First Interstate Bank lifted its holdings in shares of Visa Inc (NYSE:V) by 34.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,930 shares of the credit-card processor’s stock after acquiring an additional 3,036 shares during the quarter. First Interstate Bank’s holdings in Visa were worth $2,305,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its stake in Visa by 4.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 27,495,717 shares of the credit-card processor’s stock worth $4,430,109,000 after purchasing an additional 1,121,525 shares during the period. Capital International Investors grew its stake in shares of Visa by 6.1% in the first quarter. Capital International Investors now owns 21,881,462 shares of the credit-card processor’s stock worth $3,525,557,000 after acquiring an additional 1,250,002 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Visa by 0.6% in the first quarter. Fisher Asset Management LLC now owns 20,319,088 shares of the credit-card processor’s stock worth $3,273,812,000 after acquiring an additional 116,273 shares during the last quarter. Edgewood Management LLC grew its stake in shares of Visa by 1.9% in the first quarter. Edgewood Management LLC now owns 13,171,726 shares of the credit-card processor’s stock worth $2,122,228,000 after acquiring an additional 243,957 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Visa by 3.0% in the first quarter. Legal & General Group Plc now owns 10,927,768 shares of the credit-card processor’s stock worth $1,762,092,000 after acquiring an additional 320,352 shares during the last quarter. 81.41% of the stock is currently owned by institutional investors.
Shares of V traded down $1.16 during trading hours on Thursday, hitting $197.58. The company had a trading volume of 6,953,044 shares, compared to its average volume of 10,845,498. The company has a market capitalization of $383.78 billion, a PE ratio of 37.69, a price-to-earnings-growth ratio of 3.00 and a beta of 0.88. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.59. Visa Inc has a one year low of $133.93 and a one year high of $214.17. The company’s fifty day moving average price is $194.51 and its two-hundred day moving average price is $186.73.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, August 13th. This represents a $1.20 annualized dividend and a yield of 0.61%. Visa’s dividend payout ratio (DPR) is 22.06%.
A number of research analysts have weighed in on V shares. Royal Bank of Canada increased their target price on Visa from $195.00 to $212.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Oppenheimer started coverage on Visa in a research note on Tuesday, June 23rd. They set an “outperform” rating and a $202.00 target price on the stock. Citigroup raised their price target on Visa from $205.00 to $223.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Jefferies Financial Group cut Visa from a “buy” rating to a “hold” rating and cut their price target for the company from $190.00 to $180.00 in a report on Wednesday, April 15th. Finally, JPMorgan Chase & Co. dropped their target price on Visa from $203.00 to $186.00 and set an “overweight” rating for the company in a report on Wednesday, July 29th. Seven investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Visa presently has a consensus rating of “Buy” and an average target price of $208.48.
In related news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $191.49, for a total transaction of $1,340,430.00. Following the transaction, the chief executive officer now directly owns 133,090 shares in the company, valued at approximately $25,485,404.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lloyd Carney sold 1,550 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $192.64, for a total value of $298,592.00. Following the transaction, the director now owns 2,962 shares in the company, valued at $570,599.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,979 shares of company stock worth $10,045,346. 0.19% of the stock is owned by company insiders.
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.
Recommended Story: Options Trading – What is a Straddle?
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc (NYSE:V).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.