Jones Financial Companies Lllp Sells 1,868 Shares of Visa Inc (V)

Jones Financial Companies Lllp reduced its position in Visa Inc (NYSE:V) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,572 shares of the credit-card processor’s stock after selling 1,868 shares during the quarter. Jones Financial Companies Lllp’s holdings in Visa were worth $14,778,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in V. Bank of Montreal Can bought a new stake in shares of Visa in the second quarter valued at about $727,019,000. Chevy Chase Trust Holdings Inc. bought a new position in Visa in the second quarter worth about $268,605,000. Amundi Pioneer Asset Management Inc. raised its holdings in Visa by 53.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 3,929,346 shares of the credit-card processor’s stock worth $470,029,000 after purchasing an additional 1,363,772 shares in the last quarter. Gateway Investment Advisers LLC bought a new position in Visa in the second quarter worth about $146,859,000. Finally, Welch & Forbes LLC bought a new position in Visa in the second quarter worth about $110,750,000. Hedge funds and other institutional investors own 80.18% of the company’s stock.

V has been the subject of a number of recent research reports. Morgan Stanley upgraded shares of Visa to an “overweight” rating in a report on Monday, July 23rd. Royal Bank of Canada boosted their target price on shares of Visa to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, September 5th. Wolfe Research initiated coverage on shares of Visa in a report on Tuesday, July 17th. They issued an “outperform” rating for the company. Zacks Investment Research downgraded shares of Visa from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Finally, Raymond James reiterated an “outperform” rating and issued a $165.00 target price on shares of Visa in a report on Tuesday, July 24th. Two equities research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $152.88.

In related news, CFO Vasant M. Prabhu sold 25,064 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 58,232 shares in the company, valued at $8,185,089.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP James H. Hoffmeister sold 6,912 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The shares were 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 owns 6,912 shares in the company, valued at approximately $967,749.12. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Shares of V stock opened at $145.36 on Monday. Visa Inc has a fifty-two week low of $105.87 and a fifty-two week high of $151.56. The stock has a market cap of $305.32 billion, a PE ratio of 41.77, a price-to-earnings-growth ratio of 1.86 and a beta of 1.06. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.69 and a current ratio of 1.69.

Visa (NYSE:V) last issued its quarterly earnings results on Wednesday, July 25th. The credit-card processor reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.11. Visa had a return on equity of 36.09% and a net margin of 47.91%. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. Sell-side analysts predict that Visa Inc will post 4.59 EPS for the current year.

About Visa

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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Institutional Ownership by Quarter for Visa (NYSE:V)

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