L & S Advisors Inc trimmed its position in Visa Inc (NYSE:V) by 2.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 52,643 shares of the credit-card processor’s stock after selling 1,119 shares during the period. Visa comprises approximately 1.2% of L & S Advisors Inc’s holdings, making the stock its 11th largest holding. L & S Advisors Inc’s holdings in Visa were worth $9,136,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Asset Dedication LLC raised its stake in Visa by 4.2% during the 2nd quarter. Asset Dedication LLC now owns 16,109 shares of the credit-card processor’s stock worth $2,799,000 after buying an additional 647 shares during the period. Laurel Wealth Advisors Inc. increased its position 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 acquiring an additional 767 shares during the last quarter. Doliver Advisors LP increased its position 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 acquiring an additional 2,134 shares during the last quarter. Investec Asset Management LTD increased its position 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 acquiring an additional 305,148 shares during the last quarter. Finally, Commerce Bank increased its position 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 acquiring an additional 11,541 shares during the last quarter. Hedge funds and other institutional investors own 81.20% of the company’s stock.
Visa stock opened at $176.80 on Friday. Visa Inc has a 52 week low of $121.60 and a 52 week high of $187.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.69 and a current ratio of 1.69. The stock has a market capitalization of $349.86 billion, a P/E ratio of 38.35, a PEG ratio of 1.98 and a beta of 0.97. The stock has a 50-day simple moving average of $179.24 and a 200 day simple moving average of $167.08.
Visa (NYSE:V) last issued its quarterly earnings data 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 company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. The business’s revenue was up 11.5% on a year-over-year basis. Research analysts forecast that Visa Inc will post 5.4 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Thursday, August 15th. Visa’s dividend payout ratio is presently 21.69%.
A number of research firms recently issued reports on V. Guggenheim lifted their target price on Visa from $178.00 to $190.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted 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. UBS Group lifted their target price on Visa from $183.00 to $187.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Piper Jaffray Companies set a $207.00 target price on Visa and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Bank of America lifted their price target on Visa from $177.00 to $192.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Three research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $196.57.
In other news, 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 acquisition, the director now directly owns 3,223 shares in the company, valued at approximately $551,551.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Vasant M. Prabhu sold 25,051 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.14, for a total value of $4,537,738.14. Following the completion of the sale, the insider now owns 62,223 shares of the company’s stock, valued at $11,271,074.22. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.
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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