Vancity Investment Management Ltd reduced its holdings in Visa Inc. (NYSE:V – Free Report) by 4.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,220 shares of the credit-card processor’s stock after selling 6,106 shares during the period. Visa comprises 3.8% of Vancity Investment Management Ltd’s holdings, making the stock its 5th largest position. Vancity Investment Management Ltd’s holdings in Visa were worth $27,105,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of V. Keudell Morrison Wealth Management lifted its stake in Visa by 0.4% during the first quarter. Keudell Morrison Wealth Management now owns 11,761 shares of the credit-card processor’s stock worth $2,652,000 after purchasing an additional 43 shares during the period. Successful Portfolios LLC lifted its stake in shares of Visa by 3.6% during the first quarter. Successful Portfolios LLC now owns 1,232 shares of the credit-card processor’s stock valued at $278,000 after acquiring an additional 43 shares during the period. Wedge Capital Management L L P NC lifted its stake in Visa by 1.6% in the first quarter. Wedge Capital Management L L P NC now owns 2,914 shares of the credit-card processor’s stock valued at $657,000 after buying an additional 45 shares during the period. Seascape Capital Management lifted its stake in Visa by 0.3% in the first quarter. Seascape Capital Management now owns 16,038 shares of the credit-card processor’s stock valued at $3,616,000 after buying an additional 48 shares during the period. Finally, Pure Financial Advisors LLC raised its position in shares of Visa by 1.4% during the first quarter. Pure Financial Advisors LLC now owns 3,581 shares of the credit-card processor’s stock worth $807,000 after purchasing an additional 49 shares during the period. 81.35% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Visa
In related news, insider Rajat Taneja sold 2,300 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total transaction of $552,000.00. Following the transaction, the insider now owns 232,112 shares in the company, valued at approximately $55,706,880. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Rajat Taneja sold 2,300 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total transaction of $552,000.00. Following the transaction, the insider now owns 232,112 shares in the company, valued at approximately $55,706,880. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 24,025 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total value of $5,766,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,750 shares of company stock worth $15,845,648. Company insiders own 0.22% of the company’s stock.
Visa Stock Performance
Visa (NYSE:V – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.05. Visa had a return on equity of 49.42% and a net margin of 51.94%. The firm had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.06 billion. During the same quarter in the previous year, the company posted $1.98 earnings per share. The company’s revenue was up 11.7% compared to the same quarter last year. On average, analysts expect that Visa Inc. will post 8.65 earnings per share for the current year.
Visa Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were issued a $0.45 dividend. The ex-dividend date was Thursday, August 10th. This represents a $1.80 annualized dividend and a dividend yield of 0.73%. Visa’s dividend payout ratio is currently 22.84%.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on V. Oppenheimer restated an “outperform” rating and issued a $248.00 price target on shares of Visa in a research note on Monday, July 24th. Wedbush reaffirmed an “outperform” rating and issued a $270.00 price objective on shares of Visa in a research report on Thursday, August 31st. JPMorgan Chase & Co. raised their price objective on Visa from $265.00 to $296.00 and gave the company an “overweight” rating in a research report on Tuesday, August 22nd. Raymond James raised their price objective on Visa from $282.00 to $284.00 and gave the company an “outperform” rating in a research report on Wednesday, July 26th. Finally, Susquehanna lifted their price target on Visa from $266.00 to $300.00 in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $273.77.
Read Our Latest Analysis on Visa
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; and Visa DPS that provides a range of value added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.
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