WINTON GROUP Ltd lowered its position in Visa Inc. (NYSE:V) by 60.3% in the second quarter, Holdings Channel.com reports. The fund owned 3,070 shares of the credit-card processor’s stock after selling 4,665 shares during the period. WINTON GROUP Ltd’s holdings in Visa were worth $718,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Visa by 7.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 84,009,523 shares of the credit-card processor’s stock valued at $17,787,336,000 after purchasing an additional 6,034,535 shares in the last quarter. Morgan Stanley increased its holdings in Visa by 0.9% in the 1st quarter. Morgan Stanley now owns 41,175,579 shares of the credit-card processor’s stock valued at $8,718,106,000 after buying an additional 382,061 shares during the period. Geode Capital Management LLC increased its holdings in Visa by 2.0% in the 1st quarter. Geode Capital Management LLC now owns 26,805,015 shares of the credit-card processor’s stock valued at $5,659,987,000 after buying an additional 515,935 shares during the period. Fisher Asset Management LLC raised its stake in shares of Visa by 3.4% in the 2nd quarter. Fisher Asset Management LLC now owns 23,646,481 shares of the credit-card processor’s stock valued at $5,529,020,000 after buying an additional 786,166 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Visa by 10.7% during the 2nd quarter. Alliancebernstein L.P. now owns 20,743,603 shares of the credit-card processor’s stock worth $4,850,269,000 after acquiring an additional 2,009,038 shares during the period. 81.04% of the stock is currently owned by institutional investors.
In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the stock in a transaction that occurred on Wednesday, June 30th. The shares were sold at an average price of $235.11, for a total value of $2,115,990.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Ryan Mcinerney sold 11,193 shares of the company’s stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $229.10, for a total transaction of $2,564,316.30. Following the completion of the sale, the president now directly owns 11,193 shares of the company’s stock, valued at approximately $2,564,316.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,813 shares of company stock worth $20,342,613. Insiders own 0.19% of the company’s stock.
Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 27th. The credit-card processor reported $1.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.16. The firm had revenue of $6.13 billion during the quarter, compared to analysts’ expectations of $5.86 billion. Visa had a return on equity of 35.45% and a net margin of 47.97%. The company’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 EPS. Analysts anticipate that Visa Inc. will post 5.82 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Friday, August 13th were issued a $0.32 dividend. The ex-dividend date was Thursday, August 12th. This represents a $1.28 annualized dividend and a yield of 0.58%. Visa’s dividend payout ratio is currently 25.40%.
Several research analysts recently issued reports on V shares. Barclays increased their price target on shares of Visa from $275.00 to $284.00 and gave the stock an “overweight” rating in a research report on Sunday, June 6th. Oppenheimer raised their target price on Visa from $260.00 to $281.00 and gave the stock an “outperform” rating in a research report on Friday, July 9th. Daiwa Capital Markets cut Visa from an “outperform” rating to a “neutral” rating and set a $250.00 price target on the stock. in a research report on Thursday, August 12th. Wells Fargo & Company lifted their price objective on Visa from $265.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. Finally, Wedbush upped their target price on shares of Visa from $250.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. One research analyst has rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $271.52.
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.
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