Jacobs & Co. CA lowered its stake in shares of Visa Inc (NYSE:V) by 0.7% in the second quarter, Holdings Channel reports. The institutional investor owned 109,078 shares of the credit-card processor’s stock after selling 790 shares during the period. Visa accounts for 3.1% of Jacobs & Co. CA’s holdings, making the stock its 3rd biggest position. Jacobs & Co. CA’s holdings in Visa were worth $18,930,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. Enterprise Financial Services Corp lifted its holdings in shares of Visa by 0.8% during the 2nd quarter. Enterprise Financial Services Corp now owns 7,649 shares of the credit-card processor’s stock valued at $1,328,000 after purchasing an additional 59 shares during the last quarter. Radnor Capital Management LLC lifted its holdings in shares of Visa by 0.8% during the 2nd quarter. Radnor Capital Management LLC now owns 8,060 shares of the credit-card processor’s stock valued at $1,399,000 after purchasing an additional 60 shares during the last quarter. Convergence Investment Partners LLC lifted its holdings in shares of Visa by 1.7% during the 2nd quarter. Convergence Investment Partners LLC now owns 3,908 shares of the credit-card processor’s stock valued at $678,000 after purchasing an additional 66 shares during the last quarter. Hanson & Doremus Investment Management lifted its holdings in shares of Visa by 7.8% during the 2nd quarter. Hanson & Doremus Investment Management now owns 925 shares of the credit-card processor’s stock valued at $161,000 after purchasing an additional 67 shares during the last quarter. Finally, Parisi Gray Wealth Management lifted its holdings in shares of Visa by 1.9% during the 2nd quarter. Parisi Gray Wealth Management now owns 3,859 shares of the credit-card processor’s stock valued at $670,000 after purchasing an additional 71 shares during the last quarter. Institutional investors own 81.63% of the company’s stock.
Several analysts have recently commented on the company. Cantor Fitzgerald reiterated a “buy” rating and set a $181.00 price objective on shares of Visa in a report on Sunday, April 28th. Nomura increased their price objective on Visa from $178.00 to $204.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Robert W. Baird set a $196.00 price objective on Visa and gave the company a “buy” rating in a report on Friday, July 19th. Credit Suisse Group increased their price objective on Visa from $200.00 to $203.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Jefferies Financial Group increased their price objective on Visa from $190.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $195.46.
Shares of NYSE V traded up $1.96 during mid-day trading on Friday, hitting $178.23. The stock had a trading volume of 8,179,400 shares, compared to its average volume of 7,288,542. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.69 and a current ratio of 1.69. The company has a 50 day moving average of $178.23 and a two-hundred day moving average of $162.51. Visa Inc has a twelve month low of $121.60 and a twelve month high of $184.07. The firm has a market cap of $344.23 billion, a PE ratio of 38.66, a PEG ratio of 1.94 and a beta of 0.96.
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, beating the consensus estimate of $1.33 by $0.04. The firm had revenue of $5.84 billion for 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 was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.20 EPS. Equities research analysts predict that Visa Inc will post 5.4 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.56%. The ex-dividend date is Thursday, August 15th. Visa’s dividend payout ratio is currently 21.69%.
In related news, Director Denise M. Morrison purchased 1,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $171.13 per share, with a total value of $171,130.00. Following the transaction, the director now owns 3,223 shares of the company’s stock, valued at $551,551.99. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lloyd Carney sold 3,500 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $182.73, for a total value of $639,555.00. Following the sale, the director now directly owns 3,452 shares in the company, valued at $630,783.96. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.
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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