Kayne Anderson Rudnick Investment Management LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 459,263 shares of the credit-card processor’s stock after selling 8,547 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Visa were worth $43,069,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Clearbridge Investments LLC lifted its position in Visa by 41.4% during the 1st quarter. Clearbridge Investments LLC now owns 9,145,672 shares of the credit-card processor’s stock valued at $812,776,000 after purchasing an additional 2,677,533 shares during the period. Harbour Capital Advisors LLC lifted its position in Visa by 10,570.6% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,598,668 shares of the credit-card processor’s stock valued at $17,047,000 after purchasing an additional 1,583,686 shares during the period. Swiss National Bank lifted its position in Visa by 23.2% during the 1st quarter. Swiss National Bank now owns 7,360,428 shares of the credit-card processor’s stock valued at $654,121,000 after purchasing an additional 1,388,200 shares during the period. Akre Capital Management LLC lifted its position in Visa by 35.0% during the 1st quarter. Akre Capital Management LLC now owns 4,889,020 shares of the credit-card processor’s stock valued at $434,487,000 after purchasing an additional 1,267,080 shares during the period. Finally, Karp Capital Management Corp lifted its position in Visa by 3,256.5% during the 1st quarter. Karp Capital Management Corp now owns 970,495 shares of the credit-card processor’s stock valued at $86,248,000 after purchasing an additional 941,581 shares during the period. 82.09% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Visa Inc. (NYSE:V) traded up $1.13 during mid-day trading on Friday, reaching $111.97. 3,050,000 shares of the company’s stock traded hands, compared to its average volume of 5,440,807. The company has a quick ratio of 1.65, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. The firm has a market cap of $232,449.72, a P/E ratio of 32.18, a P/E/G ratio of 1.64 and a beta of 0.97. Visa Inc. has a 52-week low of $75.17 and a 52-week high of $112.90.
Visa (NYSE:V) last announced its earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 EPS for the quarter, topping the consensus estimate of $0.85 by $0.05. The firm had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.63 billion. Visa had a net margin of 36.49% and a return on equity of 31.80%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the company posted $0.78 EPS. sell-side analysts forecast that Visa Inc. will post 4.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Friday, November 17th will be issued a dividend of $0.195 per share. This is an increase from Visa’s previous quarterly dividend of $0.17. This represents a $0.78 annualized dividend and a yield of 0.70%. The ex-dividend date is Thursday, November 16th. Visa’s dividend payout ratio (DPR) is 27.86%.
A number of research analysts have issued reports on the stock. BidaskClub downgraded shares of Visa from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Jefferies Group LLC reiterated a “buy” rating and issued a $125.00 price target (up from $112.00) on shares of Visa in a research report on Tuesday, October 17th. Robert W. Baird reiterated an “outperform” rating and issued a $128.00 price target (up from $122.00) on shares of Visa in a research report on Monday, October 2nd. Morgan Stanley increased their price target on shares of Visa from $125.00 to $126.00 and gave the company an “overweight” rating in a research report on Thursday, October 26th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $120.00 price target on shares of Visa in a research report on Wednesday, October 25th. Three equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $116.08.
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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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