Gemmer Asset Management LLC Grows Stock Holdings in Visa Inc (NYSE:V)

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Gemmer Asset Management LLC increased its stake in shares of Visa Inc (NYSE:V) by 2,186.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,484 shares of the credit-card processor’s stock after purchasing an additional 72,183 shares during the quarter. Visa comprises about 3.2% of Gemmer Asset Management LLC’s portfolio, making the stock its 10th biggest position. Gemmer Asset Management LLC’s holdings in Visa were worth $12,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in V. Krane Funds Advisors LLC acquired a new position in Visa in the second quarter valued at approximately $26,000. Lowe Wealth Advisors LLC lifted its holdings in Visa by 114.7% in the second quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 86 shares during the period. Personal Wealth Partners acquired a new position in Visa in the second quarter valued at approximately $30,000. Mcmillion Capital Management Inc. acquired a new position in Visa in the second quarter valued at approximately $38,000. Finally, Hexavest Inc. acquired a new stake in Visa in the second quarter worth $40,000. 80.99% of the stock is currently owned by institutional investors and hedge funds.

In other Visa news, Director Lloyd Carney sold 3,500 shares of Visa stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $182.73, for a total value of $639,555.00. Following the completion of the sale, the director now owns 3,452 shares in the company, valued at approximately $630,783.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vasant M. Prabhu sold 25,051 shares of Visa 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 sale, 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. Company insiders own 0.17% of the company’s stock.

Shares of V opened at $177.06 on Friday. The firm has a 50-day moving average of $177.05 and a 200-day moving average of $170.65. Visa Inc has a one year low of $121.60 and a one year high of $187.05. The company has a market cap of $353.87 billion, a PE ratio of 38.41, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.69.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.04. The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Visa had a net margin of 53.43% and a return on equity of 41.04%. Visa’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.20 EPS. Analysts expect that Visa Inc will post 5.41 earnings per share for the current year.

Several research firms have weighed in on V. Wells Fargo & Co increased their target price on shares of Visa from $181.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating and set a $180.00 target price on the stock. in a report on Saturday, June 15th. Deutsche Bank increased their target price on shares of Visa from $177.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Guggenheim raised their price objective on shares of Visa from $178.00 to $190.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Finally, Goldman Sachs Group restated a “buy” rating and set a $202.00 price objective on shares of Visa in a report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $196.57.

Visa 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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