Nelson Capital Management LLC decreased its stake in Visa Inc. (NYSE:V – Free Report) by 1.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 25,867 shares of the credit-card processor’s stock after selling 431 shares during the quarter. Visa makes up about 1.6% of Nelson Capital Management LLC’s investment portfolio, making the stock its 16th biggest position. Nelson Capital Management LLC’s holdings in Visa were worth $6,143,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in V. Bank Julius Baer & Co. Ltd Zurich lifted its stake in 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 purchasing an additional 1,996,779,546 shares during the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of 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 valued at $5,090,978,000 after acquiring an additional 24,483,134 shares during the last quarter. Norges Bank bought a new position in shares of Visa during the fourth quarter valued at $3,067,232,000. Morgan Stanley raised its stake in shares of Visa by 13.0% during the fourth quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock valued at $10,621,287,000 after acquiring an additional 5,864,340 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of 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 valued at $680,069,000 after acquiring an additional 3,986,135 shares during the last quarter. Institutional investors own 81.35% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on V shares. Credit Suisse Group raised their price target on shares of Visa from $265.00 to $275.00 in a research note on Wednesday, July 26th. Raymond James raised their price target on shares of Visa from $284.00 to $287.00 and gave the company an “outperform” rating in a research note on Wednesday, October 25th. Wedbush reaffirmed an “outperform” rating and set a $270.00 price target on shares of Visa in a research note on Wednesday, October 25th. Mizuho raised their price target on shares of Visa from $240.00 to $243.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. Finally, HSBC initiated coverage on shares of Visa in a research report on Friday, October 13th. They set a “hold” rating and a $266.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $275.67.
Visa Stock Up 0.4 %
Shares of NYSE V traded up $0.99 during mid-day trading on Friday, reaching $249.56. 7,238,324 shares of the company’s stock traded hands, compared to its average volume of 6,417,070. The stock has a market cap of $464.64 billion, a P/E ratio of 30.10, a PEG ratio of 1.66 and a beta of 0.95. The business has a 50-day simple moving average of $238.42 and a 200 day simple moving average of $236.19. Visa Inc. has a 1-year low of $202.13 and a 1-year high of $250.24. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.45 and a quick ratio of 1.49.
Visa (NYSE:V – Get Free Report) last issued its quarterly earnings data on Tuesday, October 24th. The credit-card processor reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.10. The firm had revenue of $8.61 billion during the quarter, compared to analysts’ expectations of $8.56 billion. Visa had a net margin of 52.90% and a return on equity of 50.13%. The business’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the company earned $1.93 earnings per share. On average, analysts expect that Visa Inc. will post 9.9 EPS for the current fiscal year.
Visa Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 9th will be issued a dividend of $0.52 per share. This is a boost from Visa’s previous quarterly dividend of $0.45. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Wednesday, November 8th. Visa’s dividend payout ratio (DPR) is currently 25.09%.
In related news, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $247.47, for a total transaction of $2,016,880.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $247.47, for a total transaction of $2,016,880.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Rajat Taneja sold 15,800 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $250.01, for a total transaction of $3,950,158.00. Following the transaction, the insider now directly owns 232,112 shares in the company, valued at $58,030,321.12. The disclosure for this sale can be found here. Insiders sold 72,100 shares of company stock worth $17,368,639 over the last three months. 0.22% of the stock is currently owned by insiders.
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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