Cabot Wealth Management Inc. trimmed its position in Visa Inc. (NYSE:V – Free Report) by 4.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 46,119 shares of the credit-card processor’s stock after selling 1,988 shares during the period. Visa accounts for 1.5% of Cabot Wealth Management Inc.’s investment portfolio, making the stock its 19th biggest holding. Cabot Wealth Management Inc.’s holdings in Visa were worth $16,572,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in V. XXEC Inc. increased its holdings in shares of Visa by 153,118.8% in the second quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock valued at $63,904,097,000 after purchasing an additional 186,138,883 shares during the period. State Street Corp raised its stake in shares of Visa by 0.7% in the second quarter. State Street Corp now owns 82,872,209 shares of the credit-card processor’s stock worth $28,432,626,000 after purchasing an additional 566,194 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Visa by 13.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,720,068 shares of the credit-card processor’s stock worth $5,393,398,000 after purchasing an additional 1,808,496 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Visa by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 8,842,842 shares of the credit-card processor’s stock worth $2,672,655,000 after purchasing an additional 316,559 shares during the period. Finally, Amundi boosted its position in Visa by 16.5% in the second quarter. Amundi now owns 7,714,919 shares of the credit-card processor’s stock valued at $2,646,911,000 after buying an additional 1,092,315 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently weighed in on V shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $500.00 price target (up from $445.00) on shares of Visa in a report on Wednesday, October 28th. Bank of America raised their price target on shares of Visa from $410.00 to $430.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. DZ Bank restated a “buy” rating on shares of Visa in a research note on Monday, August 3rd. Oppenheimer upped their price objective on shares of Visa from $403.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, October 28th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $471.00 price objective (up from $416.00) on shares of Visa in a report on Wednesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating and thirty-five have issued a Buy rating to the company. According to MarketBeat, Visa has an average rating of “Buy” and a consensus price target of $443.35.
View Our Latest Research Report on V
Visa Price Performance
Shares of NYSE V opened at $425.56 on Thursday. The stock has a market capitalization of $759.37 billion, a price-to-earnings ratio of 34.51, a PEG ratio of 1.80 and a beta of 0.80. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $442.23. The firm’s 50 day simple moving average is $388.61 and its 200-day simple moving average is $346.16. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.97 and a quick ratio of 0.97.
Visa (NYSE:V – Get Free Report) last posted its earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.04. Visa had a net margin of 51.20% and a return on equity of 70.50%. The firm had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the previous year, the business posted $2.98 EPS. The business’s revenue was up 13.2% compared to the same quarter last year. Analysts expect that Visa Inc. will post 15.02 EPS for the current year.
Visa Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This is a positive change from Visa’s previous quarterly dividend of $0.67. This represents a $3.12 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio is presently 25.30%.
Insiders Place Their Bets
In other news, General Counsel Julie B. Rottenberg sold 2,028 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $381.35, for a total transaction of $773,377.80. Following the sale, the general counsel directly owned 18,404 shares of the company’s stock, valued at $7,018,365.40. This represents a 9.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 5,875 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $367.87, for a total value of $2,161,236.25. Following the sale, the chief executive officer owned 15,174 shares in the company, valued at $5,582,059.38. This trade represents a 27.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,262 shares of company stock valued at $11,195,791 in the last ninety days. 0.12% of the stock is owned by corporate insiders.
Visa Profile
Visa Inc. operates a global payments network that connects consumers, merchants, financial institutions and governments. Its network supports the authorization, clearing and settlement of electronic payments, including transactions made in person and online. The company’s services include payment processing, fraud prevention, identity and risk management, and money-transfer solutions such as Visa Direct. Visa-branded credit, debit and prepaid cards are issued by participating financial institutions; Visa generally provides the network and related services rather than issuing cards or extending credit directly to consumers.
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