Drexel Morgan & Co. cut its holdings in Visa Inc. (NYSE:V) by 27.2% during the second quarter, HoldingsChannel reports. The firm owned 1,340 shares of the credit-card processor’s stock after selling 500 shares during the period. Drexel Morgan & Co.’s holdings in Visa were worth $313,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in V. Oregon Public Employees Retirement Fund grew its position in Visa by 3.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 367,892 shares of the credit-card processor’s stock valued at $86,021,000 after buying an additional 13,120 shares during the last quarter. Greenleaf Trust increased its stake in shares of Visa by 2.1% during the second quarter. Greenleaf Trust now owns 210,478 shares of the credit-card processor’s stock worth $49,214,000 after acquiring an additional 4,292 shares during the period. Heritage Wealth Advisors lifted its position in Visa by 66.1% in the second quarter. Heritage Wealth Advisors now owns 50,010 shares of the credit-card processor’s stock valued at $10,939,000 after purchasing an additional 19,910 shares during the period. WT Wealth Management lifted its holdings in shares of Visa by 8.7% in the 2nd quarter. WT Wealth Management now owns 10,950 shares of the credit-card processor’s stock valued at $2,560,000 after buying an additional 879 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Visa by 8.8% in the first quarter. Janus Henderson Group PLC now owns 8,673,916 shares of the credit-card processor’s stock valued at $1,837,698,000 after purchasing an additional 698,028 shares during the period. 81.04% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on the company. Wedbush upped their target price on Visa from $250.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, July 28th. Citigroup lifted their target price on shares of Visa from $283.00 to $288.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Wells Fargo & Company upped their target price on Visa from $265.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, July 28th. Daiwa Capital Markets downgraded Visa from an “outperform” rating to a “neutral” rating and set a $250.00 price target for the company. in a research report on Thursday, August 12th. Finally, Truist Securities lifted their price objective on Visa from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. One investment analyst has rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Visa has an average rating of “Buy” and an average target price of $271.52.
Shares of V traded down $3.23 during trading hours on Tuesday, reaching $226.37. The company’s stock had a trading volume of 111,911 shares, compared to its average volume of 8,203,271. The company has a 50 day moving average of $233.32 and a two-hundred day moving average of $229.93. The firm has a market cap of $440.96 billion, a price-to-earnings ratio of 46.38, a P/E/G ratio of 2.00 and a beta of 0.98. Visa Inc. has a 1-year low of $179.23 and a 1-year high of $252.67. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.61.
Visa (NYSE:V) last issued its earnings results on Tuesday, July 27th. The credit-card processor reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.16. The company had revenue of $6.13 billion for the quarter, compared to analyst estimates of $5.86 billion. Visa had a return on equity of 35.45% and a net margin of 47.97%. The business’s revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 EPS. As a group, analysts forecast that Visa Inc. will post 5.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Friday, August 13th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Thursday, August 12th. Visa’s payout ratio is 25.40%.
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.
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