Artemis Investment Management LLP lowered its stake in shares of Visa Inc. (NYSE:V) by 58.2% during the second quarter, Holdings Channel reports. The institutional investor owned 85,998 shares of the credit-card processor’s stock after selling 119,935 shares during the period. Artemis Investment Management LLP’s holdings in Visa were worth $6,380,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Iowa State Bank acquired a new stake in Visa during the second quarter valued at approximately $111,000. West Oak Capital LLC raised its stake in Visa by 245.5% in the second quarter. West Oak Capital LLC now owns 1,534 shares of the credit-card processor’s stock valued at $114,000 after buying an additional 1,090 shares in the last quarter. WealthTrust Arizona LLC raised its stake in Visa by 0.9% in the second quarter. WealthTrust Arizona LLC now owns 2,393 shares of the credit-card processor’s stock valued at $177,000 after buying an additional 21 shares in the last quarter. Invictus RG raised its stake in Visa by 144.2% in the first quarter. Invictus RG now owns 2,454 shares of the credit-card processor’s stock valued at $188,000 after buying an additional 1,449 shares in the last quarter. Finally, Arcadia Investment Management Corp MI raised its stake in Visa by 67.3% in the second quarter. Arcadia Investment Management Corp MI now owns 2,700 shares of the credit-card processor’s stock valued at $200,000 after buying an additional 1,086 shares in the last quarter. 80.08% of the stock is owned by institutional investors and hedge funds.
Shares of Visa Inc. (NYSE:V) traded up 0.01% on Thursday, hitting $83.36. 7,687,143 shares of the stock traded hands. The stock has a 50 day moving average of $81.96 and a 200-day moving average of $79.03. Visa Inc. has a 1-year low of $66.12 and a 1-year high of $83.79. The stock has a market cap of $196.73 billion, a PE ratio of 35.43 and a beta of 0.95.
Visa (NYSE:V) last announced its earnings results on Thursday, July 21st. The credit-card processor reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. The company earned $3.63 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Visa had a net margin of 38.72% and a return on equity of 22.36%. On average, equities research analysts expect that Visa Inc. will post $2.79 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Friday, August 19th were given a $0.14 dividend. The ex-dividend date was Wednesday, August 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.67%. Visa’s payout ratio is presently 24.35%.
A number of equities research analysts have recently issued reports on the stock. Vetr lowered shares of Visa from a “buy” rating to a “hold” rating and set a $83.12 price target on the stock. in a report on Monday, August 8th. Zacks Investment Research upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Tuesday, July 19th. Barclays PLC cut their price target on shares of Visa from $90.00 to $88.00 and set an “overweight” rating on the stock in a report on Thursday, July 7th. JPMorgan Chase & Co. restated a “buy” rating and set a $90.00 price target on shares of Visa in a report on Friday, July 22nd. Finally, Jefferies Group restated a “buy” rating and set a $93.00 price target on shares of Visa in a report on Friday, July 22nd. Four analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $88.69.
Visa Inc is a payments technology company. The Company is engaged in operating a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions across the world. The Company provides its services to consumers, businesses, financial institutions and governments in more than 200 countries and territories for electronic payments.
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