Westbourne Investment Advisors Inc. reduced its position in Visa Inc (NYSE:V) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,050 shares of the credit-card processor’s stock after selling 185 shares during the period. Visa comprises about 1.4% of Westbourne Investment Advisors Inc.’s portfolio, making the stock its 23rd biggest holding. Westbourne Investment Advisors Inc.’s holdings in Visa were worth $1,744,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of V. Oregon Public Employees Retirement Fund lifted its stake in shares of Visa by 11,319.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 86,570,056 shares of the credit-card processor’s stock valued at $656,000 after purchasing an additional 85,811,983 shares during the period. Lunia Capital LP lifted its stake in shares of Visa by 13,370.7% in the 4th quarter. Lunia Capital LP now owns 23,454,446 shares of the credit-card processor’s stock valued at $23,454,000 after purchasing an additional 23,280,332 shares during the period. Thoroughbred Financial Services LLC lifted its stake in shares of Visa by 17,806.8% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,346,951 shares of the credit-card processor’s stock valued at $334,695,000 after purchasing an additional 3,328,260 shares during the period. FMR LLC lifted its stake in shares of Visa by 1.9% in the 1st quarter. FMR LLC now owns 92,255,849 shares of the credit-card processor’s stock valued at $14,409,440,000 after purchasing an additional 1,731,813 shares during the period. Finally, Swedbank lifted its stake in shares of Visa by 26.3% in the 4th quarter. Swedbank now owns 4,890,752 shares of the credit-card processor’s stock valued at $640,395,000 after purchasing an additional 1,019,755 shares during the period. Hedge funds and other institutional investors own 81.16% of the company’s stock.
Shares of Visa stock traded down $1.75 during trading hours on Friday, reaching $177.42. 8,263,354 shares of the company’s stock were exchanged, compared to its average volume of 5,986,302. Visa Inc has a 1 year low of $121.60 and a 1 year high of $184.07. The stock has a market capitalization of $357.63 billion, a P/E ratio of 38.49, a P/E/G ratio of 2.00 and a beta of 0.96. The firm has a fifty day moving average price of $176.79. 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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.04. Visa had a net margin of 53.43% and a return on equity of 41.04%. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the firm earned $1.20 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, research analysts anticipate that Visa Inc will post 5.4 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Thursday, August 15th. Visa’s payout ratio is 21.69%.
In related news, Director Lloyd Carney sold 3,500 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were 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 of the company’s stock, valued at $630,783.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by corporate insiders.
Several brokerages recently commented on V. Bank of America boosted their price target on shares of Visa from $177.00 to $192.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Cantor Fitzgerald reissued a “buy” rating and issued a $181.00 price target on shares of Visa in a report on Sunday, April 28th. Oppenheimer boosted their price target on shares of Visa from $162.00 to $176.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Guggenheim boosted their price target on shares of Visa from $178.00 to $190.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Finally, Deutsche Bank boosted their price target on shares of Visa from $177.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Visa has an average rating of “Buy” and a consensus 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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