Wedbush Securities Inc. reduced its position in shares of Visa Inc. (NYSE:V) by 3.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,763 shares of the credit-card processor’s stock after selling 1,435 shares during the quarter. Wedbush Securities Inc.’s holdings in Visa were worth $3,800,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Swiss National Bank boosted its holdings in shares of Visa by 23.2% in the first quarter. Swiss National Bank now owns 7,360,428 shares of the credit-card processor’s stock worth $654,121,000 after buying an additional 1,388,200 shares during the last quarter. Karp Capital Management Corp raised its stake in Visa by 3,256.5% during the 1st quarter. Karp Capital Management Corp now owns 970,495 shares of the credit-card processor’s stock worth $86,248,000 after acquiring an additional 941,581 shares during the period. MUFG Securities EMEA plc raised its stake in Visa by 7.0% during the 1st quarter. MUFG Securities EMEA plc now owns 11,768,474 shares of the credit-card processor’s stock worth $1,045,864,000 after acquiring an additional 775,000 shares during the period. C WorldWide Group Holding A S raised its stake in Visa by 10.2% during the 1st quarter. C WorldWide Group Holding A S now owns 8,379,106 shares of the credit-card processor’s stock worth $744,651,000 after acquiring an additional 773,707 shares during the period. Finally, Morningstar Investment Services LLC bought a new stake in Visa during the 1st quarter worth approximately $55,972,000. Institutional investors and hedge funds own 81.74% of the company’s stock.
Several equities research analysts have recently issued reports on V shares. Vetr upgraded shares of Visa from a “sell” rating to a “hold” rating and set a $105.08 price target on the stock in a research report on Wednesday. BMO Capital Markets restated an “outperform” rating on shares of Visa in a research report on Tuesday. UBS AG restated an “overweight” rating on shares of Visa in a research report on Thursday, August 24th. Robert W. Baird restated a “buy” rating on shares of Visa in a research report on Thursday, August 24th. Finally, KeyCorp reaffirmed a “buy” rating and set a $110.00 price objective on shares of Visa in a research note on Friday, August 25th. Four analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $105.35.
Shares of Visa Inc. (NYSE V) traded down 0.74% during midday trading on Friday, reaching $105.30. The company had a trading volume of 12,622,921 shares. The company’s 50 day moving average price is $102.82 and its 200 day moving average price is $95.21. Visa Inc. has a 52-week low of $75.17 and a 52-week high of $106.84. The stock has a market capitalization of $240.76 billion, a PE ratio of 39.16 and a beta of 0.94.
Visa (NYSE:V) last released its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. The company’s revenue was up 25.8% compared to the same quarter last year. During the same period last year, the company posted $0.69 EPS. Equities research analysts expect that Visa Inc. will post $3.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th were given a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $0.66 annualized dividend and a dividend yield of 0.63%. Visa’s dividend payout ratio (DPR) is presently 24.54%.
In related news, Director Mary B. Cranston sold 10,400 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total transaction of $1,074,528.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total value of $3,004,292.52. Following the sale, the executive vice president now owns 17,360 shares of the company’s stock, valued at $1,751,797.60. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.
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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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