Rampart Investment Management Company LLC Grows Stock Position in Visa Inc (NYSE:V)

Rampart Investment Management Company LLC boosted its holdings in Visa Inc (NYSE:V) by 88.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 26,884 shares of the credit-card processor’s stock after acquiring an additional 12,651 shares during the quarter. Visa comprises about 0.9% of Rampart Investment Management Company LLC’s investment portfolio, making the stock its 14th biggest holding. Rampart Investment Management Company LLC’s holdings in Visa were worth $5,193,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its holdings in Visa by 4.3% during the 1st 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 last quarter. Capital International Investors grew its position in shares of Visa by 6.1% during the 1st quarter. Capital International Investors now owns 21,881,462 shares of the credit-card processor’s stock valued at $3,525,557,000 after acquiring an additional 1,250,002 shares during the period. Fisher Asset Management LLC grew its position in shares of Visa by 0.6% during the 1st quarter. Fisher Asset Management LLC now owns 20,319,088 shares of the credit-card processor’s stock valued at $3,273,812,000 after acquiring an additional 116,273 shares during the period. Edgewood Management LLC grew its position in shares of Visa by 1.9% during the 1st quarter. Edgewood Management LLC now owns 13,171,726 shares of the credit-card processor’s stock valued at $2,122,228,000 after acquiring an additional 243,957 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Visa by 3.0% during the 1st quarter. Legal & General Group Plc now owns 10,927,768 shares of the credit-card processor’s stock valued at $1,762,092,000 after acquiring an additional 320,352 shares during the period. Hedge funds and other institutional investors own 81.41% of the company’s stock.

Several research analysts recently commented on the stock. KeyCorp raised their price objective on shares of Visa from $190.00 to $215.00 and gave the stock a “positive” rating in a report on Monday, August 3rd. BMO Capital Markets cut their price objective on shares of Visa from $234.00 to $213.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Wedbush raised their price objective on shares of Visa from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Cowen raised their price objective on shares of Visa from $189.00 to $196.00 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. Finally, Jefferies Financial Group downgraded shares of Visa from a “buy” rating to a “hold” rating and cut their price objective for the stock from $190.00 to $180.00 in a report on Wednesday, April 15th. Seven equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $208.48.

In other Visa news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $191.49, for a total value of $1,340,430.00. Following the sale, the chief executive officer now owns 133,090 shares of the company’s stock, valued at approximately $25,485,404.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Rajat Taneja sold 3,279 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $202.02, for a total transaction of $662,423.58. Following the completion of the sale, the insider now directly owns 221,282 shares in the company, valued at approximately $44,703,389.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,979 shares of company stock worth $10,045,346. 0.19% of the stock is owned by corporate insiders.

NYSE:V traded down $0.79 during trading hours on Thursday, reaching $197.95. The company’s stock had a trading volume of 345,823 shares, compared to its average volume of 10,845,498. The firm has a market capitalization of $384.14 billion, a price-to-earnings ratio of 37.61, a PEG ratio of 3.00 and a beta of 0.88. The firm has a 50-day simple moving average of $194.51 and a 200-day simple moving average of $186.73. Visa Inc has a 1 year low of $133.93 and a 1 year high of $214.17. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.55 and a current ratio of 1.55.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.85 billion. Visa had a net margin of 51.37% and a return on equity of 40.65%. The firm’s revenue was down 18.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.37 EPS. Equities analysts anticipate that Visa Inc will post 5 earnings per share for the current fiscal year.

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 given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Thursday, August 13th. Visa’s payout ratio is presently 22.06%.

Visa Profile

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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