Waddell & Reed Financial Inc. lessened its stake in shares of Visa Inc (NYSE:V) by 9.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,417,434 shares of the credit-card processor’s stock after selling 434,798 shares during the quarter. Visa makes up approximately 1.4% of Waddell & Reed Financial Inc.’s portfolio, making the stock its 10th biggest position. Waddell & Reed Financial Inc.’s holdings in Visa were worth $585,089,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Lee Financial Group Hawaii Inc. raised its holdings in shares of Visa by 1.6% during the second quarter. Lee Financial Group Hawaii Inc. now owns 24,147 shares of the credit-card processor’s stock valued at $3,198,000 after acquiring an additional 388 shares in the last quarter. Baird Financial Group Inc. raised its holdings in shares of Visa by 2.2% during the second quarter. Baird Financial Group Inc. now owns 944,191 shares of the credit-card processor’s stock valued at $125,058,000 after acquiring an additional 20,084 shares in the last quarter. Wealthstreet Investment Advisors LLC raised its holdings in shares of Visa by 2.1% during the second quarter. Wealthstreet Investment Advisors LLC now owns 145,294 shares of the credit-card processor’s stock valued at $19,244,000 after acquiring an additional 2,930 shares in the last quarter. Stifel Financial Corp raised 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 valued at $223,368,000 after acquiring an additional 47,939 shares in the last quarter. Finally, Credit Agricole S A raised its holdings in shares of Visa by 0.8% during the second quarter. Credit Agricole S A now owns 169,611 shares of the credit-card processor’s stock valued at $22,465,000 after acquiring an additional 1,312 shares in the last quarter. 80.38% of the stock is owned by hedge funds and other institutional investors.
NYSE V opened at $143.93 on Friday. Visa Inc has a 12 month low of $106.60 and a 12 month high of $151.56. The firm has a market capitalization of $294.52 billion, a PE ratio of 31.47, a P/E/G ratio of 1.57 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.69 and a current ratio of 1.61.
Visa (NYSE:V) last released its earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Visa had a return on equity of 38.00% and a net margin of 49.98%. The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.44 billion. As a group, equities analysts anticipate that Visa Inc will post 5.32 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Friday, November 16th will be paid a $0.25 dividend. This is a boost from Visa’s previous quarterly dividend of $0.21. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Thursday, November 15th. Visa’s dividend payout ratio is currently 18.22%.
In other news, EVP William M. Sheedy sold 99,636 shares of the stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $139.28, for a total value of $13,877,302.08. Following the sale, the executive vice president now directly owns 296,925 shares of the company’s stock, valued at $41,355,714. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.
A number of equities analysts recently commented on V shares. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $168.00 target price for the company in a report on Tuesday, September 25th. Morgan Stanley upped their target price on Visa from $142.00 to $165.00 and gave the company a “$140.13” rating in a report on Thursday, July 19th. JPMorgan Chase & Co. restated a “buy” rating and set a $166.00 target price on shares of Visa in a report on Thursday, October 25th. Royal Bank of Canada increased their price objective on Visa to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, September 5th. Finally, Raymond James reiterated an “outperform” rating and issued a $165.00 price objective on shares of Visa in a report on Tuesday, July 24th. Two investment analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $155.47.
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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