Courier Capital LLC Reduces Holdings in Visa Inc (V)
Courier Capital LLC decreased its position in shares of Visa Inc (NYSE:V) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 65,577 shares of the credit-card processor’s stock after selling 1,054 shares during the quarter. Visa makes up about 1.1% of Courier Capital LLC’s holdings, making the stock its 22nd largest position. Courier Capital LLC’s holdings in Visa were worth $8,685,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Stifel Financial Corp grew its holdings in shares of Visa by 2.6% during the first quarter. Stifel Financial Corp now owns 1,866,738 shares of the credit-card processor’s stock worth $223,368,000 after buying an additional 47,939 shares during the last quarter. Robecosam AG grew its holdings in shares of Visa by 17.8% during the fourth quarter. Robecosam AG now owns 9,562 shares of the credit-card processor’s stock worth $1,093,000 after buying an additional 1,445 shares during the last quarter. 6 Meridian purchased a new position in shares of Visa during the first quarter worth about $6,393,000. Financial Advocates Investment Management grew its holdings in shares of Visa by 29.0% during the first quarter. Financial Advocates Investment Management now owns 25,224 shares of the credit-card processor’s stock worth $3,017,000 after buying an additional 5,672 shares during the last quarter. Finally, First American Trust FSB purchased a new position in shares of Visa during the second quarter worth about $5,855,000. 80.23% of the stock is currently owned by institutional investors.
In other news, CFO Vasant M. Prabhu sold 25,064 shares of Visa stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $140.56, for a total transaction of $3,522,995.84. Following the completion of the sale, the chief financial officer now directly owns 58,232 shares in the company, valued at approximately $8,185,089.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP James H. Hoffmeister sold 6,912 shares of Visa stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $140.01, for a total transaction of $967,749.12. Following the sale, the senior vice president now owns 6,912 shares of the company’s stock, valued at $967,749.12. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.
Visa (NYSE:V) last announced its quarterly earnings data on Wednesday, July 25th. The credit-card processor reported $1.20 EPS for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.11. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.09 billion. Visa had a net margin of 47.91% and a return on equity of 36.09%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 earnings per share. sell-side analysts anticipate that Visa Inc will post 4.57 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Friday, August 17th will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, August 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.58%. Visa’s payout ratio is 24.14%.
V has been the topic of a number of research reports. Morgan Stanley raised Visa to an “overweight” rating in a report on Monday, July 23rd. Wells Fargo & Co raised their price target on Visa from $143.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, July 12th. Cantor Fitzgerald raised their price target on Visa to $160.00 and gave the stock an “overweight” rating in a report on Thursday, July 26th. Oppenheimer raised their price target on Visa from $143.00 to $154.00 and gave the stock an “outperform” rating in a report on Tuesday, July 17th. Finally, SunTrust Banks raised their price target on Visa to $170.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $147.87.
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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