Pointe Capital Management LLC Acquires 6 Shares of Visa Inc. (V)
Pointe Capital Management LLC boosted its stake in Visa Inc. (NYSE:V) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,528 shares of the credit-card processor’s stock after buying an additional 6 shares during the period. Pointe Capital Management LLC’s holdings in Visa were worth $262,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Boston Advisors LLC increased its position in Visa by 126.3% in the first quarter. Boston Advisors LLC now owns 517,836 shares of the credit-card processor’s stock valued at $39,604,000 after buying an additional 289,055 shares during the period. Carroll Financial Associates Inc. increased its position in Visa by 7.3% in the first quarter. Carroll Financial Associates Inc. now owns 10,907 shares of the credit-card processor’s stock valued at $834,000 after buying an additional 740 shares during the period. Raymond James Trust N.A. increased its position in Visa by 7.1% in the first quarter. Raymond James Trust N.A. now owns 83,435 shares of the credit-card processor’s stock valued at $6,381,000 after buying an additional 5,557 shares during the period. PM CAPITAL Ltd bought a new position in Visa during the first quarter valued at approximately $24,653,000. Finally, Bridges Investment Management Inc. increased its position in Visa by 0.6% in the first quarter. Bridges Investment Management Inc. now owns 74,568 shares of the credit-card processor’s stock valued at $5,007,000 after buying an additional 433 shares during the period. 80.08% of the stock is currently owned by institutional investors.
Shares of Visa Inc. (NYSE:V) traded down 0.58% during midday trading on Friday, reaching $82.88. The company had a trading volume of 8,238,129 shares. The company has a 50 day moving average price of $82.03 and a 200-day moving average price of $79.10. The firm has a market capitalization of $195.59 billion, a P/E ratio of 35.22 and a beta of 0.95. Visa Inc. has a one year low of $66.12 and a one year high of $83.79.
Visa (NYSE:V) last posted 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 net margin of 38.72% and a return on equity of 22.36%. The firm had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.67 billion. On average, analysts anticipate that Visa Inc. will post $2.79 EPS for the current fiscal year.
V has been the subject of several research analyst reports. Deutsche Bank AG reiterated a “buy” rating and issued a $87.00 price objective on shares of Visa in a research report on Tuesday, September 6th. Barclays PLC lifted their price objective on Visa from $88.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, September 12th. Pacific Crest set a $92.00 price objective on Visa and gave the company a “buy” rating in a research report on Wednesday, September 14th. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Tuesday. Finally, Vetr downgraded Visa from a “strong-buy” rating to a “buy” rating and set a $84.21 price objective for the company. in a research report on Monday, July 11th. Four analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $88.69.
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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