Rainier Investment Management LLC Sells 22,948 Shares of Visa Inc. (V)
Rainier Investment Management LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 6.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 309,794 shares of the credit-card processor’s stock after selling 22,948 shares during the period. Visa makes up 1.1% of Rainier Investment Management LLC’s holdings, making the stock its 12th largest position. Rainier Investment Management LLC’s holdings in Visa were worth $22,976,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Ngam Advisors L.P. boosted its stake in shares of Visa by 7.4% in the second quarter. Ngam Advisors L.P. now owns 1,131,493 shares of the credit-card processor’s stock valued at $83,923,000 after buying an additional 78,447 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in Visa by 6.9% in the first quarter. Loomis Sayles & Co. L P now owns 12,349,933 shares of the credit-card processor’s stock valued at $944,523,000 after buying an additional 793,813 shares during the period. Comgest Global Investors S.A.S. boosted its stake in Visa by 6.3% in the second quarter. Comgest Global Investors S.A.S. now owns 852,100 shares of the credit-card processor’s stock valued at $63,200,000 after buying an additional 50,600 shares during the period. Calamos Advisors LLC boosted its stake in Visa by 66.0% in the second quarter. Calamos Advisors LLC now owns 1,519,314 shares of the credit-card processor’s stock valued at $112,688,000 after buying an additional 604,051 shares during the period. Finally, Strs Ohio boosted its stake in Visa by 4.1% in the second quarter. Strs Ohio now owns 2,663,883 shares of the credit-card processor’s stock valued at $197,580,000 after buying an additional 104,300 shares during the period. Hedge funds and other institutional investors own 80.10% of the company’s stock.
Shares of Visa Inc. (NYSE:V) traded up 0.01% during midday trading on Friday, reaching $81.88. The company’s stock had a trading volume of 7,367,994 shares. Visa Inc. has a 52 week low of $66.12 and a 52 week high of $83.96. The company has a 50 day moving average price of $82.27 and a 200-day moving average price of $79.85. The stock has a market capitalization of $191.83 billion, a PE ratio of 32.02 and a beta of 1.00.
Visa (NYSE:V) last posted its earnings results on Monday, October 24th. The credit-card processor reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.05. Visa had a net margin of 39.72% and a return on equity of 24.31%. The business had revenue of $4.26 billion for the quarter. During the same period in the previous year, the company earned $0.62 earnings per share. The company’s revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts expect that Visa Inc. will post $3.29 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Friday, November 18th will be paid a dividend of $0.165 per share. This is a positive change from Visa’s previous quarterly dividend of $0.14. This represents a $0.66 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Wednesday, November 16th. Visa’s dividend payout ratio is presently 22.67%.
Several equities research analysts have weighed in on the company. Vetr cut Visa from a “buy” rating to a “hold” rating and set a $84.90 price objective for the company. in a report on Monday, November 7th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $90.00 price objective on shares of Visa in a report on Thursday, October 27th. RBC Capital Markets reiterated an “outperform” rating and issued a $89.00 price objective (up previously from $87.00) on shares of Visa in a report on Wednesday, October 26th. Royal Bank Of Canada increased their price objective on Visa from $87.00 to $89.00 and gave the stock an “outperform” rating in a report on Tuesday, October 25th. Finally, Stifel Nicolaus dropped their price objective on Visa from $94.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, October 25th. Seven equities research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $90.85.
In other news, President Ryan Mcinerney sold 18,500 shares of the stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $82.92, for a total transaction of $1,534,020.00. Following the sale, the president now directly owns 12,548 shares of the company’s stock, valued at approximately $1,040,480.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Charles W. Scharf sold 772,912 shares of the stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $82.65, for a total transaction of $63,881,176.80. Following the sale, the insider now directly owns 852,880 shares in the company, valued at $70,490,532. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.
Visa Inc is a payments technology company. The Company is engaged in operating a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions across the world. The Company provides its services to consumers, businesses, financial institutions and governments in more than 200 countries and territories for electronic payments.
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