Putnam FL Investment Management Co. Decreases Stock Holdings in Visa Inc (NYSE:V)

Putnam FL Investment Management Co. lowered its position in Visa Inc (NYSE:V) by 7.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 186,257 shares of the credit-card processor’s stock after selling 14,274 shares during the quarter. Visa comprises approximately 2.6% of Putnam FL Investment Management Co.’s portfolio, making the stock its 5th largest holding. Putnam FL Investment Management Co.’s holdings in Visa were worth $32,325,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Berkeley Capital Partners LLC raised its stake in shares of Visa by 25.3% in the 4th quarter. Berkeley Capital Partners LLC now owns 3,538 shares of the credit-card processor’s stock valued at $467,000 after acquiring an additional 715 shares in the last quarter. Bedel Financial Consulting Inc. raised its stake in shares of Visa by 6.5% in the 4th quarter. Bedel Financial Consulting Inc. now owns 2,190 shares of the credit-card processor’s stock valued at $289,000 after acquiring an additional 133 shares in the last quarter. Ackerman Capital Advisors LLC bought a new position in shares of Visa in the 4th quarter valued at approximately $578,000. Excalibur Management Corp raised its stake in shares of Visa by 2.3% in the 4th quarter. Excalibur Management Corp now owns 11,011 shares of the credit-card processor’s stock valued at $1,453,000 after acquiring an additional 245 shares in the last quarter. Finally, Quilter Investors LTD bought a new position in Visa in the 4th quarter worth approximately $6,101,000. 81.15% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Lloyd Carney sold 3,500 shares of Visa stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $182.73, for a total transaction of $639,555.00. Following the sale, the director now owns 3,452 shares of the company’s stock, valued at approximately $630,783.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Denise M. Morrison acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average cost of $171.13 per share, for a total transaction of $171,130.00. Following the acquisition, the director now directly owns 3,223 shares in the company, valued at approximately $551,551.99. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

Several research analysts have commented on V shares. Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating and set a $180.00 price target on the stock. in a research report on Saturday, June 15th. Wedbush reaffirmed an “outperform” rating on shares of Visa in a research report on Wednesday, July 3rd. Guggenheim lifted their price target on Visa from $178.00 to $190.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Citigroup set a $206.00 price target on Visa and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, Jefferies Financial Group lifted their price target on Visa from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Two analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Visa presently has a consensus rating of “Buy” and a consensus target price of $195.46.

Shares of NYSE:V traded down $1.57 during trading on Friday, hitting $178.33. 2,599,393 shares of the stock were exchanged, compared to its average volume of 6,883,754. Visa Inc has a 1-year low of $121.60 and a 1-year high of $184.07. The stock has a market capitalization of $342.19 billion, a P/E ratio of 38.68, a price-to-earnings-growth ratio of 1.93 and a beta of 0.96. The company has a fifty day moving average price of $177.43. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.57.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.04. Visa had a return on equity of 41.04% and a net margin of 53.43%. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter last year, the firm earned $1.20 EPS. Visa’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, analysts forecast that Visa Inc will post 5.4 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Thursday, August 15th. Visa’s payout ratio is presently 21.69%.

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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