Visa Inc (V) Stake Lowered by Ardevora Asset Management LLP

Ardevora Asset Management LLP decreased its stake in shares of Visa Inc (NYSE:V) by 18.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 267,619 shares of the credit-card processor’s stock after selling 58,756 shares during the quarter. Visa comprises approximately 1.0% of Ardevora Asset Management LLP’s investment portfolio, making the stock its 14th largest holding. Ardevora Asset Management LLP’s holdings in Visa were worth $35,446,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in V. Bedel Financial Consulting Inc. grew its position in Visa by 24.2% in the 2nd quarter. Bedel Financial Consulting Inc. now owns 1,825 shares of the credit-card processor’s stock valued at $242,000 after purchasing an additional 356 shares during the period. Townsend & Associates Inc grew its position in Visa by 6.1% in the 2nd quarter. Townsend & Associates Inc now owns 6,244 shares of the credit-card processor’s stock valued at $827,000 after purchasing an additional 361 shares during the period. Signature Estate & Investment Advisors LLC grew its position in Visa by 36.8% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 1,357 shares of the credit-card processor’s stock valued at $180,000 after purchasing an additional 365 shares during the period. Carroll Financial Associates Inc. lifted its stake in Visa by 7.2% during the 2nd quarter. Carroll Financial Associates Inc. now owns 5,487 shares of the credit-card processor’s stock valued at $726,000 after acquiring an additional 368 shares in the last quarter. Finally, Intact Investment Management Inc. lifted its stake in Visa by 4.4% during the 2nd quarter. Intact Investment Management Inc. now owns 9,500 shares of the credit-card processor’s stock valued at $1,260,000 after acquiring an additional 400 shares in the last quarter. 80.27% of the stock is owned by institutional investors.

In related news, CFO Vasant M. Prabhu sold 25,064 shares of the business’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $140.56, for a total value of $3,522,995.84. Following the sale, the chief financial officer now directly owns 58,232 shares in the company, valued at approximately $8,185,089.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James H. Hoffmeister sold 6,912 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $140.01, for a total value of $967,749.12. Following the completion of the sale, the senior vice president now owns 6,912 shares in the company, valued at $967,749.12. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Several equities analysts have weighed in on the company. Loop Capital raised their price objective on Visa to $157.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. They noted that the move was a valuation call. Bank of America raised their price objective on Visa from $155.00 to $163.00 and gave the company a “buy” rating in a research note on Monday, August 13th. SunTrust Banks raised their price objective on Visa to $170.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. They noted that the move was a valuation call. Wolfe Research assumed coverage on Visa in a research note on Tuesday, July 17th. They set an “outperform” rating on the stock. Finally, Oppenheimer raised their price objective on Visa from $143.00 to $154.00 and gave the company an “outperform” rating in a research note on Tuesday, July 17th. Three research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. Visa has an average rating of “Buy” and a consensus target price of $149.35.

NYSE V opened at $147.63 on Friday. The firm has a market cap of $295.96 billion, a PE ratio of 42.42, a price-to-earnings-growth ratio of 1.80 and a beta of 1.09. Visa Inc has a one year low of $102.75 and a one year high of $148.07. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.60.

Visa (NYSE:V) last released its earnings results on Wednesday, July 25th. The credit-card processor reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.11. The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Visa had a return on equity of 36.09% and a net margin of 47.91%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 EPS. sell-side analysts forecast that Visa Inc will post 4.61 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Friday, August 17th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Thursday, August 16th. Visa’s payout ratio is 24.14%.

About Visa

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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Institutional Ownership by Quarter for Visa (NYSE:V)

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