Glynn Capital Management LLC cut its position in Visa Inc. (NYSE:V) by 12.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,000 shares of the credit-card processor’s stock after selling 2,815 shares during the period. Visa accounts for 0.5% of Glynn Capital Management LLC’s holdings, making the stock its 28th largest position. Glynn Capital Management LLC’s holdings in Visa were worth $1,483,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Badgley Phelps & Bell Inc. increased its stake in shares of Visa by 0.9% in the first quarter. Badgley Phelps & Bell Inc. now owns 192,442 shares of the credit-card processor’s stock worth $14,718,000 after buying an additional 1,707 shares in the last quarter. Compton Capital Management Inc. RI increased its stake in shares of Visa by 6.0% in the first quarter. Compton Capital Management Inc. RI now owns 13,285 shares of the credit-card processor’s stock worth $1,016,000 after buying an additional 750 shares in the last quarter. Hyman Charles D purchased a new stake in shares of Visa during the first quarter worth about $623,000. Lakeview Capital Partners LLC increased its stake in shares of Visa by 8.8% in the first quarter. Lakeview Capital Partners LLC now owns 8,440 shares of the credit-card processor’s stock worth $645,000 after buying an additional 683 shares in the last quarter. Finally, Torray LLC increased its stake in shares of Visa by 31.0% in the first quarter. Torray LLC now owns 810,024 shares of the credit-card processor’s stock worth $61,951,000 after buying an additional 191,594 shares in the last quarter. 80.06% of the stock is currently owned by institutional investors and hedge funds.
Shares of Visa Inc. (NYSE:V) traded down 0.69% during mid-day trading on Tuesday, hitting $81.58. 11,680,407 shares of the company’s stock traded hands. The stock has a market cap of $192.53 billion, a P/E ratio of 34.67 and a beta of 0.95. Visa Inc. has a 1-year low of $66.12 and a 1-year high of $83.79. The stock has a 50 day moving average price of $82.35 and a 200-day moving average price of $79.48.
Visa (NYSE:V) last posted its quarterly earnings results on Thursday, July 21st. The credit-card processor reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. Visa had a net margin of 38.72% and a return on equity of 22.36%. The company had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.67 billion. Equities research analysts anticipate that Visa Inc. will post $2.79 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Friday, November 18th will be given a $0.165 dividend. This is an increase from Visa’s previous quarterly dividend of $0.14. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.81%. Visa’s dividend payout ratio (DPR) is presently 24.35%.
A number of brokerages have recently issued reports on V. Argus restated a “buy” rating and set a $90.00 price target (up previously from $85.00) on shares of Visa in a report on Monday, July 25th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $94.00 target price on shares of Visa in a report on Friday, August 5th. William Blair reiterated an “outperform” rating on shares of Visa in a report on Tuesday, July 19th. Zacks Investment Research upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a report on Tuesday, July 19th. Finally, Sanford C. Bernstein reiterated a “positive” rating and issued a $97.00 target price on shares of Visa in a report on Tuesday, June 21st. Four research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $89.36.
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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