Today: The 858 Shares of Visa Inc. (V) are sold by Welch Group LLC

The 858 Shares of Visa Inc. (V) are sold by Welch Group LLC

Welch Group LLC decreased its stake in Visa Inc. (NYSE:V) by 22.4% during the second quarter, Holdings Channel reports. The firm owned 2,964 shares of the credit-card processor’s stock after selling 858 shares during the period. Welch Group LLC’s holdings in Visa were worth $220,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in V. Iowa State Bank purchased a new stake in Visa during the second quarter valued at $111,000. West Oak Capital LLC boosted its stake in Visa by 245.5% in the second quarter. West Oak Capital LLC now owns 1,534 shares of the credit-card processor’s stock valued at $114,000 after buying an additional 1,090 shares during the period. WealthTrust Arizona LLC boosted its stake in Visa by 0.9% in the second quarter. WealthTrust Arizona LLC now owns 2,393 shares of the credit-card processor’s stock valued at $177,000 after buying an additional 21 shares during the period. Invictus RG boosted its stake in Visa by 144.2% in the first quarter. Invictus RG now owns 2,454 shares of the credit-card processor’s stock valued at $188,000 after buying an additional 1,449 shares during the period. Finally, Arcadia Investment Management Corp MI boosted its stake in Visa by 67.3% in the second quarter. Arcadia Investment Management Corp MI now owns 2,700 shares of the credit-card processor’s stock valued at $200,000 after buying an additional 1,086 shares during the period. Institutional investors own 80.08% of the company’s stock.

Visa Inc. (NYSE:V) traded down 0.46% on Thursday, hitting $81.87. The stock had a trading volume of 6,798,217 shares. The firm has a 50-day moving average of $82.18 and a 200 day moving average of $79.29. Visa Inc. has a 52 week low of $66.12 and a 52 week high of $83.79. The company has a market capitalization of $193.21 billion, a price-to-earnings ratio of 34.79 and a beta of 0.95.

Visa (NYSE:V) last released its earnings results on Thursday, July 21st. The credit-card processor reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. Visa had a return on equity of 22.36% and a net margin of 38.72%. The business had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.67 billion. On average, analysts predict that Visa Inc. will post $2.79 earnings per share for the current year.

V has been the topic of several research reports. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Friday, June 24th. Sanford C. Bernstein reiterated a “buy” rating on shares of Visa in a report on Wednesday, June 15th. Vetr cut Visa from a “strong-buy” rating to a “buy” rating and set a $85.82 target price on the stock. in a report on Wednesday, June 29th. Jefferies Group reiterated a “buy” rating on shares of Visa in a report on Tuesday, July 5th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $86.00 target price on shares of Visa in a report on Monday, July 18th. Four research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $88.81.

About Visa

Visa Inc is a payments technology company. The Company is engaged in operating a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions across the world. The Company provides its services to consumers, businesses, financial institutions and governments in more than 200 countries and territories for electronic payments.

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