Montag & Caldwell LLC lessened its position in Visa Inc (NYSE:V) by 2.4% in the 2nd quarter, Holdings Channel reports. The fund owned 514,414 shares of the credit-card processor’s stock after selling 12,477 shares during the period. Visa accounts for approximately 4.6% of Montag & Caldwell LLC’s holdings, making the stock its 5th biggest position. Montag & Caldwell LLC’s holdings in Visa were worth $89,276,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Sigma Planning Corp increased its holdings in shares of Visa by 3.2% in the 2nd quarter. Sigma Planning Corp now owns 45,564 shares of the credit-card processor’s stock valued at $7,908,000 after purchasing an additional 1,419 shares in the last quarter. Twin Capital Management Inc. increased its holdings in shares of Visa by 16.2% in the 2nd quarter. Twin Capital Management Inc. now owns 56,560 shares of the credit-card processor’s stock valued at $9,816,000 after purchasing an additional 7,880 shares in the last quarter. Watch Point Trust Co purchased a new position in shares of Visa in the 2nd quarter valued at about $284,000. Stephens Inc. AR increased its holdings in shares of Visa by 2.2% in the 2nd quarter. Stephens Inc. AR now owns 140,058 shares of the credit-card processor’s stock valued at $24,307,000 after purchasing an additional 2,961 shares in the last quarter. Finally, Hartford Financial Management Inc. increased its holdings in shares of Visa by 3.6% in the 2nd quarter. Hartford Financial Management Inc. now owns 12,050 shares of the credit-card processor’s stock valued at $2,091,000 after purchasing an additional 423 shares in the last quarter. Institutional investors own 81.63% of the company’s stock.
A number of brokerages have recently issued reports on V. Guggenheim increased their price target on shares of Visa from $178.00 to $190.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. Jefferies Financial Group increased their price target on shares of Visa from $190.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Zacks Investment Research downgraded shares of Visa from a “buy” rating to a “hold” rating and set a $180.00 price target for the company. in a report on Saturday, June 15th. Cantor Fitzgerald reiterated a “buy” rating and issued a $181.00 price target on shares of Visa in a report on Sunday, April 28th. Finally, Raymond James increased their price target on shares of Visa from $177.00 to $193.00 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 given a buy rating to the company’s stock. Visa presently has an average rating of “Buy” and an average price target of $195.46.
In other news, Director Denise M. Morrison purchased 1,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $171.13 per share, for a total transaction of $171,130.00. Following the completion of the acquisition, the director now directly owns 3,223 shares in the company, valued at approximately $551,551.99. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lloyd Carney sold 3,500 shares of Visa stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $182.73, for a total transaction of $639,555.00. Following the sale, the director now owns 3,452 shares of the company’s stock, valued at $630,783.96. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.
NYSE:V traded up $1.96 during mid-day trading on Friday, hitting $178.23. 8,179,400 shares of the company’s stock traded hands, 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 firm’s 50 day simple moving average is $178.23 and its 200 day simple moving average is $162.51. Visa Inc has a 1 year low of $121.60 and a 1 year high of $184.07. The company has a market cap of $344.23 billion, a PE ratio of 38.66, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96.
Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period last year, the firm posted $1.20 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, research analysts expect that Visa Inc will post 5.4 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 0.56%. Visa’s dividend payout ratio (DPR) is currently 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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