Spectrum Asset Management Inc. NB CA Lowers Holdings in Visa Inc (NYSE:V)

Spectrum Asset Management Inc. NB CA cut its holdings in shares of Visa Inc (NYSE:V) by 27.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,500 shares of the credit-card processor’s stock after selling 2,880 shares during the quarter. Spectrum Asset Management Inc. NB CA’s holdings in Visa were worth $1,302,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in V. Lowe Wealth Advisors LLC boosted its holdings in Visa by 114.7% during the 2nd quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 86 shares during the period. Hexavest Inc. purchased a new position in Visa during the 2nd quarter valued at about $40,000. Essex Investment Management Co. LLC purchased a new position in Visa during the 4th quarter valued at about $33,000. Sound Income Strategies LLC boosted its holdings in Visa by 141.6% during the 2nd quarter. Sound Income Strategies LLC now owns 331 shares of the credit-card processor’s stock valued at $57,000 after acquiring an additional 194 shares during the period. Finally, Weaver Consulting Group purchased a new position in shares of Visa in the first quarter valued at approximately $67,000. Institutional investors and hedge funds own 81.16% of the company’s stock.

Several research analysts have recently commented on V shares. Nomura raised their price objective on shares of Visa from $178.00 to $204.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Wedbush reissued an “outperform” rating on shares of Visa in a research note on Wednesday, July 3rd. Robert W. Baird set a $196.00 price target on shares of Visa and gave the company a “buy” rating in a research report on Friday, July 19th. Zacks Investment Research cut shares of Visa from a “buy” rating to a “hold” rating and set a $180.00 price target for the company. in a research report on Saturday, June 15th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $181.00 price target on shares of Visa in a research report on Sunday, April 28th. Two analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $195.46.

In other Visa news, Director Lloyd Carney sold 3,500 shares of Visa stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $182.73, for a total transaction of $639,555.00. Following the completion of the sale, the director now directly owns 3,452 shares of the company’s stock, valued at approximately $630,783.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is owned by insiders.

Shares of Visa stock traded down $1.75 during trading on Friday, hitting $177.42. 8,263,354 shares of the stock were exchanged, compared to its average volume of 5,565,434. The company has a market cap of $355.30 billion, a PE ratio of 38.49, a price-to-earnings-growth ratio of 1.99 and a beta of 0.96. The business’s 50-day simple moving average is $176.79. Visa Inc has a 12-month low of $121.60 and a 12-month high of $184.07. The company has a current ratio of 1.69, a quick ratio of 1.62 and a debt-to-equity ratio of 0.57.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.04. The business had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Visa had a net margin of 53.43% and a return on equity of 41.04%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.20 EPS. On average, equities analysts forecast that Visa Inc will post 5.4 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Thursday, August 15th. Visa’s dividend payout ratio (DPR) is 21.69%.

Visa Profile

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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Institutional Ownership by Quarter for Visa (NYSE:V)

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