Stralem & Co. Inc. lowered its stake in shares of Visa Inc (NYSE:V) by 19.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,410 shares of the credit-card processor’s stock after selling 9,545 shares during the quarter. Visa makes up about 3.6% of Stralem & Co. Inc.’s investment portfolio, making the stock its largest holding. Stralem & Co. Inc.’s holdings in Visa were worth $6,666,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC boosted its holdings in Visa by 114.7% in the second quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 86 shares during the period. Essex Investment Management Co. LLC acquired a new position in Visa in the fourth quarter worth $33,000. Hexavest Inc. acquired a new position in shares of Visa in the 2nd quarter valued at about $40,000. Financial Gravity Companies Inc. acquired a new position in shares of Visa in the 4th quarter valued at about $57,000. Finally, Sound Income Strategies LLC boosted its holdings in shares of Visa by 141.6% in the 2nd quarter. Sound Income Strategies LLC now owns 331 shares of the credit-card processor’s stock valued at $57,000 after buying an additional 194 shares during the period. 81.16% of the stock is owned by institutional investors and hedge funds.
In other news, Director Lloyd Carney sold 3,500 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $182.73, for a total value of $639,555.00. Following the completion of the sale, the director now owns 3,452 shares in the company, valued at $630,783.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.17% of the company’s stock.
Shares of NYSE:V traded down $1.75 during trading on Friday, reaching $177.42. The company had a trading volume of 8,263,354 shares, compared to its average volume of 5,565,434. The business’s fifty day moving average is $176.79. The firm has a market cap of $355.30 billion, a price-to-earnings ratio of 38.49, a PEG ratio of 1.99 and a beta of 0.96. Visa Inc has a twelve month low of $121.60 and a twelve month high of $184.07. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.62.
Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.04. The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. Visa had a return on equity of 41.04% and a net margin of 53.43%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.20 earnings per share. On average, research analysts forecast that Visa Inc will post 5.4 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be given a $0.25 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.56%. Visa’s dividend payout ratio (DPR) is 21.69%.
Several research analysts have recently commented on V shares. Nomura lifted their price target on shares of Visa from $178.00 to $204.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. BMO Capital Markets lifted their target price on Visa to $214.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Wells Fargo & Co lifted their target price on Visa from $181.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. Credit Suisse Group boosted their target price on shares of Visa from $200.00 to $203.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, KeyCorp boosted their target price on shares of Visa from $190.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $195.46.
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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