Montag & Caldwell LLC Decreases Holdings in Visa Inc. (NYSE:V)

Montag & Caldwell LLC trimmed its position in Visa Inc. (NYSE:V) by 5.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 172,354 shares of the credit-card processor’s stock after selling 10,278 shares during the period. Visa comprises approximately 3.6% of Montag & Caldwell LLC’s holdings, making the stock its 9th largest holding. Montag & Caldwell LLC’s holdings in Visa were worth $40,300,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in V. Danda Trouve Investment Management Inc. bought a new position in Visa in the 2nd quarter valued at $25,000. Baldrige Asset Management LLC bought a new position in Visa in the 2nd quarter valued at $40,000. FFT Wealth Management LLC bought a new position in shares of Visa in the 2nd quarter worth $46,000. Financial Management Professionals Inc. boosted its position in shares of Visa by 38.9% in the 2nd quarter. Financial Management Professionals Inc. now owns 207 shares of the credit-card processor’s stock worth $48,000 after purchasing an additional 58 shares during the last quarter. Finally, Harvest Group Wealth Management LLC bought a new position in shares of Visa in the 2nd quarter worth $50,000. Hedge funds and other institutional investors own 81.04% of the company’s stock.

In related news, EVP Tullier Kelly Mahon sold 2,091 shares of the business’s stock in a transaction that occurred on Wednesday, July 28th. The stock was sold at an average price of $248.71, for a total value of $520,052.61. Following the completion of the sale, the executive vice president now directly owns 32,055 shares in the company, valued at $7,972,399.05. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Ryan Mcinerney sold 11,193 shares of the business’s stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $246.29, for a total value of $2,756,723.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,813 shares of company stock valued at $20,342,613. Corporate insiders own 0.19% of the company’s stock.

Several research analysts have recently issued reports on the company. Morgan Stanley raised their price target on Visa from $279.00 to $282.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 28th. Oppenheimer raised their price target on Visa from $260.00 to $281.00 and gave the stock an “outperform” rating in a research report on Friday, July 9th. Raymond James raised their price objective on Visa from $268.00 to $286.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 28th. Credit Suisse Group raised their price objective on Visa from $280.00 to $285.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 8th. Finally, Susquehanna Bancshares raised their price objective on Visa from $265.00 to $290.00 and gave the stock a “positive” rating in a research note on Wednesday, July 28th. One equities research analyst has rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $271.52.

Visa stock traded up $1.44 during midday trading on Tuesday, reaching $221.49. 157,882 shares of the company’s stock were exchanged, compared to its average volume of 8,240,337. Visa Inc. has a 52 week low of $179.23 and a 52 week high of $252.67. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a market cap of $431.45 billion, a price-to-earnings ratio of 44.45, a P/E/G ratio of 2.00 and a beta of 0.98. The stock’s 50-day simple moving average is $235.18 and its 200 day simple moving average is $229.74.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 27th. The credit-card processor reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.16. Visa had a return on equity of 35.45% and a net margin of 47.97%. The business had revenue of $6.13 billion during the quarter, compared to analysts’ expectations of $5.86 billion. During the same quarter last year, the company posted $1.07 earnings per share. Visa’s quarterly revenue was up 26.7% on a year-over-year basis. Research analysts forecast that Visa Inc. will post 5.82 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Friday, August 13th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Thursday, August 12th. Visa’s dividend payout ratio is presently 25.40%.

Visa Profile

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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Institutional Ownership by Quarter for Visa (NYSE:V)

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