TRB Advisors LP reduced its stake in Visa Inc (NYSE:V) by 69.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,000 shares of the credit-card processor’s stock after selling 282,500 shares during the period. Visa makes up about 17.6% of TRB Advisors LP’s holdings, making the stock its 2nd largest holding. TRB Advisors LP’s holdings in Visa were worth $21,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its stake in shares of Visa by 0.6% in the fourth quarter. Advisors Asset Management Inc. now owns 456,714 shares of the credit-card processor’s stock worth $60,259,000 after buying an additional 2,895 shares during the last quarter. Allen Investment Management LLC lifted its stake in Visa by 10.4% in the fourth quarter. Allen Investment Management LLC now owns 18,577 shares of the credit-card processor’s stock valued at $2,451,000 after buying an additional 1,743 shares during the period. Abbrea Capital LLC lifted its stake in Visa by 1.2% in the 4th quarter. Abbrea Capital LLC now owns 73,875 shares of the credit-card processor’s stock valued at $9,747,000 after acquiring an additional 870 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in Visa by 11,319.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 86,570,056 shares of the credit-card processor’s stock worth $656,000 after acquiring an additional 85,811,983 shares during the last quarter. Finally, Cypress Capital Management LLC grew its stake in shares of Visa by 135.3% during the 4th quarter. Cypress Capital Management LLC now owns 3,304 shares of the credit-card processor’s stock worth $436,000 after acquiring an additional 1,900 shares in the last quarter. Institutional investors own 81.20% of the company’s stock.
Several brokerages recently commented on V. Nomura increased their price target on Visa from $178.00 to $204.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating and set a $180.00 price objective for the company. in a report on Saturday, June 15th. Raymond James raised their target price on shares of Visa from $177.00 to $193.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Wedbush restated an “outperform” rating on shares of Visa in a report on Wednesday, July 3rd. Finally, Guggenheim upped their price target on shares of Visa from $178.00 to $190.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $196.57.
Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.04. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.70 billion. Visa had a net margin of 53.43% and a return on equity of 41.04%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 EPS. As a group, equities analysts expect that Visa Inc will post 5.4 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Thursday, August 15th. Visa’s payout ratio is presently 21.69%.
In other Visa news, insider Vasant M. Prabhu sold 25,051 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.14, for a total transaction of $4,537,738.14. Following the sale, the insider now owns 62,223 shares of the company’s stock, valued at approximately $11,271,074.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Denise M. Morrison purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $171.13 per share, for a total transaction 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. Corporate insiders own 0.17% of the company’s stock.
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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