Forsta AP Fonden decreased its position in Visa Inc (NYSE:V) by 9.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 256,241 shares of the credit-card processor’s stock after selling 26,700 shares during the period. Visa comprises approximately 1.3% of Forsta AP Fonden’s portfolio, making the stock its 21st largest position. Forsta AP Fonden’s holdings in Visa were worth $33,939,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in V. Bedel Financial Consulting Inc. boosted its stake in shares of Visa by 24.2% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 1,825 shares of the credit-card processor’s stock worth $242,000 after buying an additional 356 shares during the last quarter. Townsend & Associates Inc boosted its stake in shares of Visa by 6.1% during the 2nd quarter. Townsend & Associates Inc now owns 6,244 shares of the credit-card processor’s stock worth $827,000 after buying an additional 361 shares during the last quarter. LLBH Private Wealth Management LLC boosted its stake in shares of Visa by 14.7% during the 2nd quarter. LLBH Private Wealth Management LLC now owns 2,821 shares of the credit-card processor’s stock worth $374,000 after buying an additional 362 shares during the last quarter. Signature Estate & Investment Advisors LLC boosted its stake in shares of Visa by 36.8% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 1,357 shares of the credit-card processor’s stock worth $180,000 after buying an additional 365 shares during the last quarter. Finally, Carroll Financial Associates Inc. boosted its stake in shares of Visa by 7.2% during the 2nd quarter. Carroll Financial Associates Inc. now owns 5,487 shares of the credit-card processor’s stock worth $726,000 after buying an additional 368 shares during the last quarter. 80.38% of the stock is owned by institutional investors.
A number of equities analysts have recently commented on V shares. Morgan Stanley upgraded shares of Visa to an “overweight” rating in a research note on Monday, July 23rd. Zacks Investment Research upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $168.00 price objective for the company in a research note on Tuesday, September 25th. Goldman Sachs Group downgraded shares of Visa from a “conviction-buy” rating to a “buy” rating and set a $160.00 price objective for the company. in a research note on Monday, September 17th. BMO Capital Markets increased their price objective on shares of Visa from $187.00 to $196.00 and gave the stock an “outperform” rating in a research note on Thursday, October 25th. Finally, Bank of America restated a “buy” rating and set a $163.00 price objective on shares of Visa in a research note on Monday, September 17th. Two equities research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $155.47.
Shares of V stock opened at $143.93 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.69 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $294.52 billion, a PE ratio of 31.22, a PEG ratio of 1.57 and a beta of 1.11. Visa Inc has a 52-week low of $106.60 and a 52-week high of $151.56.
Visa (NYSE:V) last issued its earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.01. The company had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.44 billion. Visa had a net margin of 49.98% and a return on equity of 38.00%. As a group, equities analysts forecast that Visa Inc will post 5.32 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Friday, November 16th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.69%. This is a boost from Visa’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, November 15th. Visa’s dividend payout ratio is presently 18.22%.
In other Visa news, EVP William M. Sheedy sold 99,636 shares of the stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $139.28, for a total value of $13,877,302.08. Following the transaction, the executive vice president now directly owns 296,925 shares of the company’s stock, valued at approximately $41,355,714. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by corporate insiders.
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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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