Everett Harris & Co. CA boosted its stake in shares of Visa Inc (NYSE:V) by 54.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,961 shares of the credit-card processor’s stock after buying an additional 30,943 shares during the period. Everett Harris & Co. CA’s holdings in Visa were worth $16,991,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in V. BEAM Asset Management LLC increased its holdings in shares of Visa by 2.0% during the second quarter. BEAM Asset Management LLC now owns 2,654 shares of the credit-card processor’s stock valued at $525,000 after acquiring an additional 52 shares in the last quarter. Perennial Investment Advisors LLC lifted its position in Visa by 2.6% in the 2nd quarter. Perennial Investment Advisors LLC now owns 2,023 shares of the credit-card processor’s stock valued at $391,000 after acquiring an additional 52 shares in the last quarter. Trellis Advisors LLC boosted its stake in Visa by 2.2% during the 2nd quarter. Trellis Advisors LLC now owns 2,419 shares of the credit-card processor’s stock valued at $467,000 after purchasing an additional 52 shares during the last quarter. Ironwood Investment Counsel LLC raised its stake in shares of Visa by 1.0% in the first quarter. Ironwood Investment Counsel LLC now owns 5,509 shares of the credit-card processor’s stock worth $887,000 after purchasing an additional 57 shares during the last quarter. Finally, Laurel Wealth Advisors LLC lifted its holdings in shares of Visa by 3.7% during the first quarter. Laurel Wealth Advisors LLC now owns 1,588 shares of the credit-card processor’s stock valued at $256,000 after purchasing an additional 57 shares in the last quarter. Institutional investors and hedge funds own 81.41% of the company’s stock.
A number of analysts have recently issued reports on V shares. Citigroup raised their price target on shares of Visa from $205.00 to $223.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. BMO Capital Markets dropped their target price on shares of Visa from $234.00 to $213.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Guggenheim cut Visa from a “buy” rating to a “neutral” rating in a report on Wednesday, April 22nd. Jefferies Financial Group lowered Visa from a “buy” rating to a “hold” rating and cut their price objective for the stock from $190.00 to $180.00 in a report on Wednesday, April 15th. Finally, Nomura Securities dropped their price objective on shares of Visa from $233.00 to $214.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Seven research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $207.56.
Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.05. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.85 billion. Visa had a return on equity of 40.65% and a net margin of 51.37%. The firm’s revenue for the quarter was down 18.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.37 EPS. As a group, research analysts predict that Visa Inc will post 4.98 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Thursday, August 13th. Visa’s dividend payout ratio (DPR) is presently 22.06%.
In other news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $194.50, for a total transaction of $1,361,500.00. Following the sale, the chief executive officer now directly owns 136,090 shares in the company, valued at approximately $26,469,505. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rajat Taneja sold 3,279 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $202.02, for a total transaction of $662,423.58. Following the completion of the transaction, the insider now directly owns 221,282 shares of the company’s stock, valued at approximately $44,703,389.64. The disclosure for this sale can be found here. Insiders sold 50,429 shares of company stock worth $9,746,754 in the last 90 days. 0.19% 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.
Featured Article: How does new data get added to a blockchain?
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc (NYSE:V).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.