Gallacher Capital Management LLC trimmed its position in shares of Visa Inc. (NYSE:V - Free Report) by 65.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 749 shares of the credit-card processor's stock after selling 1,432 shares during the quarter. Gallacher Capital Management LLC's holdings in Visa were worth $266,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in V. GAMMA Investing LLC raised its position in shares of Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after acquiring an additional 14,723,050 shares during the period. Nuveen LLC acquired a new stake in shares of Visa during the 1st quarter valued at about $3,518,533,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Visa in the 4th quarter valued at about $673,689,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Visa by 14.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,321,754 shares of the credit-card processor's stock worth $4,210,207,000 after purchasing an additional 1,723,785 shares during the period. Finally, Vanguard Group Inc. boosted its position in Visa by 1.1% during 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 in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.
Visa Stock Performance
NYSE:V opened at $338.96 on Tuesday. The company has a market cap of $621.24 billion, a P/E ratio of 33.10, a P/E/G ratio of 2.26 and a beta of 0.92. Visa Inc. has a twelve month low of $268.23 and a twelve month high of $375.51. The company's 50-day moving average price is $346.67 and its 200-day moving average price is $346.69. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.
Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.42 EPS. On average, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
Visa Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa's dividend payout ratio (DPR) is presently 23.05%.
Analyst Ratings Changes
A number of analysts have recently commented on V shares. Morgan Stanley boosted their price objective on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Barclays reissued an "overweight" rating and issued a $408.00 price target (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Jefferies Financial Group increased their price objective on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. UBS Group reissued a "buy" rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group began coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "neutral" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.
Check Out Our Latest Research Report on V
Visa Company Profile
(
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.
Further Reading
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Visa, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Visa wasn't on the list.
While Visa currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
