Bank of Stockton lowered its stake in shares of Visa Inc (NYSE:V) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,865 shares of the credit-card processor’s stock after selling 1,125 shares during the period. Visa accounts for approximately 1.9% of Bank of Stockton’s portfolio, making the stock its 10th largest holding. Bank of Stockton’s holdings in Visa were worth $3,424,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in V. Earnest Partners LLC bought a new position in Visa in the fourth quarter valued at $100,000. AlphaOne Investment Services LLC bought a new position in Visa in the fourth quarter valued at $108,000. Financial Gravity Companies Inc. bought a new position in Visa in the fourth quarter valued at $112,000. First Dallas Securities Inc. bought a new position in Visa in the fourth quarter valued at $125,000. Finally, Slow Capital Inc. bought a new position in Visa in the fourth quarter valued at $132,000. 80.28% of the stock is currently owned by hedge funds and other institutional investors.
Visa stock opened at $140.94 on Tuesday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.60. The stock has a market cap of $284.25 billion, a PE ratio of 40.50, a PEG ratio of 1.78 and a beta of 1.06. Visa Inc has a 1-year low of $102.26 and a 1-year high of $143.14.
Visa (NYSE:V) last posted its earnings results on Wednesday, July 25th. The credit-card processor reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.11. The company had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.09 billion. Visa had a net margin of 47.91% and a return on equity of 36.09%. Visa’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 earnings per share. sell-side analysts predict that Visa Inc will post 4.56 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Friday, August 17th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $0.84 annualized dividend and a yield of 0.60%. Visa’s dividend payout ratio (DPR) is presently 24.14%.
In other Visa news, CFO Vasant M. Prabhu sold 25,064 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $140.56, for a total value 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 $8,185,089.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James H. Hoffmeister sold 6,912 shares of the firm’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $140.01, for a total transaction of $967,749.12. Following the completion of 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. Company insiders own 0.14% of the company’s stock.
A number of research analysts have recently issued reports on the company. Bank of America raised their price objective on Visa from $155.00 to $163.00 and gave the company a “buy” rating in a research note on Monday, August 13th. Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. Cantor Fitzgerald raised their price objective on Visa to $160.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. SunTrust Banks raised their price objective on Visa to $170.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. They noted that the move was a valuation call. Finally, KeyCorp raised their price objective on Visa from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. Three analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price 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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