World Asset Management Inc decreased its stake in Visa Inc. (NYSE:V) by 11.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 180,857 shares of the credit-card processor’s stock after selling 24,071 shares during the period. Visa makes up 0.6% of World Asset Management Inc’s investment portfolio, making the stock its 25th largest holding. World Asset Management Inc’s holdings in Visa were worth $16,961,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mercer Capital Advisers Inc. raised 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 worth $104,000 after acquiring an additional 25 shares during the last quarter. Mascoma Wealth Management LLC acquired a new position in Visa during the second quarter worth about $122,000. SpiderRock Advisors LLC raised 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 worth $124,000 after acquiring an additional 19,709 shares during the last quarter. Advantage Investment Management LLC raised 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 worth $130,000 after acquiring an additional 314 shares during the last quarter. Finally, Delta Asset Management LLC TN raised 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 worth $137,000 after acquiring an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 81.69% of the company’s stock.
V has been the subject of a number of research reports. Deutsche Bank AG lifted their target price on shares of Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 10th. Jefferies Group LLC restated a “buy” rating and set a $104.00 target price on shares of Visa in a research report on Sunday, June 25th. UBS AG restated an “overweight” rating on shares of Visa in a research report on Thursday, August 24th. BidaskClub upgraded shares of Visa from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th. Finally, Wells Fargo & Company restated a “market perform” rating and set a $100.00 target price (up previously from $87.50) on shares of Visa in a research report on Saturday, July 22nd. Three analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Visa has an average rating of “Buy” and a consensus target price of $108.76.
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 stock was 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 $1,751,797.60. The sale was disclosed in a filing with the SEC, which is available at 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 shares were sold at an average price of $103.32, for a total value of $1,074,528.00. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
Visa Inc. (V) opened at 106.73 on Monday. Visa Inc. has a 52 week low of $75.17 and a 52 week high of $106.96. The stock has a 50 day moving average of $104.52 and a 200 day moving average of $96.90. The stock has a market capitalization of $244.03 billion, a P/E ratio of 39.69 and a beta of 0.93.
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 consensus estimate of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter last year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, equities research analysts predict that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
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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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