Villere ST Denis J & Co. LLC lowered its stake in shares of Visa Inc (NYSE:V) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 503,398 shares of the credit-card processor’s stock after selling 3,304 shares during the period. Visa accounts for about 5.4% of Villere ST Denis J & Co. LLC’s investment portfolio, making the stock its 3rd largest position. Villere ST Denis J & Co. LLC’s holdings in Visa were worth $87,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. Laurel Wealth Advisors Inc. boosted its stake in shares of Visa by 12.0% during the first quarter. Laurel Wealth Advisors Inc. now owns 7,181 shares of the credit-card processor’s stock valued at $1,122,000 after purchasing an additional 767 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Visa by 18.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 406,519 shares of the credit-card processor’s stock worth $63,494,000 after purchasing an additional 62,736 shares in the last quarter. Commonwealth Bank of Australia raised its holdings in Visa by 6.9% in the fourth quarter. Commonwealth Bank of Australia now owns 94,679 shares of the credit-card processor’s stock worth $12,488,000 after purchasing an additional 6,088 shares in the last quarter. WINTON GROUP Ltd increased its holdings in shares of Visa by 0.7% during the fourth quarter. WINTON GROUP Ltd now owns 14,060 shares of the credit-card processor’s stock valued at $1,855,000 after acquiring an additional 98 shares in the last quarter. Finally, Investec Asset Management LTD increased its holdings in Visa by 6.6% in the 2nd quarter. Investec Asset Management LTD now owns 4,900,087 shares of the credit-card processor’s stock worth $850,410,000 after buying an additional 305,148 shares during the period. Hedge funds and other institutional investors own 81.63% of the company’s stock.
Shares of V traded down $3.68 during midday trading on Wednesday, reaching $174.93. The company had a trading volume of 1,703,761 shares, compared to its average volume of 7,765,283. Visa Inc has a 1-year low of $121.60 and a 1-year high of $184.07. The company has a market capitalization of $355.22 billion, a PE ratio of 37.95, a PEG ratio of 2.00 and a beta of 0.96. The business has a 50 day simple moving average of $177.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.69 and a current ratio of 1.69.
Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.04. Visa had a return on equity of 41.04% and a net margin of 53.43%. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period last year, the company earned $1.20 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, sell-side analysts predict that Visa Inc will post 5.4 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 15th. Visa’s dividend payout ratio (DPR) is presently 21.69%.
A number of research analysts have recently issued reports on the company. Oppenheimer increased their target price on Visa from $162.00 to $176.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. BMO Capital Markets increased their target price on Visa to $214.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Bank of America increased their target price on Visa from $177.00 to $192.00 and gave the company a “buy” rating in a research report on Monday, June 17th. JPMorgan Chase & Co. increased their target price on Visa from $166.00 to $182.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Deutsche Bank increased their target price on Visa from $177.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $195.46.
In related news, Director Denise M. Morrison bought 1,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average cost of $171.13 per share, with a total value of $171,130.00. Following the purchase, the director now directly owns 3,223 shares of the company’s stock, valued at $551,551.99. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lloyd Carney sold 3,500 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $182.73, for a total value of $639,555.00. Following the completion of the sale, the director now directly owns 3,452 shares of the company’s stock, valued at $630,783.96. The disclosure for this sale can be found here. 0.17% of the stock is owned by company insiders.
Visa Company Profile
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: What is a conference call?
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).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.