NuWave Investment Management LLC Purchases 4,613 Shares of Visa Inc (NYSE:V)

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NuWave Investment Management LLC grew its position in shares of Visa Inc (NYSE:V) by 342.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,960 shares of the credit-card processor’s stock after acquiring an additional 4,613 shares during the quarter. Visa comprises approximately 1.0% of NuWave Investment Management LLC’s holdings, making the stock its 17th largest holding. NuWave Investment Management LLC’s holdings in Visa were worth $1,027,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of V. Bowling Portfolio Management LLC lifted its position in Visa by 5.5% in the third quarter. Bowling Portfolio Management LLC now owns 8,091 shares of the credit-card processor’s stock worth $1,392,000 after buying an additional 422 shares during the last quarter. Dfpg Investments Inc. lifted its position in Visa by 40.2% in the third quarter. Dfpg Investments Inc. now owns 4,593 shares of the credit-card processor’s stock worth $792,000 after buying an additional 1,318 shares during the last quarter. Wambolt & Associates LLC lifted its position in Visa by 2.9% in the third quarter. Wambolt & Associates LLC now owns 3,715 shares of the credit-card processor’s stock worth $639,000 after buying an additional 103 shares during the last quarter. Surevest Inc. lifted its position in Visa by 20.9% in the third quarter. Surevest Inc. now owns 12,102 shares of the credit-card processor’s stock worth $2,082,000 after buying an additional 2,094 shares during the last quarter. Finally, Biegel & Waller LLC lifted its position in Visa by 11.3% in the third quarter. Biegel & Waller LLC now owns 1,865 shares of the credit-card processor’s stock worth $321,000 after buying an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 81.02% of the company’s stock.

In other news, Director Denise M. Morrison purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $171.13 per share, for a total transaction of $171,130.00. Following the completion of the purchase, the director now owns 3,223 shares in the company, valued at approximately $551,551.99. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, 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 transaction, the director now owns 3,452 shares in the company, valued at approximately $630,783.96. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Shares of NYSE:V traded up $1.36 on Tuesday, hitting $178.73. 2,974,009 shares of the company’s stock were exchanged, compared to its average volume of 8,335,472. The stock has a market capitalization of $351.27 billion, a price-to-earnings ratio of 38.77, a price-to-earnings-growth ratio of 1.82 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 Inc has a 12 month low of $121.60 and a 12 month high of $187.05. The business’s 50 day simple moving average is $177.05 and its two-hundred day simple moving average is $171.00.

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

A number of analysts recently issued reports on the company. ValuEngine downgraded Visa from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. KeyCorp raised their price target on Visa from $190.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Citigroup raised their price target on Visa from $185.00 to $206.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Goldman Sachs Group restated a “buy” rating and issued a $202.00 price target on shares of Visa in a research report on Wednesday, July 24th. Finally, Deutsche Bank raised their price target on Visa from $177.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Visa presently has an average rating of “Buy” and an average target price of $196.57.

About Visa

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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