Shell Asset Management Co. reduced its holdings in Visa Inc. (NYSE:V) by 0.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 539,688 shares of the credit-card processor’s stock after selling 3,252 shares during the quarter. Visa makes up 1.3% of Shell Asset Management Co.’s portfolio, making the stock its 5th biggest position. Shell Asset Management Co.’s holdings in Visa were worth $50,612,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of V. Mercer Capital Advisers Inc. lifted its position in shares of Visa by 2.2% in the 1st quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after buying an additional 25 shares during the last quarter. Mascoma Wealth Management LLC bought a new position in shares of Visa in the 2nd quarter worth about $122,000. SpiderRock Advisors LLC lifted its position in shares of Visa by 107.1% in the 2nd quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock worth $124,000 after buying an additional 19,709 shares during the last quarter. Advantage Investment Management LLC lifted its position in shares of Visa by 27.4% in the 1st quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock worth $130,000 after buying an additional 314 shares during the last quarter. Finally, Delta Asset Management LLC TN lifted its position in shares of Visa by 2.5% in the 1st quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock worth $137,000 after buying an additional 38 shares during the last quarter. Institutional investors own 81.74% of the company’s stock.
In other news, Director Mary B. Cranston sold 10,400 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $103.32, for a total value of $1,074,528.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $100.91, for a total value of $3,004,292.52. Following the completion of the sale, the executive vice president now directly owns 17,360 shares of the company’s stock, valued at $1,751,797.60. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
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Visa Inc. (NYSE V) opened at 105.30 on Friday. Visa Inc. has a one year low of $75.17 and a one year high of $106.84. The firm has a 50 day moving average of $102.82 and a 200 day moving average of $95.21. The firm has a market capitalization of $240.76 billion, a PE ratio of 39.16 and a beta of 0.94.
Visa (NYSE:V) last announced its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. Visa’s revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 EPS. Equities analysts forecast that Visa Inc. will post $3.43 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th were paid a $0.165 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.63%. Visa’s dividend payout ratio (DPR) is presently 24.54%.
A number of research analysts have recently issued reports on the stock. Vetr upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $100.12 price target on the stock in a research report on Tuesday, June 27th. Instinet raised their price target on shares of Visa from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Wells Fargo & Company restated a “market perform” rating and issued a $100.00 price target (up from $87.50) on shares of Visa in a research report on Saturday, July 22nd. Citigroup Inc. reiterated a “buy” rating and issued a $115.00 price objective (up from $100.00) on shares of Visa in a research report on Monday, July 24th. Finally, Zacks Investment Research downgraded shares of Visa from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Four analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $105.35.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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