Select Equity Group L.P. lessened its holdings in shares of Visa Inc (NYSE:V) by 51.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,357 shares of the credit-card processor’s stock after selling 37,638 shares during the quarter. Select Equity Group L.P.’s holdings in Visa were worth $4,683,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of V. Zurich Insurance Group Ltd FI increased its stake in Visa by 8.6% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 376,524 shares of the credit-card processor’s stock worth $49,871,000 after acquiring an additional 29,661 shares during the last quarter. Centaurus Financial Inc. increased its stake in Visa by 50.8% in the 2nd quarter. Centaurus Financial Inc. now owns 19,939 shares of the credit-card processor’s stock worth $2,641,000 after acquiring an additional 6,714 shares during the last quarter. grace capital bought a new stake in Visa in the 2nd quarter worth approximately $3,142,000. Colony Group LLC increased its stake in Visa by 1.4% in the 2nd quarter. Colony Group LLC now owns 31,318 shares of the credit-card processor’s stock worth $4,148,000 after acquiring an additional 428 shares during the last quarter. Finally, Albion Financial Group UT increased its stake in Visa by 5.9% in the 2nd quarter. Albion Financial Group UT now owns 96,598 shares of the credit-card processor’s stock worth $12,794,000 after acquiring an additional 5,409 shares during the last quarter. 80.38% of the stock is currently owned by institutional investors.
V opened at $143.93 on Friday. Visa Inc has a 52-week low of $106.60 and a 52-week high of $151.56. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.61 and a quick ratio of 1.69. The firm has a market cap of $294.52 billion, a P/E ratio of 31.47, a price-to-earnings-growth ratio of 1.57 and a beta of 1.11.
Visa (NYSE:V) last posted its quarterly earnings data on Wednesday, October 24th. The credit-card processor reported $1.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.01. Visa had a return on equity of 38.00% and a net margin of 49.98%. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.44 billion. As a group, research analysts forecast that Visa Inc will post 5.32 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Investors of record on Friday, November 16th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.69%. This is a boost from Visa’s previous quarterly dividend of $0.21. Visa’s payout ratio is presently 18.22%.
A number of brokerages have recently commented on V. BMO Capital Markets lifted their target price on Visa from $187.00 to $196.00 and gave the stock an “outperform” rating in a report on Thursday, October 25th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $166.00 target price on shares of Visa in a report on Thursday, October 25th. Credit Suisse Group lifted their target price on Visa from $150.00 to $164.00 and gave the stock an “outperform” rating in a report on Monday, October 8th. Wells Fargo & Co lifted their target price on Visa from $161.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, October 1st. Finally, Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $168.00 target price for the company in a report on Tuesday, September 25th. Two analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $155.47.
In other Visa news, EVP William M. Sheedy sold 99,636 shares of Visa stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $139.28, for a total transaction of $13,877,302.08. Following the completion of the sale, the executive vice president now directly owns 296,925 shares of the company’s stock, valued at approximately $41,355,714. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is owned by 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.
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