MetLife Investment Advisors LLC cut its holdings in shares of Visa Inc (NYSE:V) by 3.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 525,806 shares of the credit-card processor’s stock after selling 16,675 shares during the quarter. Visa makes up approximately 0.8% of MetLife Investment Advisors LLC’s portfolio, making the stock its 14th largest holding. MetLife Investment Advisors LLC’s holdings in Visa were worth $69,643,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fort L.P. purchased a new stake in shares of Visa in the second quarter worth about $120,000. Cascade Investment Advisors Inc. purchased a new stake in shares of Visa in the second quarter worth about $132,000. Bridgeworth LLC purchased a new stake in shares of Visa in the second quarter worth about $143,000. Ruggie Capital Group purchased a new stake in shares of Visa in the second quarter worth about $164,000. Finally, Signature Estate & Investment Advisors LLC lifted its holdings in shares of Visa by 36.8% in the second quarter. Signature Estate & Investment Advisors LLC now owns 1,357 shares of the credit-card processor’s stock worth $180,000 after buying an additional 365 shares in the last quarter. 80.38% of the stock is currently owned by institutional investors and hedge funds.
In other Visa news, EVP William M. Sheedy sold 99,636 shares of the stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $139.28, for a total transaction of $13,877,302.08. Following the transaction, the executive vice president now directly owns 296,925 shares in the company, valued at $41,355,714. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is owned by company insiders.
Shares of NYSE V opened at $143.93 on Friday. Visa Inc has a one year low of $106.60 and a one year high of $151.56. The company has a current ratio of 1.61, a quick ratio of 1.69 and a debt-to-equity ratio of 0.58. The company has a market cap of $286.40 billion, a price-to-earnings ratio of 31.22, a price-to-earnings-growth ratio of 1.53 and a beta of 1.11.
Visa (NYSE:V) last issued its quarterly earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Visa had a net margin of 49.98% and a return on equity of 38.00%. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.44 billion. As a group, sell-side analysts predict that Visa Inc will post 5.32 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Friday, November 16th will be given a dividend of $0.25 per share. This is a boost from Visa’s previous quarterly dividend of $0.21. This represents a $1.00 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, November 15th. Visa’s dividend payout ratio (DPR) is presently 18.22%.
A number of brokerages have recently issued reports on V. Loop Capital increased their price target 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. Bank of America increased their price target on shares of Visa from $155.00 to $163.00 and gave the stock a “buy” rating in a report on Monday, August 13th. Wells Fargo & Co upped their price objective on shares of Visa from $161.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, October 1st. SunTrust Banks upped their price objective on shares of Visa to $170.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. They noted that the move was a valuation call. Finally, Wolfe Research assumed coverage on shares of Visa in a research report on Tuesday, July 17th. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $155.47.
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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