Viking Global Investors LP lessened its stake in Visa Inc (NYSE:V) by 87.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 387,368 shares of the credit-card processor’s stock after selling 2,687,425 shares during the quarter. Viking Global Investors LP’s holdings in Visa were worth $67,228,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Krane Funds Advisors LLC acquired a new position in Visa in the second quarter valued at about $26,000. Lowe Wealth Advisors LLC increased its stake 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 purchasing an additional 86 shares during the period. Personal Wealth Partners purchased a new stake in Visa during the second quarter worth about $30,000. Essex Investment Management Co. LLC purchased a new stake in Visa during the fourth quarter worth about $33,000. Finally, Mcmillion Capital Management Inc. purchased a new stake in Visa during the second quarter worth about $38,000. 80.99% of the stock is owned by institutional investors.
V has been the topic of a number of recent research reports. Barclays boosted their price target on shares of Visa from $181.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. ValuEngine lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Citigroup boosted their price target on shares of Visa from $185.00 to $206.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Wedbush reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, July 3rd. 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 research note on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $196.57.
In other Visa news, Director Lloyd Carney sold 3,500 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $182.73, for a total value of $639,555.00. Following the transaction, the director now directly owns 3,452 shares in the company, valued at $630,783.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Denise M. Morrison purchased 1,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was bought at an average price of $171.13 per share, for a total transaction of $171,130.00. Following the completion of the purchase, the director now directly owns 3,223 shares of the company’s stock, valued at $551,551.99. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.
Shares of V stock traded down $1.21 during trading hours on Wednesday, reaching $175.24. 5,796,091 shares of the stock were exchanged, compared to its average volume of 6,006,125. The business’s fifty day moving average is $178.64 and its two-hundred day moving average is $167.84. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.69. Visa Inc has a 12-month low of $121.60 and a 12-month high of $187.05. The firm has a market capitalization of $351.69 billion, a P/E ratio of 38.01, a P/E/G ratio of 1.99 and a beta of 0.97.
Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 EPS for the quarter, beating the Thomson Reuters’ 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 net margin of 53.43% and a return on equity of 41.04%. The firm’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 earnings per share. As a group, equities research analysts predict that Visa Inc will post 5.4 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were paid a $0.25 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 0.57%. Visa’s dividend payout ratio 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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