Greenfield Savings Bank reduced its stake in shares of Visa Inc. (NYSE:V – Free Report) by 6.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,496 shares of the credit-card processor’s stock after selling 304 shares during the quarter. Greenfield Savings Bank’s holdings in Visa were worth $1,068,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of V. Moneta Group Investment Advisors LLC grew its stake in shares of Visa by 116,608.6% in 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 purchasing an additional 24,483,134 shares during the last quarter. Norges Bank bought a new stake in shares of Visa in the fourth quarter worth about $3,067,232,000. Morgan Stanley grew its stake in shares of Visa by 13.0% in the fourth quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock worth $10,621,287,000 after purchasing an additional 5,864,340 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Visa by 130.4% in 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 purchasing an additional 3,986,135 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Visa by 3.7% in the first quarter. State Street Corp now owns 72,897,112 shares of the credit-card processor’s stock worth $16,435,339,000 after purchasing an additional 2,572,159 shares during the last quarter. 81.35% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have commented on V. Jefferies Financial Group raised their price objective on shares of Visa from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, July 19th. Raymond James lifted their target price on shares of Visa from $282.00 to $284.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 26th. Citigroup boosted their price objective on shares of Visa from $273.00 to $275.00 in a research report on Wednesday, July 26th. Robert W. Baird reissued an “outperform” rating and set a $284.00 price objective on shares of Visa in a research report on Thursday. Finally, Barclays boosted their price objective on shares of Visa from $272.00 to $287.00 and gave the company an “overweight” rating in a research report on Monday, July 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average price target of $273.77.
In other news, insider Rajat Taneja sold 2,300 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total transaction of $552,000.00. Following the transaction, the insider now directly owns 232,112 shares in the company, valued at $55,706,880. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Rajat Taneja sold 2,300 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total transaction of $552,000.00. Following the completion of the sale, the insider now owns 232,112 shares of the company’s stock, valued at $55,706,880. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 425 shares of the stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $240.00, for a total transaction of $102,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,550 shares of company stock worth $19,795,806. Corporate insiders own 0.22% of the company’s stock.
Visa Stock Performance
Shares of NYSE:V opened at $241.00 on Friday. The company has a market capitalization of $448.70 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 1.81 and a beta of 0.95. Visa Inc. has a 12 month low of $174.60 and a 12 month high of $250.06. The firm’s 50-day moving average is $241.58 and its 200 day moving average is $232.04. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55.
Visa (NYSE:V – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 EPS for the quarter, beating the consensus estimate of $2.11 by $0.05. The company had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $8.06 billion. Visa had a net margin of 51.94% and a return on equity of 49.42%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.98 EPS. Research analysts predict that Visa Inc. will post 8.65 EPS for the current year.
Visa Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio is presently 22.84%.
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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