Twin Peaks Wealth Advisors LLC Sells 73 Shares of Visa Inc. (NYSE:V)

Twin Peaks Wealth Advisors LLC cut its holdings in Visa Inc. (NYSE:V) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,447 shares of the credit-card processor’s stock after selling 73 shares during the quarter. Twin Peaks Wealth Advisors LLC’s holdings in Visa were worth $398,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of V. Hilltop National Bank bought a new position in shares of Visa during the first quarter worth $1,212,000. Absolute Capital Management LLC bought a new position in shares of Visa during the first quarter worth $404,000. Davidson Capital Management Inc. boosted its position in shares of Visa by 0.5% during the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after purchasing an additional 44 shares in the last quarter. Empirical Finance LLC boosted its position in shares of Visa by 4.4% during the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after purchasing an additional 1,914 shares in the last quarter. Finally, Arjuna Capital raised its holdings in shares of Visa by 0.8% during the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after acquiring an additional 96 shares during the period. 82.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on V shares. Morgan Stanley raised their price objective on shares of Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a report on Wednesday. BMO Capital Markets raised their price objective on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday. Susquehanna raised their price objective on shares of Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a report on Wednesday. Macquarie raised their price objective on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $320.07.

Visa Stock Performance

NYSE V opened at $290.16 on Thursday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $530.68 billion, a P/E ratio of 32.42, a P/E/G ratio of 1.95 and a beta of 0.96. Visa Inc. has a 12-month low of $232.99 and a 12-month high of $295.78. The firm has a 50-day moving average price of $280.09 and a two-hundred day moving average price of $273.38.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.33 EPS. Analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

About Visa

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.