Shelter Mutual Insurance Co cut its holdings in Visa Inc (NYSE:V) by 8.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 111,320 shares of the credit-card processor’s stock after selling 10,720 shares during the quarter. Visa comprises 5.5% of Shelter Mutual Insurance Co’s holdings, making the stock its 2nd largest position. Shelter Mutual Insurance Co’s holdings in Visa were worth $19,319,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Lowe Wealth Advisors LLC grew its holdings in Visa by 114.7% during the second quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 86 shares during the period. Personal Wealth Partners acquired a new stake in Visa during the second quarter worth about $30,000. Mcmillion Capital Management Inc. acquired a new stake in Visa during the second quarter worth about $38,000. Hexavest Inc. acquired a new stake in Visa during the second quarter worth about $40,000. Finally, Essex Investment Management Co. LLC acquired a new stake in Visa during the fourth quarter worth about $33,000. Institutional investors own 81.63% of the company’s stock.
V has been the topic of several analyst reports. Zacks Investment Research lowered Visa from a “buy” rating to a “hold” rating and set a $180.00 target price on the stock. in a report on Saturday, June 15th. Piper Jaffray Companies set a $207.00 target price on Visa and gave the stock a “buy” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $181.00 target price on shares of Visa in a report on Sunday, April 28th. Wedbush reissued an “outperform” rating on shares of Visa in a report on Wednesday, July 3rd. Finally, Credit Suisse Group raised 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. Two equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $195.46.
In other news, Director Lloyd Carney sold 3,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 3,452 shares in the company, valued at $630,783.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Denise M. Morrison bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average price of $171.13 per share, for a total transaction 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 disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.
V traded up $1.96 during trading on Friday, hitting $178.23. The company’s stock had a trading volume of 8,179,400 shares, compared to its average volume of 7,288,542. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.57. Visa Inc has a twelve month low of $121.60 and a twelve month high of $184.07. The business’s fifty day simple moving average is $178.23 and its 200 day simple moving average is $162.51. The firm has a market capitalization of $344.23 billion, a price-to-earnings ratio of 38.66, a P/E/G ratio of 1.94 and a beta of 0.96.
Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $1.37 EPS for the quarter, beating the consensus estimate of $1.33 by $0.04. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.70 billion. Visa had a return on equity of 41.04% and a net margin of 53.43%. Visa’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company earned $1.20 earnings per share. As a group, equities research analysts forecast that Visa Inc will post 5.4 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders 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 annualized dividend and a dividend yield of 0.56%. Visa’s dividend payout ratio (DPR) is presently 21.69%.
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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