Davidson Investment Advisors lessened its position in shares of Visa Inc. (NYSE:V – Free Report) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,395 shares of the credit-card processor’s stock after selling 146 shares during the quarter. Davidson Investment Advisors’ holdings in Visa were worth $15,055,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of V. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Visa by 107,990.7% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,998,628,576 shares of the credit-card processor’s stock valued at $474,634,314,000 after acquiring an additional 1,996,779,546 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Visa by 116,608.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock worth $5,090,978,000 after buying an additional 24,483,134 shares in the last quarter. Norges Bank purchased a new stake in Visa during the fourth quarter worth $3,067,232,000. Morgan Stanley boosted its holdings in Visa by 13.0% during the fourth quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock worth $10,621,287,000 after buying an additional 5,864,340 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Visa by 130.4% during the first quarter. Envestnet Asset Management Inc. now owns 7,042,098 shares of the credit-card processor’s stock worth $680,069,000 after acquiring an additional 3,986,135 shares during the period. Institutional investors own 81.35% of the company’s stock.
Insiders Place Their Bets
In other news, Chairman Alfred F. Kelly, Jr. sold 40,000 shares of Visa stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $236.14, for a total value of $9,445,600.00. Following the transaction, the chairman now directly owns 139,854 shares of the company’s stock, valued at approximately $33,025,123.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Rajat Taneja sold 15,800 shares of Visa stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $250.01, for a total value of $3,950,158.00. Following the transaction, the insider now directly owns 232,112 shares in the company, valued at approximately $58,030,321.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Alfred F. Kelly, Jr. sold 40,000 shares of Visa stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $236.14, for a total transaction of $9,445,600.00. Following the completion of the transaction, the chairman now owns 139,854 shares in the company, valued at $33,025,123.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,100 shares of company stock valued at $17,368,639. 0.22% of the stock is owned by corporate insiders.
Visa Stock Down 0.5 %
Visa (NYSE:V – Get Free Report) last issued its quarterly earnings results on Tuesday, October 24th. The credit-card processor reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.10. Visa had a net margin of 52.90% and a return on equity of 50.13%. The company had revenue of $8.61 billion during the quarter, compared to the consensus estimate of $8.56 billion. During the same quarter in the previous year, the firm earned $1.93 earnings per share. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. On average, analysts predict that Visa Inc. will post 9.9 EPS for the current year.
Visa Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 9th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 0.84%. This is a boost from Visa’s previous quarterly dividend of $0.45. Visa’s dividend payout ratio (DPR) is presently 25.09%.
Analyst Ratings Changes
A number of equities analysts have weighed in on V shares. Wells Fargo & Company upped their price objective on shares of Visa from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 26th. Royal Bank of Canada raised their price objective on shares of Visa from $265.00 to $290.00 in a research report on Wednesday, July 26th. Barclays cut their price objective on shares of Visa from $285.00 to $278.00 and set an “overweight” rating for the company in a research report on Monday, October 30th. Raymond James raised their price objective on shares of Visa from $284.00 to $287.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 25th. Finally, UBS Group assumed coverage on shares of Visa in a research note on Friday, October 20th. They set a “buy” rating and a $295.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $275.67.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; and Visa DPS that provides a range of value added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.
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