RFG Advisory LLC lowered its position in Visa Inc (NYSE:V) by 32.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,921 shares of the credit-card processor’s stock after selling 931 shares during the quarter. RFG Advisory LLC’s holdings in Visa were worth $334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Smith Moore & CO. lifted its position in shares of Visa by 2.1% in the second quarter. Smith Moore & CO. now owns 10,383 shares of the credit-card processor’s stock valued at $1,802,000 after acquiring an additional 216 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Visa by 6.3% in the second quarter. California Public Employees Retirement System now owns 5,522,110 shares of the credit-card processor’s stock worth $958,362,000 after buying an additional 328,807 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Visa by 1.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 368,783 shares of the credit-card processor’s stock worth $64,002,000 after buying an additional 5,043 shares in the last quarter. Covington Capital Management lifted its position in shares of Visa by 1.6% in the second quarter. Covington Capital Management now owns 114,753 shares of the credit-card processor’s stock worth $19,915,000 after buying an additional 1,816 shares in the last quarter. Finally, MidWestOne Financial Group Inc. purchased a new stake in shares of Visa in the second quarter worth about $1,642,000. 80.99% of the stock is owned by institutional investors.
In other Visa news, Director Denise M. Morrison acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average price of $171.13 per share, for a total transaction of $171,130.00. Following the acquisition, the director now owns 3,223 shares in the company, valued at approximately $551,551.99. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lloyd Carney sold 3,500 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $182.73, for a total value of $639,555.00. Following the sale, the director now owns 3,452 shares of the company’s stock, valued at approximately $630,783.96. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.
Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.04. The business had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Visa had a return on equity of 41.04% and a net margin of 53.43%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.20 EPS. On average, research analysts predict that Visa Inc will post 5.4 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 0.57%. Visa’s dividend payout ratio (DPR) is presently 21.69%.
A number of research firms recently commented on V. Raymond James boosted their target price on Visa from $177.00 to $193.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Wells Fargo & Co boosted their target price on Visa from $181.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. Bank of America boosted their target price on Visa from $177.00 to $192.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Nomura upped their price objective on Visa from $178.00 to $204.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, UBS Group upped 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 stock presently has an average rating of “Buy” and an average target price of $196.57.
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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