Tocqueville Asset Management L.P. trimmed its holdings in shares of Visa Inc (NYSE:V) by 3.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 274,672 shares of the credit-card processor’s stock after selling 10,197 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Visa were worth $47,669,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of the stock. Lowe Wealth Advisors LLC lifted its stake in shares of Visa by 114.7% in the 2nd quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 86 shares during the last quarter. Personal Wealth Partners bought a new stake in shares of Visa in the 2nd quarter valued at about $30,000. Essex Investment Management Co. LLC bought a new stake in shares of Visa in the 4th quarter valued at about $33,000. Mcmillion Capital Management Inc. bought a new stake in shares of Visa in the 2nd quarter valued at about $38,000. Finally, Hexavest Inc. bought a new stake in shares of Visa in the 2nd quarter valued at about $40,000. Institutional investors and hedge funds own 81.63% of the company’s stock.
In other Visa news, Director Lloyd Carney sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $182.73, for a total transaction of $639,555.00. Following the transaction, the director now owns 3,452 shares in the company, valued at approximately $630,783.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Denise M. Morrison bought 1,000 shares of Visa stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $171.13 per share, for a total transaction of $171,130.00. Following the acquisition, the director now directly owns 3,223 shares in the company, valued at approximately $551,551.99. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.
Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.04. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.70 billion. Visa had a return on equity of 41.04% and a net margin of 53.43%. Visa’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.20 EPS. On average, analysts anticipate that Visa Inc will post 5.4 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, August 15th. Visa’s payout ratio is 21.69%.
A number of equities research analysts have recently weighed in on V shares. Barclays boosted their target price on Visa from $181.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Raymond James boosted their target price on Visa from $177.00 to $193.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Jefferies Financial Group boosted their target price on Visa from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Zacks Investment Research lowered Visa from a “buy” rating to a “hold” rating and set a $180.00 target price for the company. in a research note on Saturday, June 15th. Finally, UBS Group boosted their target price on Visa from $183.00 to $187.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $195.46.
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.
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