Visa Inc (NYSE:V) is Zevin Asset Management LLC’s 2nd Largest Position

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Zevin Asset Management LLC lessened its position in Visa Inc (NYSE:V) by 7.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 103,445 shares of the credit-card processor’s stock after selling 8,564 shares during the quarter. Visa makes up about 5.7% of Zevin Asset Management LLC’s investment portfolio, making the stock its 2nd largest holding. Zevin Asset Management LLC’s holdings in Visa were worth $17,794,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in V. Nuveen Asset Management LLC lifted its stake in shares of Visa by 3,715.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 16,291,965 shares of the credit-card processor’s stock valued at $2,827,471,000 after purchasing an additional 15,864,991 shares during the period. Thoroughbred Financial Services LLC lifted its stake in shares of Visa by 17,806.8% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,346,951 shares of the credit-card processor’s stock valued at $334,695,000 after purchasing an additional 3,328,260 shares during the period. BlackRock Inc. lifted its stake in shares of Visa by 2.3% in the 2nd quarter. BlackRock Inc. now owns 123,791,138 shares of the credit-card processor’s stock valued at $21,483,952,000 after purchasing an additional 2,773,330 shares during the period. Prudential Financial Inc. increased its position in Visa by 92.0% during the 2nd quarter. Prudential Financial Inc. now owns 3,898,728 shares of the credit-card processor’s stock valued at $676,625,000 after buying an additional 1,868,089 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Visa by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 146,976,797 shares of the credit-card processor’s stock valued at $25,507,824,000 after buying an additional 1,615,505 shares in the last quarter. Institutional investors own 80.98% of the company’s stock.

A number of research analysts recently weighed in on the company. KeyCorp raised their price objective on Visa from $190.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Wedbush set a $187.00 price objective on Visa and gave the company a “buy” rating in a research report on Tuesday, September 24th. BMO Capital Markets raised their price objective on Visa from $231.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on Visa from $166.00 to $182.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, UBS Group raised their price objective on Visa from $183.00 to $187.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $199.04.

In other Visa news, EVP William M. Sheedy sold 21,164 shares of Visa stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $178.71, for a total value of $3,782,218.44. Following the completion of the sale, the executive vice president now owns 227,126 shares of the company’s stock, valued at approximately $40,589,687.46. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $177.79, for a total value of $1,244,530.00. Following the completion of the transaction, the chief executive officer now owns 55,446 shares in the company, valued at $9,857,744.34. The disclosure for this sale can be found here. In the last three months, insiders sold 53,215 shares of company stock valued at $9,564,487. Corporate insiders own 0.17% of the company’s stock.

Shares of Visa stock traded up $0.54 on Friday, reaching $178.97. The company’s stock had a trading volume of 3,777,681 shares, compared to its average volume of 7,614,820. The company has a market capitalization of $349.90 billion, a price-to-earnings ratio of 32.90, a P/E/G ratio of 1.83 and a beta of 0.94. The firm’s fifty day simple moving average is $176.22 and its two-hundred day simple moving average is $173.43. Visa Inc has a 52 week low of $121.60 and a 52 week high of $187.05. The company has a quick ratio of 1.69, a current ratio of 1.56 and a debt-to-equity ratio of 0.57.

Visa (NYSE:V) last posted its earnings results on Thursday, October 24th. The credit-card processor reported $1.47 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.04. The business had revenue of $6.14 billion during the quarter, compared to analyst estimates of $6.08 billion. Visa had a return on equity of 42.57% and a net margin of 52.57%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.21 EPS. As a group, research analysts predict that Visa Inc will post 6.21 EPS for the current year.

The firm also recently announced a dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. Visa’s payout ratio is 18.38%.

Visa Company Profile

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.

Further Reading: Analyzing a company’s cash flow statement

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Institutional Ownership by Quarter for Visa (NYSE:V)

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