UMB Bank N A MO lessened its stake in Visa Inc (NYSE:V) by 7.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,136 shares of the credit-card processor’s stock after selling 3,512 shares during the quarter. UMB Bank N A MO’s holdings in Visa were worth $7,486,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC increased its position in Visa by 114.7% in the second quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 86 shares during the last quarter. Personal Wealth Partners bought a new stake in Visa in the second quarter worth $30,000. Essex Investment Management Co. LLC bought a new stake in Visa in the fourth quarter worth $33,000. Mcmillion Capital Management Inc. bought a new stake in Visa in the second quarter worth $38,000. Finally, Hexavest Inc. bought a new stake in Visa in the second quarter worth $40,000. 81.63% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Lloyd Carney sold 3,500 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $182.73, for a total value 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 $630,783.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Denise M. Morrison acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average cost of $171.13 per share, with a total value of $171,130.00. Following the completion of the purchase, the director now owns 3,223 shares of the company’s stock, valued at $551,551.99. The disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.
Several equities research analysts recently weighed in on the stock. Wells Fargo & Co boosted their price target on shares of Visa from $181.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. Credit Suisse Group boosted their price objective on shares of Visa from $200.00 to $203.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Jefferies Financial Group boosted their price objective on shares of Visa from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Oppenheimer boosted their price objective on shares of Visa from $162.00 to $176.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Finally, Citigroup set a $206.00 price objective on shares of Visa and gave the company a “buy” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Visa currently has an average rating of “Buy” and a consensus target price of $195.46.
Shares of NYSE V traded down $3.36 during mid-day trading on Wednesday, reaching $175.25. The company had a trading volume of 1,599,431 shares, compared to its average volume of 7,765,283. The stock’s 50-day moving average price is $177.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.69 and a current ratio of 1.69. The firm has a market cap of $355.22 billion, a PE ratio of 38.02, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. Visa Inc has a 52 week low of $121.60 and a 52 week high of $184.07.
Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 EPS for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.04. The firm had revenue of $5.84 billion for 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 business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.20 earnings per share. As a group, sell-side analysts predict that Visa Inc will post 5.4 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Thursday, August 15th. Visa’s dividend payout ratio (DPR) is presently 21.69%.
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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