Pettinga Financial Advisors LLC Makes New $228,000 Investment in Visa Inc. (NYSE:V)

Pettinga Financial Advisors LLC bought a new stake in shares of Visa Inc. (NYSE:V) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 829 shares of the credit-card processor’s stock, valued at approximately $228,000.

Several other hedge funds have also made changes to their positions in 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 worth $28,000 after buying an additional 97 shares in the last quarter. TruNorth Capital Management LLC lifted its stake in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Abich Financial Wealth Management LLC boosted its position in Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after purchasing an additional 46 shares in the last quarter. CarsonAllaria Wealth Management Ltd. purchased a new position in Visa in the second quarter valued at about $35,000. Finally, Bbjs Financial Advisors LLC bought a new position in Visa in the second quarter worth about $35,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

V has been the subject of a number of analyst reports. Morgan Stanley reissued an “overweight” rating and set a $322.00 target price on shares of Visa in a research report on Wednesday, September 25th. Citigroup dropped their target price on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. BMO Capital Markets increased their price target on Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Macquarie restated an “outperform” rating and set a $300.00 price target on shares of Visa in a research note on Friday, September 27th. Finally, Compass Point initiated coverage on shares of Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective on the stock. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $314.19.

Visa Trading Down 0.5 %

Visa stock opened at $281.73 on Friday. The firm has a market cap of $515.27 billion, a PE ratio of 31.48, a P/E/G ratio of 1.96 and a beta of 0.96. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07. The stock’s 50 day simple moving average is $279.02 and its two-hundred day simple moving average is $273.19. 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 (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting 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 for the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the prior year, the firm posted $2.16 earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. Analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’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 transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by insiders.

Visa Company Profile

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.