Lowe Brockenbrough & Co. Inc. Cuts Holdings in Visa Inc. (V)

Lowe Brockenbrough & Co. Inc. lessened its stake in Visa Inc. (NYSE:V) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,899 shares of the credit-card processor’s stock after selling 297 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Visa were worth $553,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Mercer Capital Advisers Inc. grew its stake in Visa by 2.2% in the 1st quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after buying an additional 25 shares in the last quarter. Smithfield Trust Co. grew its stake in Visa by 0.3% in the 1st quarter. Smithfield Trust Co. now owns 9,047 shares of the credit-card processor’s stock worth $804,000 after buying an additional 25 shares in the last quarter. Harwood Advisory Group LLC grew its stake in Visa by 0.9% in the 2nd quarter. Harwood Advisory Group LLC now owns 2,765 shares of the credit-card processor’s stock worth $259,000 after buying an additional 25 shares in the last quarter. Sky Investment Group LLC grew its stake in Visa by 0.9% in the 2nd quarter. Sky Investment Group LLC now owns 2,685 shares of the credit-card processor’s stock worth $252,000 after buying an additional 25 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in Visa by 0.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,994 shares of the credit-card processor’s stock worth $533,000 after buying an additional 27 shares in the last quarter. 81.68% of the stock is owned by institutional investors and hedge funds.

Shares of Visa Inc. (V) opened at 108.11 on Friday. Visa Inc. has a 12 month low of $75.17 and a 12 month high of $108.71. The stock has a market capitalization of $247.19 billion, a P/E ratio of 40.20 and a beta of 0.93. The company’s 50-day moving average is $105.03 and its 200 day moving average is $97.44.

Visa (NYSE:V) last posted its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. Equities research analysts predict that Visa Inc. will post $3.42 earnings per share for the current year.

A number of equities analysts have commented on V shares. Sandler O’Neill reissued a “hold” rating on shares of Visa in a research note on Wednesday, June 21st. Cowen and Company restated an “outperform” rating and issued a $105.00 price objective on shares of Visa in a report on Friday, June 23rd. Jefferies Group LLC restated a “buy” rating and issued a $104.00 price objective on shares of Visa in a report on Sunday, June 25th. Mizuho started coverage on shares of Visa in a report on Tuesday, June 27th. They issued a “buy” rating and a $115.00 price objective for the company. Finally, Vetr upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $100.12 price objective for the company in a report on Tuesday, June 27th. Two investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $109.40.

In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $100.91, for a total value of $3,004,292.52. Following the transaction, the executive vice president now owns 17,360 shares in the company, valued at $1,751,797.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary B. Cranston sold 10,400 shares of Visa stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $103.32, for a total value of $1,074,528.00. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

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About Visa

Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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