Grand Jean Capital Management Inc. lowered its stake in Visa Inc (NYSE:V) by 2.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 98,616 shares of the credit-card processor’s stock after selling 2,766 shares during the quarter. Visa comprises 6.9% of Grand Jean Capital Management Inc.’s portfolio, making the stock its 4th largest position. Grand Jean Capital Management Inc.’s holdings in Visa were worth $17,115,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its stake in Visa by 2.3% during the 2nd quarter. BlackRock Inc. now owns 123,791,138 shares of the credit-card processor’s stock valued at $21,483,952,000 after purchasing an additional 2,773,330 shares in the last quarter. FMR LLC grew its stake in Visa by 1.9% during the 1st quarter. FMR LLC now owns 92,255,849 shares of the credit-card processor’s stock valued at $14,409,440,000 after purchasing an additional 1,731,813 shares in the last quarter. Lunia Capital LP grew its stake in Visa by 13,370.7% during the 4th quarter. Lunia Capital LP now owns 23,454,446 shares of the credit-card processor’s stock valued at $23,454,000 after purchasing an additional 23,280,332 shares in the last quarter. Northern Trust Corp grew its stake in Visa by 6.5% during the 2nd quarter. Northern Trust Corp now owns 20,991,024 shares of the credit-card processor’s stock valued at $3,642,991,000 after purchasing an additional 1,276,243 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in Visa by 3.2% during the 2nd quarter. Fisher Asset Management LLC now owns 19,780,743 shares of the credit-card processor’s stock valued at $3,432,948,000 after purchasing an additional 622,075 shares in the last quarter. Institutional investors and hedge funds own 81.20% of the company’s stock.
Shares of NYSE V traded down $0.26 during mid-day trading on Friday, hitting $177.72. The company had a trading volume of 1,543,464 shares, compared to its average volume of 5,973,028. The stock has a market cap of $349.86 billion, a price-to-earnings ratio of 38.55, a PEG ratio of 1.98 and a beta of 0.97. Visa Inc has a 12 month low of $121.60 and a 12 month high of $187.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.69. The firm’s 50 day simple moving average is $179.24 and its two-hundred day simple moving average is $167.08.
Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.04. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.70 billion. Visa had a return on equity of 41.04% and a net margin of 53.43%. The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted $1.20 EPS. Equities analysts forecast that Visa Inc will post 5.4 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Thursday, August 15th. Visa’s dividend payout ratio (DPR) is 21.69%.
A number of equities research analysts have weighed in on V shares. Citigroup raised their price objective on Visa from $185.00 to $206.00 and gave the company a “buy” rating in a research note on Monday. Barclays increased their target price on Visa from $181.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. KeyCorp increased their target price on Visa from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Jefferies Financial Group increased their target price on Visa from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, Wells Fargo & Co increased their target price on Visa from $181.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $196.57.
In other Visa news, Director Denise M. Morrison bought 1,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $171.13 per share, with a total value of $171,130.00. Following the purchase, the director now directly owns 3,223 shares of the company’s stock, valued at $551,551.99. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lloyd Carney sold 3,500 shares of Visa stock in a transaction 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 sale, the director now directly owns 3,452 shares in the company, valued at approximately $630,783.96. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.
Visa Company Profile
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.
Recommended Story: What is Elliott Wave theory?
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc (NYSE:V).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.