LSV Asset Management cut its stake in Visa Inc (NYSE:V) by 5.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,400 shares of the credit-card processor’s stock after selling 900 shares during the period. LSV Asset Management’s holdings in Visa were worth $2,499,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Asset Dedication LLC increased its position in shares of Visa by 4.2% during the second quarter. Asset Dedication LLC now owns 16,109 shares of the credit-card processor’s stock worth $2,799,000 after purchasing an additional 647 shares in the last quarter. Laurel Wealth Advisors Inc. increased its position in Visa by 12.0% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 7,181 shares of the credit-card processor’s stock valued at $1,122,000 after acquiring an additional 767 shares during the period. Doliver Advisors LP increased its position in Visa by 16.8% in the 2nd quarter. Doliver Advisors LP now owns 14,848 shares of the credit-card processor’s stock valued at $2,577,000 after acquiring an additional 2,134 shares during the period. Investec Asset Management LTD increased its position in Visa by 6.6% in the 2nd quarter. Investec Asset Management LTD now owns 4,900,087 shares of the credit-card processor’s stock valued at $850,410,000 after acquiring an additional 305,148 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in Visa by 18.2% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 406,519 shares of the credit-card processor’s stock valued at $63,494,000 after acquiring an additional 62,736 shares during the period. 81.14% of the stock is owned by institutional investors.
V has been the topic of several recent research reports. Piper Jaffray Companies set a $207.00 price target on Visa and gave the company a “buy” rating in a research report on Wednesday, July 24th. SunTrust Banks boosted their price target on Visa to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Deutsche Bank boosted their price target on Visa from $177.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Raymond James boosted their price target on Visa from $177.00 to $193.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating and set a $180.00 price target on the stock. in a research report on Saturday, June 15th. Two investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $195.46.
Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.04. Visa had a return on equity of 41.04% and a net margin of 53.43%. The company had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the previous year, the firm posted $1.20 EPS. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. On average, research analysts predict that Visa Inc will post 5.4 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Thursday, August 15th. Visa’s payout ratio is 21.69%.
In other news, Director Denise M. Morrison purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average price of $171.13 per share, with a total value of $171,130.00. Following the purchase, the director now directly owns 3,223 shares of the company’s stock, valued at $551,551.99. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Lloyd Carney sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $182.73, for a total value of $639,555.00. Following the sale, the director now directly owns 3,452 shares in the company, valued at approximately $630,783.96. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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