Fortitude Family Office LLC Increases Stake in Visa Inc. (NYSE:V)

Fortitude Family Office LLC boosted its stake in Visa Inc. (NYSE:V) by 233.8% in the third quarter, Holdings Channel.com reports. The firm owned 1,529 shares of the credit-card processor’s stock after acquiring an additional 1,071 shares during the quarter. Fortitude Family Office LLC’s holdings in Visa were worth $420,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Visa by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after purchasing an additional 788,908 shares in the last quarter. Capital International Investors raised its holdings in Visa by 2.7% in the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after buying an additional 626,618 shares during the period. Capital World Investors grew its stake in Visa by 5.4% during the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after buying an additional 968,008 shares during the period. Ameriprise Financial Inc. increased its position in shares of Visa by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after acquiring an additional 345,829 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Visa by 2.2% in the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock worth $3,783,857,000 after acquiring an additional 312,286 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated 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 of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on V shares. Robert W. Baird upped their price target on shares of Visa from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Oppenheimer initiated coverage on Visa in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 target price for the company. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 target price on shares of Visa in a report on Thursday, September 12th. TD Cowen decreased their price target on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $314.19.

Visa Stock Performance

V stock opened at $281.96 on Wednesday. The firm has a market cap of $515.69 billion, a P/E ratio of 31.50, a P/E/G ratio of 1.95 and a beta of 0.96. The stock’s 50 day simple moving average is $279.65 and its 200 day simple moving average is $273.26. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 12-month low of $230.03 and a 12-month high of $293.07.

Visa Profile

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.