Victory Capital Management Inc. Sells 178,862 Shares of Visa Inc. (V)
Victory Capital Management Inc. trimmed its position in Visa Inc. (NYSE:V) by 14.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,084,941 shares of the credit-card processor’s stock after selling 178,862 shares during the period. Victory Capital Management Inc.’s holdings in Visa were worth $101,746,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Wallington Asset Management LLC raised its holdings in Visa by 3.8% during the 2nd quarter. Wallington Asset Management LLC now owns 57,779 shares of the credit-card processor’s stock worth $5,419,000 after buying an additional 2,090 shares during the period. iAB Financial Bank raised its holdings in Visa by 2.6% during the 2nd quarter. iAB Financial Bank now owns 56,963 shares of the credit-card processor’s stock worth $5,342,000 after buying an additional 1,423 shares during the period. Carret Asset Management LLC raised its holdings in Visa by 4.5% during the 1st quarter. Carret Asset Management LLC now owns 27,037 shares of the credit-card processor’s stock worth $2,403,000 after buying an additional 1,153 shares during the period. Cypress Asset Management Inc. TX raised its holdings in Visa by 31.1% during the 2nd quarter. Cypress Asset Management Inc. TX now owns 14,720 shares of the credit-card processor’s stock worth $1,380,000 after buying an additional 3,495 shares during the period. Finally, DE Burlo Group Inc. raised its holdings in Visa by 65.9% during the 1st quarter. DE Burlo Group Inc. now owns 145,000 shares of the credit-card processor’s stock worth $12,886,000 after buying an additional 57,600 shares during the period. Institutional investors and hedge funds own 81.77% of the company’s stock.
A number of analysts have recently issued reports on V shares. Cantor Fitzgerald reiterated a “buy” rating and issued a $120.00 price objective on shares of Visa in a report on Wednesday, October 25th. UBS AG reiterated an “overweight” rating on shares of Visa in a report on Thursday, August 24th. BidaskClub upgraded shares of Visa from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Wells Fargo & Company raised shares of Visa from a “market perform” rating to an “outperform” rating and raised their target price for the company from $107.01 to $120.00 in a research note on Tuesday, October 10th. Finally, KeyCorp reissued a “buy” rating and issued a $110.00 target price on shares of Visa in a research note on Friday, August 25th. Three analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. Visa presently has an average rating of “Buy” and an average target price of $116.08.
Visa Inc. (NYSE:V) opened at $112.09 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.65 and a debt-to-equity ratio of 0.61. Visa Inc. has a 12-month low of $75.17 and a 12-month high of $112.47. The firm has a market capitalization of $256,320.00, a P/E ratio of 32.00, a PEG ratio of 1.63 and a beta of 0.98.
Visa (NYSE:V) last released its quarterly earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.05. The business had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.63 billion. Visa had a return on equity of 31.80% and a net margin of 36.49%. Visa’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 EPS. research analysts predict that Visa Inc. will post 4.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Friday, November 17th will be given a $0.195 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.17. This represents a $0.78 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, November 16th. Visa’s dividend payout ratio is presently 24.54%.
In related news, Director Mary B. Cranston sold 10,400 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total value of $1,074,528.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.14% of the company’s stock.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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