Lateef Investment Management L.P. lessened its stake in Visa Inc (NYSE:V) by 4.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 340,068 shares of the credit-card processor’s stock after selling 15,249 shares during the period. Visa accounts for about 6.0% of Lateef Investment Management L.P.’s portfolio, making the stock its 5th largest position. Lateef Investment Management L.P.’s holdings in Visa were worth $45,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of V. Cascade Investment Advisors Inc. purchased a new position in Visa during the 2nd quarter valued at about $132,000. Bedel Financial Consulting Inc. purchased a new position in Visa during the 1st quarter valued at about $176,000. Signature Estate & Investment Advisors LLC increased its position in Visa by 36.8% during 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. Quad Cities Investment Group LLC purchased a new position in Visa during the 2nd quarter valued at about $186,000. Finally, Landaas & Co. WI ADV purchased a new position in Visa during the 2nd quarter valued at about $189,000. 80.18% of the stock is currently owned by institutional investors.
A number of research analysts have commented on the stock. Cantor Fitzgerald raised their target price on shares of Visa to $160.00 and gave the company an “overweight” rating in a research report on Thursday, July 26th. Loop Capital raised their target price on shares of Visa to $157.00 and gave the company a “buy” rating in a research report on Thursday, July 26th. They noted that the move was a valuation call. Buckingham Research raised their target price on shares of Visa from $152.00 to $169.00 and gave the company a “buy” rating in a research report on Tuesday, June 26th. Wells Fargo & Co raised their target price on shares of Visa from $143.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, July 12th. Finally, Credit Suisse Group raised their target price on shares of Visa from $150.00 to $164.00 and gave the company an “outperform” rating in a research report on Monday, October 8th. Two equities research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $153.97.
NYSE:V opened at $140.06 on Friday. Visa Inc has a fifty-two week low of $106.60 and a fifty-two week high of $151.56. The stock has a market capitalization of $305.32 billion, a PE ratio of 40.25, a PEG ratio of 1.86 and a beta of 1.06. 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 quarterly earnings results on Wednesday, July 25th. The credit-card processor reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.11. Visa had a net margin of 47.91% and a return on equity of 36.09%. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same period last year, the business earned $0.86 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. As a group, equities research analysts forecast that Visa Inc will post 4.59 EPS for the current year.
In related news, CFO Vasant M. Prabhu sold 25,064 shares of Visa 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 sale, the chief financial officer now directly owns 58,232 shares in the company, valued at approximately $8,185,089.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James H. Hoffmeister sold 6,912 shares of Visa 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 sale, the senior vice president now owns 6,912 shares of the company’s stock, valued at $967,749.12. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.
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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