owns 85,466,413 shares of the credit-card processor’s stock worth $11,320,026,000 after purchasing an additional 2,398,540 shares during the last quarter. Chevy Chase Trust Holdings Inc. bought a new position in shares of Visa in the second quarter worth about $268,605,000. Finally, OppenheimerFunds Inc. grew its holdings in shares of Visa by 11,300.1% in the second quarter. OppenheimerFunds Inc. now owns 1,842,250 shares of the credit-card processor’s stock worth $244,007,000 after purchasing an additional 1,826,090 shares during the last quarter. 80.10% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP William M. Sheedy sold 99,636 shares of the stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $139.28, for a total value of $13,877,302.08. Following the transaction, the executive vice president now owns 296,925 shares in the company, valued at approximately $41,355,714. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP William M. Sheedy sold 3,643 shares of the stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $133.07, for a total transaction of $484,774.01. Following the completion of the transaction, the executive vice president now owns 241,983 shares in the company, valued at approximately $32,200,677.81. The disclosure for this sale can be found here. Insiders sold a total of 119,395 shares of company stock valued at $16,697,489 over the last ninety days. 0.17% of the stock is currently owned by insiders.
V stock opened at $138.06 on Friday. The stock has a market cap of $279.18 billion, a price-to-earnings ratio of 29.95, a PEG ratio of 1.50 and a beta of 1.06. Visa Inc has a one year low of $111.02 and a one year high of $151.56. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.58.
Visa (NYSE:V) last released its quarterly earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.01. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.44 billion. Visa had a net margin of 49.98% and a return on equity of 38.00%. Analysts predict that Visa Inc will post 5.33 earnings per share for the current year.
A number of analysts recently weighed in on V shares. Bank of America reaffirmed a “buy” rating and issued a $163.00 price objective on shares of Visa in a research note on Monday, September 17th. Goldman Sachs Group lowered shares of Visa from a “conviction-buy” rating to a “buy” rating and set a $160.00 price objective for the company. in a research note on Monday, September 17th. Zacks Investment Research raised shares of Visa from a “hold” rating to a “buy” rating and set a $168.00 price objective for the company in a research note on Tuesday, September 25th. BMO Capital Markets started coverage on shares of Visa in a research note on Wednesday, September 26th. They issued an “outperform” rating and a $187.00 price objective for the company. Finally, Wells Fargo & Co upped their price objective on shares of Visa from $161.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, October 1st. Two analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $159.14.
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.
Recommended Story: What is the Dividend Aristocrat Index?
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).