Visa Inc. (NYSE:V) Holdings Decreased by Tower Bridge Advisors

Tower Bridge Advisors trimmed its position in shares of Visa Inc. (NYSE:V) by 2.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 145,833 shares of the credit-card processor’s stock after selling 3,505 shares during the quarter. Visa accounts for about 2.3% of Tower Bridge Advisors’ holdings, making the stock its 6th largest holding. Tower Bridge Advisors’ holdings in Visa were worth $30,877,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Horan Securities Inc. increased its stake in Visa by 432.0% in the 4th quarter. Horan Securities Inc. now owns 133 shares of the credit-card processor’s stock worth $29,000 after purchasing an additional 108 shares during the period. Cowa LLC purchased a new position in shares of Visa during the fourth quarter valued at approximately $29,000. Greenhouse Wealth Management LLC bought a new stake in shares of Visa during the fourth quarter valued at approximately $39,000. Eukles Asset Management bought a new stake in shares of Visa during the first quarter valued at approximately $39,000. Finally, Mach 1 Financial Group Inc. bought a new stake in shares of Visa during the fourth quarter valued at approximately $42,000. 81.35% of the stock is currently owned by institutional investors.

Visa stock traded up $0.51 during midday trading on Friday, reaching $234.46. 146,306 shares of the stock traded hands, compared to its average volume of 8,625,912. The business’s fifty day moving average price is $227.07. Visa Inc. has a 12 month low of $179.23 and a 12 month high of $237.50. The company has a market cap of $456.72 billion, a PE ratio of 48.34, a P/E/G ratio of 2.20 and a beta of 1.00. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.61.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 27th. The credit-card processor reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.12. Visa had a return on equity of 33.86% and a net margin of 49.93%. The company had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same period in the prior year, the company earned $1.39 earnings per share. The firm’s revenue was down 2.1% on a year-over-year basis. As a group, research analysts predict that Visa Inc. will post 5.57 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1st. Stockholders of record on Friday, May 14th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Thursday, May 13th. Visa’s payout ratio is 25.40%.

In other news, insider Rajat Taneja sold 31,750 shares of the firm’s stock in a transaction that occurred on Thursday, April 22nd. The stock was sold at an average price of $230.00, for a total value of $7,302,500.00. Following the completion of the sale, the insider now directly owns 282,606 shares of the company’s stock, valued at approximately $64,999,380. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 31st. The shares were sold at an average price of $212.55, for a total value of $1,912,950.00. Following the completion of the sale, the chief executive officer now directly owns 163,112 shares of the company’s stock, valued at $34,669,455.60. The disclosure for this sale can be found here. Insiders sold a total of 118,611 shares of company stock valued at $26,847,669 over the last ninety days. Corporate insiders own 0.19% of the company’s stock.

V has been the topic of several research reports. Barclays lifted their price target on Visa from $275.00 to $284.00 and gave the company an “overweight” rating in a research report on Sunday, June 6th. BMO Capital Markets upped their price target on Visa from $230.00 to $245.00 and gave the company an “outperform” rating in a report on Thursday, April 29th. Daiwa Capital Markets raised Visa from a “neutral” rating to an “outperform” rating and set a $259.00 price target on the stock in a report on Tuesday, May 18th. Mizuho upped their price target on Visa from $250.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, April 28th. Finally, Raymond James upped their price target on Visa from $233.00 to $268.00 and gave the company an “outperform” rating in a report on Wednesday, April 28th. Twenty-four research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $254.46.

Visa Company Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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