Swiss National Bank Lowers Stock Position in Visa Inc (NYSE:V)

Swiss National Bank lessened its holdings in Visa Inc (NYSE:V) by 2.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,424,128 shares of the credit-card processor’s stock after selling 185,200 shares during the quarter. Visa accounts for approximately 1.2% of Swiss National Bank’s holdings, making the stock its 7th biggest holding. Swiss National Bank owned approximately 0.32% of Visa worth $1,114,907,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in V. Lowe Wealth Advisors LLC boosted its stake in shares of Visa by 114.7% in the 2nd quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 86 shares in the last quarter. Personal Wealth Partners acquired a new stake in shares of Visa in the 2nd quarter valued at $30,000. Essex Investment Management Co. LLC acquired a new stake in shares of Visa in the 4th quarter valued at $33,000. Mcmillion Capital Management Inc. acquired a new stake in shares of Visa in the 2nd quarter valued at $38,000. Finally, Hexavest Inc. acquired a new stake in shares of Visa in the 2nd quarter valued at $40,000. 81.63% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Visa from $175.00 to $191.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. UBS Group boosted their target price on shares of Visa from $183.00 to $187.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of Visa from $166.00 to $182.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Citigroup set a $206.00 target price on shares of Visa and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Credit Suisse Group boosted their target price on shares of Visa from $200.00 to $203.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Visa has an average rating of “Buy” and a consensus price target of $195.46.

In other Visa news, Director Lloyd Carney sold 3,500 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $630,783.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Denise M. Morrison acquired 1,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were purchased at an average cost of $171.13 per share, with a total value of $171,130.00. Following the completion of 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. Insiders own 0.17% of the company’s stock.

NYSE V traded up $1.96 on Friday, hitting $178.23. 8,179,400 shares of the company were exchanged, compared to its average volume of 7,386,518. The firm has a 50 day moving average of $178.23 and a two-hundred day moving average of $162.51. The company has a market cap of $349.70 billion, a P/E ratio of 38.66, a P/E/G ratio of 1.97 and a beta of 0.96. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.57. Visa Inc has a 1-year low of $121.60 and a 1-year high of $184.07.

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

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