Prudential Financial Inc. trimmed its holdings in Visa Inc. (NYSE:V) by 1.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 2,578,111 shares of the credit-card processor’s stock after selling 39,167 shares during the period. Prudential Financial Inc. owned approximately 0.11% of Visa worth $241,776,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Mascoma Wealth Management LLC acquired a new stake in shares of Visa in the second quarter valued at $122,000. SpiderRock Advisors LLC raised its stake in shares of Visa by 107.1% in the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock valued at $124,000 after acquiring an additional 19,709 shares in the last quarter. Advantage Investment Management LLC raised its stake in shares of Visa by 27.4% in the first quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock valued at $130,000 after acquiring an additional 314 shares in the last quarter. Delta Asset Management LLC TN raised its stake in shares of Visa by 11.7% in the second quarter. Delta Asset Management LLC TN now owns 1,721 shares of the credit-card processor’s stock valued at $161,000 after acquiring an additional 180 shares in the last quarter. Finally, Peddock Capital Advisors LLC raised its stake in shares of Visa by 6,285.7% in the second quarter. Peddock Capital Advisors LLC now owns 1,788 shares of the credit-card processor’s stock valued at $168,000 after acquiring an additional 1,760 shares in the last quarter. Institutional investors own 81.77% of the company’s stock.
A number of analysts have recently commented on V shares. Citigroup Inc. reiterated a “buy” rating and set a $115.00 target price (up previously from $100.00) on shares of Visa in a research report on Monday, July 24th. Wells Fargo & Company reiterated a “market perform” rating and set a $100.00 target price (up previously from $87.50) on shares of Visa in a research report on Saturday, July 22nd. Instinet lifted their target price on Visa from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, BidaskClub cut Visa from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Three equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $116.08.
In related news, Director Mary B. Cranston sold 10,400 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $103.32, for a total value of $1,074,528.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is currently owned by corporate insiders.
Shares of Visa Inc. (V) opened at $111.88 on Friday. The firm has a market cap of $232,802.64, a P/E ratio of 32.22, a P/E/G ratio of 1.64 and a beta of 0.97. Visa Inc. has a 1-year low of $75.17 and a 1-year high of $112.90. The company has a current ratio of 1.90, a quick ratio of 1.65 and a debt-to-equity ratio of 0.61.
Visa (NYSE:V) last issued its earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.05. The firm had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.63 billion. Visa had a net margin of 36.49% and a return on equity of 31.80%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. equities research analysts predict that Visa Inc. will post 4.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Friday, November 17th will be given a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, November 16th. This is an increase from Visa’s previous quarterly dividend of $0.17. Visa’s dividend payout ratio is 23.57%.
Visa Company Profile
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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