Draper Asset Management LLC Decreases Holdings in Visa Inc. $V

Draper Asset Management LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 7.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,016 shares of the credit-card processor’s stock after selling 77 shares during the period. Visa accounts for about 0.2% of Draper Asset Management LLC’s holdings, making the stock its 27th largest holding. Draper Asset Management LLC’s holdings in Visa were worth $354,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Nuveen LLC purchased a new stake in shares of Visa in the 1st quarter valued at about $3,518,533,000. Vanguard Group Inc. lifted its holdings in shares of Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after purchasing an additional 1,677,088 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Visa by 17.7% in the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock valued at $3,847,953,000 after purchasing an additional 1,651,954 shares during the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of Visa in the 1st quarter valued at about $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock valued at $5,003,569,000 after purchasing an additional 955,392 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. UBS Group reissued a “buy” rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Barclays reissued an “overweight” rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Robert W. Baird set a $410.00 target price on Visa and gave the company an “outperform” rating in a report on Monday, October 6th. Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Finally, Oppenheimer boosted their price target on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $392.75.

Visa Stock Performance

NYSE V opened at $347.34 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $344.79 and its two-hundred day moving average is $347.98. Visa Inc. has a 12-month low of $280.78 and a 12-month high of $375.51. The stock has a market capitalization of $636.60 billion, a price-to-earnings ratio of 33.92, a PEG ratio of 2.05 and a beta of 0.90.

Visa (NYSE:V) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter in the previous year, the firm posted $2.42 EPS. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. Research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa’s payout ratio is presently 23.05%.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares in the company, valued at $183,815.10. The trade was a 95.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.