Personal Capital Advisors Corp increased its holdings in Visa Inc. (NYSE:V) by 351.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,914 shares of the credit-card processor’s stock after purchasing an additional 36,513 shares during the period. Personal Capital Advisors Corp’s holdings in Visa were worth $4,400,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Mercer Capital Advisers Inc. grew its position in Visa by 2.2% during the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock valued at $104,000 after acquiring an additional 25 shares during the period. Mascoma Wealth Management LLC purchased a new stake in Visa during the second quarter valued at about $122,000. SpiderRock Advisors LLC grew its position in Visa by 107.1% during the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock valued at $124,000 after acquiring an additional 19,709 shares during the period. Advantage Investment Management LLC grew its position in Visa by 27.4% during the first quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock valued at $130,000 after acquiring an additional 314 shares during the period. Finally, Delta Asset Management LLC TN grew its position in Visa by 2.5% during the first quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock valued at $137,000 after acquiring an additional 38 shares during the period. 81.74% of the stock is owned by institutional investors and hedge funds.
In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the transaction, the executive vice president now owns 17,360 shares in the company, valued at approximately $1,751,797.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mary B. Cranston sold 10,400 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total transaction of $1,074,528.00. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
Shares of Visa Inc. (NYSE:V) traded down 0.74% during trading on Friday, reaching $105.30. The company had a trading volume of 12,622,921 shares. Visa Inc. has a 12-month low of $75.17 and a 12-month high of $106.84. The firm has a 50-day moving average of $102.82 and a 200-day moving average of $95.21. The company has a market cap of $240.76 billion, a P/E ratio of 39.16 and a beta of 0.94.
Visa (NYSE:V) last announced its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 30.95%. The business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the prior year, the business earned $0.69 EPS. Visa’s quarterly revenue was up 25.8% on a year-over-year basis. On average, equities research analysts anticipate that Visa Inc. will post $3.43 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th were given a dividend of $0.165 per share. The ex-dividend date was Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.63%. Visa’s payout ratio is presently 24.54%.
A number of research firms have issued reports on V. Vetr raised Visa from a “hold” rating to a “buy” rating and set a $100.12 price target for the company in a research report on Tuesday, June 27th. Instinet upped their target price on Visa from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $100.00 target price (up previously from $87.50) on shares of Visa in a research report on Saturday, July 22nd. Citigroup Inc. reaffirmed a “buy” rating and issued a $115.00 target price (up previously from $100.00) on shares of Visa in a research report on Monday, July 24th. Finally, Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Four equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $105.35.
Visa Company Profile
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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