Destination Wealth Management lessened its position in Visa Inc (NYSE:V) by 36.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,943 shares of the credit-card processor’s stock after selling 1,124 shares during the quarter. Destination Wealth Management’s holdings in Visa were worth $257,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stifel Financial Corp increased its position in Visa by 2.6% during the 1st quarter. Stifel Financial Corp now owns 1,866,738 shares of the credit-card processor’s stock valued at $223,368,000 after buying an additional 47,939 shares in the last quarter. Robecosam AG increased its position in Visa by 17.8% during the 4th quarter. Robecosam AG now owns 9,562 shares of the credit-card processor’s stock valued at $1,093,000 after buying an additional 1,445 shares in the last quarter. 6 Meridian bought a new position in Visa during the 1st quarter valued at approximately $6,393,000. Benson Investment Management Company Inc. increased its position in Visa by 362.7% during the 2nd quarter. Benson Investment Management Company Inc. now owns 26,560 shares of the credit-card processor’s stock valued at $3,518,000 after buying an additional 20,820 shares in the last quarter. Finally, Wealthstreet Investment Advisors LLC increased its position in Visa by 2.1% during the 2nd quarter. Wealthstreet Investment Advisors LLC now owns 145,294 shares of the credit-card processor’s stock valued at $19,244,000 after buying an additional 2,930 shares in the last quarter. Institutional investors own 80.27% of the company’s stock.
Visa stock opened at $147.84 on Friday. The firm has a market capitalization of $298.16 billion, a price-to-earnings ratio of 42.48, a price-to-earnings-growth ratio of 1.81 and a beta of 1.09. Visa Inc has a 12 month low of $102.75 and a 12 month high of $148.37. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.69 and a quick ratio of 1.69.
Visa (NYSE:V) last posted its earnings results on Wednesday, July 25th. The credit-card processor reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.11. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.09 billion. Visa had a return on equity of 36.09% and a net margin of 47.91%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 EPS. equities research analysts forecast that Visa Inc will post 4.61 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Friday, August 17th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Thursday, August 16th. Visa’s payout ratio is 24.14%.
In related news, CFO Vasant M. Prabhu sold 25,064 shares of Visa stock in a transaction on Wednesday, August 8th. The stock was 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 owns 58,232 shares of the company’s stock, valued at $8,185,089.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James H. Hoffmeister sold 6,912 shares of Visa stock in a transaction on Monday, August 6th. The stock was sold at an average price of $140.01, for a total value of $967,749.12. Following the completion of the sale, the senior vice president now directly owns 6,912 shares of the company’s stock, valued at approximately $967,749.12. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.
A number of research analysts recently weighed in on V shares. Wedbush raised their price objective on Visa from $135.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, June 6th. Buckingham Research raised their price objective on Visa from $152.00 to $169.00 and gave the company a “buy” rating in a research report on Tuesday, June 26th. Wells Fargo & Co raised their price objective on Visa from $143.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, July 12th. Oppenheimer raised their price objective on Visa from $143.00 to $154.00 and gave the company an “outperform” rating in a research report on Tuesday, July 17th. Finally, Wolfe Research started coverage on Visa in a research report on Tuesday, July 17th. They set an “outperform” rating for the company. Three investment analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. Visa presently has an average rating of “Buy” and a consensus target price of $150.45.
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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