Davis Capital Management Purchases 128 Shares of Visa Inc (NYSE:V)

Davis Capital Management raised its stake in shares of Visa Inc (NYSE:V) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,323 shares of the credit-card processor’s stock after purchasing an additional 128 shares during the quarter. Davis Capital Management’s holdings in Visa were worth $642,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. BEAM Asset Management LLC increased its stake in Visa by 2.0% in the second quarter. BEAM Asset Management LLC now owns 2,654 shares of the credit-card processor’s stock valued at $525,000 after purchasing an additional 52 shares in the last quarter. Perennial Investment Advisors LLC boosted its holdings in shares of Visa by 2.6% in the second quarter. Perennial Investment Advisors LLC now owns 2,023 shares of the credit-card processor’s stock valued at $391,000 after buying an additional 52 shares during the period. Trellis Advisors LLC boosted its holdings in shares of Visa by 2.2% in the second quarter. Trellis Advisors LLC now owns 2,419 shares of the credit-card processor’s stock valued at $467,000 after buying an additional 52 shares during the period. Ironwood Investment Counsel LLC boosted its holdings in shares of Visa by 1.0% in the first quarter. Ironwood Investment Counsel LLC now owns 5,509 shares of the credit-card processor’s stock valued at $887,000 after buying an additional 57 shares during the period. Finally, Laurel Wealth Advisors LLC boosted its holdings in shares of Visa by 3.7% in the first quarter. Laurel Wealth Advisors LLC now owns 1,588 shares of the credit-card processor’s stock valued at $256,000 after buying an additional 57 shares during the period. Institutional investors own 81.41% of the company’s stock.

In other news, insider Rajat Taneja sold 3,279 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $202.02, for a total value of $662,423.58. Following the sale, the insider now directly owns 221,282 shares in the company, valued at approximately $44,703,389.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $195.00, for a total transaction of $1,365,000.00. Following the completion of the sale, the chief executive officer now owns 130,090 shares in the company, valued at $25,367,550. The disclosure for this sale can be found here. Insiders have sold 50,429 shares of company stock worth $9,746,754 over the last quarter. Corporate insiders own 0.19% of the company’s stock.

Shares of Visa stock opened at $190.40 on Friday. The company has a market capitalization of $377.15 billion, a price-to-earnings ratio of 36.07, a PEG ratio of 3.09 and a beta of 0.92. The company has a quick ratio of 1.25, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. Visa Inc has a 12-month low of $133.93 and a 12-month high of $214.17. The firm’s 50-day moving average price is $194.04 and its two-hundred day moving average price is $187.14.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.85 billion. Visa had a net margin of 51.37% and a return on equity of 40.65%. The business’s revenue for the quarter was down 18.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.37 earnings per share. On average, sell-side analysts expect that Visa Inc will post 4.98 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, August 13th. This represents a $1.20 dividend on an annualized basis and a yield of 0.63%. Visa’s payout ratio is 22.06%.

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Visa from $203.00 to $186.00 and set an “overweight” rating for the company in a report on Wednesday. Royal Bank of Canada increased their price target on shares of Visa from $195.00 to $212.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. SunTrust Banks increased their price target on shares of Visa from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Zacks Investment Research upgraded shares of Visa from a “sell” rating to a “hold” rating and set a $181.00 price target for the company in a research note on Sunday, May 3rd. Finally, Goldman Sachs Group started coverage on shares of Visa in a research note on Tuesday, July 14th. They issued a “buy” rating and a $223.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Visa presently has an average rating of “Buy” and a consensus target price of $207.56.

About Visa

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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Institutional Ownership by Quarter for Visa (NYSE:V)

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