Comprehensive Financial Consultants Institutional Inc. trimmed its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 10.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,034 shares of the credit-card processor's stock after selling 791 shares during the period. Comprehensive Financial Consultants Institutional Inc.'s holdings in Visa were worth $2,497,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Visa by 1.1% in the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after purchasing an additional 1,677,088 shares during the last quarter. Northern Trust Corp raised its stake in shares of Visa by 4.0% during the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock valued at $6,654,189,000 after acquiring an additional 726,299 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock worth $5,003,569,000 after buying an additional 955,392 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Visa by 3.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor's stock worth $4,442,157,000 after purchasing an additional 434,217 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock valued at $3,847,953,000 after acquiring an additional 1,651,954 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
V has been the subject of several recent research reports. Oppenheimer lifted their target price on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Weiss Ratings reissued a "buy (b)" rating on shares of Visa in a research report on Wednesday. Barclays restated an "overweight" rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Finally, Erste Group Bank downgraded Visa from a "buy" rating to a "hold" rating in a research note on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $389.00.
Check Out Our Latest Stock Report on Visa
Visa Price Performance
Shares of Visa stock opened at $346.66 on Friday. Visa Inc. has a one year low of $275.35 and a one year high of $375.51. The stock's fifty day moving average is $343.68 and its 200 day moving average is $346.98. The stock has a market cap of $635.36 billion, a P/E ratio of 33.85, a P/E/G ratio of 2.08 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.42 earnings per share. Sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's dividend payout ratio (DPR) is presently 23.05%.
Insider Buying and Selling at Visa
In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares of the company's stock, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the company's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.
Visa Company Profile
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Free Report)
Visa Inc operates as a payment technology company in the United States and internationally. 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, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; 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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