Clearfield Capital Management LP cut its stake in shares of Visa Inc (NYSE:V) by 13.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 147,725 shares of the credit-card processor’s stock after selling 22,615 shares during the quarter. Visa makes up approximately 5.0% of Clearfield Capital Management LP’s holdings, making the stock its 9th biggest position. Clearfield Capital Management LP’s holdings in Visa were worth $19,566,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in V. HC Financial Advisors Inc. purchased a new position in Visa during the 4th quarter worth approximately $2,805,000. Parsons Capital Management Inc. RI grew its position in Visa by 23.9% during the 1st quarter. Parsons Capital Management Inc. RI now owns 30,191 shares of the credit-card processor’s stock worth $3,611,000 after purchasing an additional 5,825 shares in the last quarter. Investment House LLC grew its position in Visa by 8.6% during the 1st quarter. Investment House LLC now owns 28,935 shares of the credit-card processor’s stock worth $3,461,000 after purchasing an additional 2,290 shares in the last quarter. Country Trust Bank grew its position in Visa by 16,312.8% during the 1st quarter. Country Trust Bank now owns 76,976 shares of the credit-card processor’s stock worth $9,208,000 after purchasing an additional 76,507 shares in the last quarter. Finally, Usca Ria LLC grew its position in Visa by 4.4% during the 1st quarter. Usca Ria LLC now owns 45,088 shares of the credit-card processor’s stock worth $5,393,000 after purchasing an additional 1,920 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.
Shares of V opened at $139.78 on Friday. The stock has a market cap of $270.07 billion, a PE ratio of 30.32, a P/E/G ratio of 1.44 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.61 and a quick ratio of 1.69. Visa Inc has a 52 week low of $106.60 and a 52 week high of $151.56.
Visa (NYSE:V) last posted its quarterly earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.01. Visa had a net margin of 49.98% and a return on equity of 38.00%. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.44 billion. Equities analysts predict that Visa Inc will post 5.32 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Investors of record on Friday, November 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Thursday, November 15th. This is a positive change from Visa’s previous quarterly dividend of $0.21. Visa’s dividend payout ratio is 18.22%.
V has been the topic of several research analyst reports. Wells Fargo & Co boosted their price target on shares of Visa from $143.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, July 12th. Oppenheimer boosted their price target on shares of Visa from $143.00 to $154.00 and gave the company an “outperform” rating in a report on Tuesday, July 17th. Wolfe Research initiated coverage on shares of Visa in a report on Tuesday, July 17th. They set an “outperform” rating on the stock. Bank of America boosted their price target on shares of Visa from $146.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, July 17th. Finally, Morgan Stanley boosted their price target on shares of Visa from $142.00 to $165.00 and gave the company a “$140.13” rating in a report on Thursday, July 19th. Two equities research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. Visa has an average rating of “Buy” and a consensus price target of $155.47.
In other Visa news, SVP James H. Hoffmeister sold 6,912 shares of the company’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $140.01, for a total transaction of $967,749.12. Following the sale, the senior vice president now directly owns 6,912 shares of the company’s stock, valued at $967,749.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vasant M. Prabhu sold 25,064 shares of the company’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $140.56, for a total transaction of $3,522,995.84. Following the sale, the chief financial officer now directly owns 58,232 shares in the company, valued at $8,185,089.92. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
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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