Grand Jean Capital Management Inc. lowered its position in Visa Inc (NYSE:V) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,616 shares of the credit-card processor’s stock after selling 2,766 shares during the quarter. Visa makes up approximately 6.9% of Grand Jean Capital Management Inc.’s portfolio, making the stock its 4th biggest position. Grand Jean Capital Management Inc.’s holdings in Visa were worth $17,115,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of V. Asset Dedication LLC increased its holdings in shares of Visa by 4.2% in the second quarter. Asset Dedication LLC now owns 16,109 shares of the credit-card processor’s stock valued at $2,799,000 after purchasing an additional 647 shares during the period. Laurel Wealth Advisors Inc. increased its holdings in shares of Visa by 12.0% in 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. Doliver Advisors LP increased its holdings in shares of Visa by 16.8% in the second quarter. Doliver Advisors LP now owns 14,848 shares of the credit-card processor’s stock valued at $2,577,000 after purchasing an additional 2,134 shares during the period. Investec Asset Management LTD increased its holdings in shares of Visa by 6.6% in the second quarter. Investec Asset Management LTD now owns 4,900,087 shares of the credit-card processor’s stock valued at $850,410,000 after purchasing an additional 305,148 shares during the period. Finally, Commerce Bank increased its holdings in shares of Visa by 1.9% in the second quarter. Commerce Bank now owns 613,768 shares of the credit-card processor’s stock valued at $106,519,000 after purchasing an additional 11,541 shares during the period. Institutional investors own 81.20% of the company’s stock.
Visa stock traded down $0.26 during trading hours on Friday, hitting $177.72. The stock had a trading volume of 1,543,464 shares, compared to its average volume of 5,973,028. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.69. The stock has a market capitalization of $349.86 billion, a price-to-earnings ratio of 38.55, a PEG ratio of 1.98 and a beta of 0.97. Visa Inc has a 1-year low of $121.60 and a 1-year high of $187.05. The stock’s fifty day moving average is $179.24 and its two-hundred day moving average is $167.08.
Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.04. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.70 billion. Visa had a return on equity of 41.04% and a net margin of 53.43%. Visa’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 earnings per share. As a group, sell-side analysts anticipate that Visa Inc will post 5.4 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.56%. The ex-dividend date was Thursday, August 15th. Visa’s dividend payout ratio (DPR) is 21.69%.
In other news, insider Vasant M. Prabhu sold 25,051 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.14, for a total value of $4,537,738.14. Following the sale, the insider now directly owns 62,223 shares in the company, valued at $11,271,074.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Denise M. Morrison acquired 1,000 shares of Visa stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $171.13 per share, for a total transaction of $171,130.00. Following the completion of the transaction, the director now directly owns 3,223 shares of the company’s stock, valued at $551,551.99. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by corporate insiders.
V has been the topic of a number of recent research reports. UBS Group boosted their target price on Visa from $183.00 to $187.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Goldman Sachs Group reissued a “buy” rating and issued a $202.00 target price on shares of Visa in a report on Wednesday, July 24th. Credit Suisse Group boosted their target price on Visa from $200.00 to $203.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Barclays boosted their target price on Visa from $181.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, SunTrust Banks boosted their target price on Visa to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $196.57.
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.
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