Mathes Company Inc. Has $3 Million Stock Holdings in Visa Inc (NYSE:V)

Mathes Company Inc. cut its position in Visa Inc (NYSE:V) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,270 shares of the credit-card processor’s stock after selling 100 shares during the period. Visa accounts for approximately 1.6% of Mathes Company Inc.’s investment portfolio, making the stock its 27th biggest holding. Mathes Company Inc.’s holdings in Visa were worth $2,997,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC boosted its stake in Visa by 117.0% during the 2nd quarter. SG Americas Securities LLC now owns 290,631 shares of the credit-card processor’s stock valued at $50,439,000 after purchasing an additional 156,693 shares during the last quarter. Suncoast Equity Management boosted its stake in Visa by 2.8% during the 2nd quarter. Suncoast Equity Management now owns 238,479 shares of the credit-card processor’s stock valued at $41,388,000 after purchasing an additional 6,551 shares during the last quarter. Boston Common Asset Management LLC boosted its stake in Visa by 0.3% during the 2nd quarter. Boston Common Asset Management LLC now owns 84,472 shares of the credit-card processor’s stock valued at $14,660,000 after purchasing an additional 213 shares during the last quarter. Financial Gravity Wealth Inc. boosted its stake in Visa by 139.9% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 974 shares of the credit-card processor’s stock valued at $169,000 after purchasing an additional 568 shares during the last quarter. Finally, Advisor Partners LLC boosted its stake in Visa by 1.8% during the 2nd quarter. Advisor Partners LLC now owns 53,704 shares of the credit-card processor’s stock valued at $9,320,000 after purchasing an additional 935 shares during the last quarter. Institutional investors own 81.15% of the company’s stock.

Shares of NYSE:V traded down $0.85 during mid-day trading on Friday, reaching $179.05. The company had a trading volume of 5,147,430 shares, compared to its average volume of 7,073,656. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $356.91 billion, a price-to-earnings ratio of 38.84, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96. The company has a 50-day simple moving average of $177.57. Visa Inc has a one year low of $121.60 and a one year high of $184.07.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.04. The company had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Visa had a net margin of 53.43% and a return on equity of 41.04%. Visa’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 EPS. On average, equities analysts expect that Visa Inc will post 5.4 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.56%. Visa’s dividend payout ratio (DPR) is presently 21.69%.

Several research firms have commented on V. Jefferies Financial Group lifted their target price on shares of Visa from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Goldman Sachs Group reissued a “buy” rating and set a $202.00 target price on shares of Visa in a research report on Wednesday, July 24th. Credit Suisse Group lifted their target price on shares of Visa from $200.00 to $203.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. KeyCorp lifted their target price on shares of Visa from $190.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Barclays lifted their target price on shares of Visa from $181.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Two analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Visa presently has a consensus rating of “Buy” and an average target price of $195.46.

In related news, Director Denise M. Morrison purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average price of $171.13 per share, with a total value of $171,130.00. Following the acquisition, the director now owns 3,223 shares of the company’s stock, valued at approximately $551,551.99. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of 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. Insiders own 0.17% of the company’s stock.

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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