Tolleson Wealth Management Inc. cut its position in shares of Visa Inc (NYSE:V) by 10.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,201 shares of the credit-card processor’s stock after selling 1,370 shares during the quarter. Visa accounts for about 1.5% of Tolleson Wealth Management Inc.’s investment portfolio, making the stock its 11th largest holding. Tolleson Wealth Management Inc.’s holdings in Visa were worth $2,117,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. Lunia Capital LP increased its holdings in shares of Visa by 13,370.7% in the 4th quarter. Lunia Capital LP now owns 23,454,446 shares of the credit-card processor’s stock worth $23,454,000 after acquiring an additional 23,280,332 shares during the period. Thoroughbred Financial Services LLC boosted its stake in Visa by 17,806.8% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,346,951 shares of the credit-card processor’s stock valued at $334,695,000 after purchasing an additional 3,328,260 shares during the period. Prudential Financial Inc. grew its position in Visa by 92.0% in the 2nd quarter. Prudential Financial Inc. now owns 3,898,728 shares of the credit-card processor’s stock worth $676,625,000 after purchasing an additional 1,868,089 shares during the last quarter. FMR LLC grew its position in Visa by 1.9% in the 1st quarter. FMR LLC now owns 92,255,849 shares of the credit-card processor’s stock worth $14,409,440,000 after purchasing an additional 1,731,813 shares during the last quarter. Finally, Northern Trust Corp grew its position in Visa by 6.5% in the 2nd quarter. Northern Trust Corp now owns 20,991,024 shares of the credit-card processor’s stock worth $3,642,991,000 after purchasing an additional 1,276,243 shares during the last quarter. 81.20% of the stock is owned by hedge funds and other institutional investors.
In other Visa news, Director Lloyd Carney sold 3,500 shares of Visa stock in a transaction that occurred on 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 in the company, valued at $630,783.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vasant M. Prabhu sold 25,051 shares of Visa stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.14, for a total transaction of $4,537,738.14. Following the completion of the sale, the insider now owns 62,223 shares of the company’s stock, valued at $11,271,074.22. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.
V has been the subject of several recent analyst reports. Deutsche Bank increased their price target on Visa from $177.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. raised their price target on Visa from $166.00 to $182.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Credit Suisse Group lifted their price objective on shares of Visa from $200.00 to $203.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Piper Jaffray Companies set a $207.00 price objective on shares of Visa and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley upped their price objective on shares of Visa from $175.00 to $191.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Visa currently has an average rating of “Buy” and a consensus target price of $196.57.
Shares of V stock traded down $1.42 during trading hours on Wednesday, reaching $174.93. 7,699,313 shares of the stock traded hands, compared to its average volume of 5,549,568. Visa Inc has a 1-year low of $121.60 and a 1-year high of $187.05. The business has a fifty day moving average price of $179.35 and a 200 day moving average price of $166.94. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $360.18 billion, a PE ratio of 37.95, a PEG ratio of 2.04 and a beta of 0.97.
Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.04. The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.70 billion. Visa had a return on equity of 41.04% and a net margin of 53.43%. Visa’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 earnings per share. Research analysts expect that Visa Inc will post 5.4 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Thursday, August 15th. Visa’s dividend payout ratio is currently 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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