Institute for Wealth Management LLC. Trims Stock Holdings in Visa Inc (NYSE:V)

Institute for Wealth Management LLC. decreased its stake in Visa Inc (NYSE:V) by 8.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,702 shares of the credit-card processor’s stock after selling 1,362 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Visa were worth $2,552,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of V. FMR LLC grew its position in shares of Visa by 1.9% during the first quarter. FMR LLC now owns 92,255,849 shares of the credit-card processor’s stock worth $14,409,440,000 after purchasing an additional 1,731,813 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Visa by 11,319.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 86,570,056 shares of the credit-card processor’s stock worth $656,000 after purchasing an additional 85,811,983 shares in the last quarter. Lunia Capital LP grew its position in shares of Visa by 13,370.7% during the fourth quarter. Lunia Capital LP now owns 23,454,446 shares of the credit-card processor’s stock worth $23,454,000 after purchasing an additional 23,280,332 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Visa by 3.2% during the second quarter. Fisher Asset Management LLC now owns 19,780,743 shares of the credit-card processor’s stock worth $3,432,948,000 after purchasing an additional 622,075 shares in the last quarter. Finally, Jennison Associates LLC grew its position in shares of Visa by 1.6% during the fourth quarter. Jennison Associates LLC now owns 17,301,374 shares of the credit-card processor’s stock worth $2,282,743,000 after purchasing an additional 271,382 shares in the last quarter. Institutional investors and hedge funds own 81.34% of the company’s stock.

Several analysts recently issued reports on the company. Robert W. Baird set a $196.00 target price on Visa and gave the stock a “buy” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. increased their target price on Visa from $166.00 to $182.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Guggenheim increased their target price on Visa from $178.00 to $190.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Wedbush reiterated an “outperform” rating on shares of Visa in a research report on Wednesday, July 3rd. Finally, Morgan Stanley increased their target price on Visa from $175.00 to $191.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Two analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Visa currently has a consensus rating of “Buy” and an average target price of $195.46.

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

NYSE V traded up $1.24 during trading on Monday, hitting $179.47. 1,460,005 shares of the stock traded hands, compared to its average volume of 7,386,518. The company has a market capitalization of $349.70 billion, a P/E ratio of 38.93, a price-to-earnings-growth ratio of 1.97 and a beta of 0.96. The firm has a 50-day simple moving average of $178.23 and a 200-day simple moving average of $162.51. 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 Inc has a 12-month low of $121.60 and a 12-month high of $184.07.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.04. The business had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Visa had a return on equity of 41.04% and a net margin of 53.43%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 EPS. As a group, research analysts predict that Visa Inc will post 5.4 EPS for the current fiscal year.

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