Visa Share Buy Seen as Strong Signal Amid Earnings Beat
Visa Inc., a global payments technology company, has seen its shares acquired by Archford Capital Strategies LLC. According to a recent filing with the Securities & Exchange Commission, Archford Capital raised its stake in Visa's stock by 10.3% during the second quarter.
The fund now owns 51,737 shares of Visa's stock and accounts for approximately 1.8% of Archford Capital Strategies LLC's investment portfolio.
Visa reported $3.32 EPS for the quarter, beating the consensus estimate of $3.23 by $0.09. The company had revenue of $11.63 billion during the quarter, compared to the consensus estimate of $11.40 billion.
The firm's 50-day moving average price is $365.13 and its 200-day moving average price is $334.48. Visa Inc. has a current ratio of 0.99, a quick ratio of 0.99, and a debt-to-equity ratio of 0.60.