Visa Inc (V) Shares Sold by Pitcairn Co.

Pitcairn Co. trimmed its holdings in Visa Inc (NYSE:V) by 3.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,481 shares of the credit-card processor’s stock after selling 2,530 shares during the period. Visa makes up 1.0% of Pitcairn Co.’s investment portfolio, making the stock its 8th biggest holding. Pitcairn Co.’s holdings in Visa were worth $9,335,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Alps Advisors Inc. grew its position in shares of Visa by 97.6% during the 2nd quarter. Alps Advisors Inc. now owns 5,200 shares of the credit-card processor’s stock valued at $689,000 after purchasing an additional 2,568 shares in the last quarter. Adviser Investments LLC grew its position in shares of Visa by 2.8% during the 2nd quarter. Adviser Investments LLC now owns 45,287 shares of the credit-card processor’s stock valued at $5,998,000 after purchasing an additional 1,228 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Visa by 1.4% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 2,611,432 shares of the credit-card processor’s stock valued at $345,884,000 after purchasing an additional 37,070 shares in the last quarter. 1ST Source Bank grew its position in shares of Visa by 8.8% during the 2nd quarter. 1ST Source Bank now owns 18,099 shares of the credit-card processor’s stock valued at $2,397,000 after purchasing an additional 1,468 shares in the last quarter. Finally, Sigma Planning Corp grew its position in shares of Visa by 24.4% during the 2nd quarter. Sigma Planning Corp now owns 34,288 shares of the credit-card processor’s stock valued at $4,542,000 after purchasing an additional 6,718 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

In other Visa news, CFO Vasant M. Prabhu sold 25,064 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $140.56, for a total value of $3,522,995.84. Following the completion of the sale, the chief financial officer now directly owns 58,232 shares of the company’s stock, valued at $8,185,089.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James H. Hoffmeister sold 6,912 shares of the business’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $140.01, for a total transaction of $967,749.12. Following the completion of the sale, the senior vice president now directly owns 6,912 shares of the company’s stock, valued at $967,749.12. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

V has been the subject of a number of recent analyst reports. Morgan Stanley boosted their price target on shares of Visa from $142.00 to $165.00 and gave the company a “$140.13” rating in a research report on Thursday, July 19th. SunTrust Banks boosted their price target on shares of Visa to $170.00 and gave the company a “buy” rating in a research report on Thursday, July 26th. They noted that the move was a valuation call. Loop Capital boosted their price target on shares of Visa to $157.00 and gave the company a “buy” rating in a research report on Thursday, July 26th. They noted that the move was a valuation call. Buckingham Research boosted their price target on shares of Visa from $152.00 to $169.00 and gave the company a “buy” rating in a research report on Tuesday, June 26th. Finally, Bank of America boosted their price target on shares of Visa from $146.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, July 17th. Three equities research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $150.75.

Visa stock opened at $150.05 on Monday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $305.24 billion, a price-to-earnings ratio of 43.12, a price-to-earnings-growth ratio of 1.86 and a beta of 1.09. Visa Inc has a twelve month low of $102.75 and a twelve month high of $150.26.

Visa (NYSE:V) last posted its quarterly earnings results on Wednesday, July 25th. The credit-card processor reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.11. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.09 billion. Visa had a net margin of 47.91% and a return on equity of 36.09%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 earnings per share. equities analysts anticipate that Visa Inc will post 4.61 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Friday, August 17th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.56%. The ex-dividend date was Thursday, August 16th. Visa’s dividend payout ratio is presently 24.14%.

About Visa

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

Further Reading: Dividend Aristocrat Index

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Institutional Ownership by Quarter for Visa (NYSE:V)

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