Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 10,211 Shares of Visa Inc. $V

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its holdings in shares of Visa Inc. (NYSE:V) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 559,462 shares of the credit-card processor’s stock after selling 10,211 shares during the period. Visa comprises approximately 1.8% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings, making the stock its 20th largest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Visa were worth $198,637,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of V. Brighton Jones LLC grew its stake in shares of Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after acquiring an additional 6,883 shares during the period. Revolve Wealth Partners LLC lifted its holdings in Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after purchasing an additional 4,817 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Visa by 9.9% during the first quarter. GAMMA Investing LLC now owns 42,120 shares of the credit-card processor’s stock valued at $14,761,000 after purchasing an additional 3,795 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its position in shares of Visa by 9.1% in the first quarter. Creative Financial Designs Inc. ADV now owns 1,720 shares of the credit-card processor’s stock worth $603,000 after purchasing an additional 144 shares during the period. Finally, KPP Advisory Services LLC increased its stake in shares of Visa by 4.5% in the first quarter. KPP Advisory Services LLC now owns 4,483 shares of the credit-card processor’s stock worth $1,571,000 after purchasing an additional 195 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Performance

Shares of NYSE:V opened at $347.34 on Friday. The firm has a fifty day simple moving average of $344.79 and a two-hundred day simple moving average of $347.87. Visa Inc. has a 52 week low of $280.78 and a 52 week high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $636.60 billion, a P/E ratio of 33.92, a PEG ratio of 2.05 and a beta of 0.90.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter last year, the firm earned $2.42 EPS. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s payout ratio is currently 23.05%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on V. Morgan Stanley lifted their target price on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Barclays reiterated an “overweight” rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. KeyCorp reissued an “overweight” rating and issued a $405.00 price target on shares of Visa in a report on Wednesday. Oppenheimer increased their price objective on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Finally, Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a report on Wednesday. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $392.75.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.