L & S Advisors Inc cut its stake in shares of Visa Inc (NYSE:V) by 2.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,643 shares of the credit-card processor’s stock after selling 1,119 shares during the period. Visa makes up about 1.2% of L & S Advisors Inc’s holdings, making the stock its 11th biggest position. L & S Advisors Inc’s holdings in Visa were worth $9,136,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. raised its position in Visa by 0.6% during the fourth quarter. Advisors Asset Management Inc. now owns 456,714 shares of the credit-card processor’s stock valued at $60,259,000 after buying an additional 2,895 shares during the period. Chesapeake Wealth Management grew its stake in Visa by 4.2% in the fourth quarter. Chesapeake Wealth Management now owns 11,361 shares of the credit-card processor’s stock valued at $1,499,000 after purchasing an additional 463 shares in the last quarter. One Tusk Investment Partners LP purchased a new position in Visa in the fourth quarter valued at about $3,299,000. Enlightenment Research LLC purchased a new position in Visa in the fourth quarter valued at about $1,085,000. Finally, Telemus Capital LLC grew its stake in Visa by 11.1% in the fourth quarter. Telemus Capital LLC now owns 62,954 shares of the credit-card processor’s stock valued at $8,306,000 after purchasing an additional 6,270 shares in the last quarter. 81.20% of the stock is currently owned by institutional investors.
Shares of NYSE:V opened at $176.80 on Friday. The business has a 50 day moving average price of $179.24 and a 200 day moving average price of $167.08. Visa Inc has a twelve month low of $121.60 and a twelve month high of $187.05. The company has a market cap of $349.86 billion, a price-to-earnings ratio of 38.35, a PEG ratio of 1.98 and a beta of 0.97. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.57.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 0.57%. Visa’s payout ratio is 21.69%.
A number of research analysts have commented on V shares. Barclays boosted their target price on Visa from $181.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Wells Fargo & Co upped their price target on Visa from $181.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 10th. UBS Group upped their price target on Visa from $183.00 to $187.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. KeyCorp upped their price target on Visa from $190.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Bank of America upped their price target on Visa from $177.00 to $192.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Three analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Visa has a consensus rating of “Buy” and an average price target of $196.57.
In other news, Director Denise M. Morrison purchased 1,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average price of $171.13 per share, with a total value of $171,130.00. Following the acquisition, the director now directly owns 3,223 shares in the company, valued at approximately $551,551.99. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lloyd Carney sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $182.73, for a total value of $639,555.00. Following the completion of the transaction, the director now directly owns 3,452 shares of the company’s stock, valued at approximately $630,783.96. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.
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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