Bristlecone Advisors LLC decreased its stake in shares of Visa Inc (NYSE:V) by 6.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,318 shares of the credit-card processor’s stock after selling 1,755 shares during the period. Visa comprises about 1.2% of Bristlecone Advisors LLC’s investment portfolio, making the stock its 18th biggest holding. Bristlecone Advisors LLC’s holdings in Visa were worth $3,618,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Bank of Montreal Can bought a new position in Visa in the second quarter worth about $727,019,000. Amundi Pioneer Asset Management Inc. lifted its holdings in Visa by 53.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 3,929,346 shares of the credit-card processor’s stock worth $470,029,000 after acquiring an additional 1,363,772 shares during the last quarter. Gateway Investment Advisers LLC bought a new position in Visa in the second quarter worth about $146,859,000. Welch & Forbes LLC bought a new position in Visa in the second quarter worth about $110,750,000. Finally, BTIM Corp. bought a new position in Visa in the second quarter worth about $102,131,000. 80.27% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO Vasant M. Prabhu sold 25,064 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $140.56, for a total value of $3,522,995.84. Following the completion of the transaction, the chief financial officer now owns 58,232 shares of the company’s stock, valued at approximately $8,185,089.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James H. Hoffmeister sold 6,912 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $140.01, for a total transaction of $967,749.12. Following the completion of the transaction, the senior vice president now directly owns 6,912 shares of the company’s stock, valued at approximately $967,749.12. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
Visa stock opened at $147.63 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $295.96 billion, a price-to-earnings ratio of 42.42, a price-to-earnings-growth ratio of 1.80 and a beta of 1.09. Visa Inc has a 1 year low of $102.75 and a 1 year high of $148.07.
Visa (NYSE:V) last posted its quarterly earnings results on Wednesday, July 25th. The credit-card processor reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.11. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.09 billion. Visa had a net margin of 47.91% and a return on equity of 36.09%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 earnings per share. sell-side analysts predict that Visa Inc will post 4.61 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Friday, August 17th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $0.84 annualized dividend and a yield of 0.57%. Visa’s dividend payout ratio (DPR) is 24.14%.
A number of equities analysts have issued reports on the stock. Loop Capital raised their target price on shares of Visa to $157.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. They noted that the move was a valuation call. Cantor Fitzgerald raised their price target on shares of Visa to $160.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. Buckingham Research raised their price target on shares of Visa from $152.00 to $169.00 and gave the company a “buy” rating in a research note on Tuesday, June 26th. Wells Fargo & Co raised their price target on shares of Visa from $143.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, July 12th. Finally, UBS Group started coverage on shares of Visa in a research note on Friday, May 18th. They issued a “neutral” rating and a $141.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $149.35.
Visa Company Profile
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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