Exchange Capital Management Inc. lowered its position in shares of Visa Inc. (NYSE:V – Free Report) by 2.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,019 shares of the credit-card processor’s stock after selling 595 shares during the period. Exchange Capital Management Inc.’s holdings in Visa were worth $4,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Graham Capital Wealth Management LLC purchased a new stake in shares of Visa in the 1st quarter valued at $299,862,000. Financial Freedom LLC acquired a new stake in shares of Visa in the fourth quarter valued at $32,000. Ridgewood Investments LLC purchased a new position in Visa in the first quarter valued at $35,000. Kalos Management Inc. acquired a new position in Visa during the 1st quarter worth approximately $40,000. Finally, NewSquare Capital LLC increased its holdings in Visa by 121.9% in the first quarter. NewSquare Capital LLC now owns 213 shares of the credit-card processor’s stock valued at $48,000 after buying an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 81.35% of the company’s stock.
Wall Street Analyst Weigh In
V has been the subject of a number of research analyst reports. Bank of America upped their price target on Visa from $270.00 to $275.00 in a report on Tuesday, July 18th. JPMorgan Chase & Co. increased their price target on shares of Visa from $265.00 to $296.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 22nd. Robert W. Baird reaffirmed an “outperform” rating and set a $284.00 price objective on shares of Visa in a research note on Thursday, September 14th. Raymond James increased their price target on shares of Visa from $282.00 to $284.00 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. Finally, Royal Bank of Canada upped their price objective on Visa from $265.00 to $290.00 in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $273.77.
Insider Activity
In other Visa news, insider Rajat Taneja sold 22,700 shares of the stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $240.21, for a total transaction of $5,452,767.00. Following the transaction, the insider now owns 232,112 shares of the company’s stock, valued at approximately $55,755,623.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Visa news, insider Rajat Taneja sold 22,700 shares of Visa stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $240.21, for a total value of $5,452,767.00. Following the completion of the transaction, the insider now directly owns 232,112 shares in the company, valued at $55,755,623.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $240.00, for a total transaction of $1,956,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,225 shares of company stock worth $13,477,806. 0.21% of the stock is currently owned by corporate insiders.
Visa Trading Up 0.7 %
NYSE:V opened at $235.04 on Monday. The stock has a market cap of $437.61 billion, a price-to-earnings ratio of 29.83, a price-to-earnings-growth ratio of 1.56 and a beta of 0.96. Visa Inc. has a one year low of $174.60 and a one year high of $250.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 1.49. The business’s 50-day simple moving average is $239.99 and its 200 day simple moving average is $233.92.
Visa (NYSE:V – Get Free Report) last announced its earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.05. The company had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.06 billion. Visa had a return on equity of 49.42% and a net margin of 51.94%. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.98 EPS. As a group, sell-side analysts predict that Visa Inc. will post 8.65 earnings per share for the current fiscal year.
Visa Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Thursday, August 10th. Visa’s dividend payout ratio is currently 22.84%.
Visa 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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