Prospera Financial Services Inc reduced its position in Visa Inc. (NYSE:V) by 18.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,803 shares of the credit-card processor’s stock after selling 1,352 shares during the period. Prospera Financial Services Inc’s holdings in Visa were worth $543,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of V. Pekin Singer Strauss Asset Management IL bought a new stake in shares of Visa during the fourth quarter worth about $1,104,000. Private Trust Co. NA boosted its position in Visa by 12.6% in the first quarter. Private Trust Co. NA now owns 36,990 shares of the credit-card processor’s stock worth $3,287,000 after buying an additional 4,138 shares in the last quarter. West Oak Capital LLC boosted its position in Visa by 20.0% in the first quarter. West Oak Capital LLC now owns 3,589 shares of the credit-card processor’s stock worth $319,000 after buying an additional 598 shares in the last quarter. Achmea Investment Management B.V. acquired a new position in Visa during the first quarter worth approximately $7,938,000. Finally, Pacific Center for Financial Services acquired a new position in Visa during the fourth quarter worth approximately $138,000. Institutional investors own 82.29% of the company’s stock.
Visa Inc. (NYSE:V) opened at 102.51 on Friday. Visa Inc. has a 1-year low of $75.17 and a 1-year high of $103.93. The firm has a 50 day moving average of $98.78 and a 200 day moving average of $92.76. The firm has a market cap of $234.38 billion, a P/E ratio of 38.12 and a beta of 0.94. Visa also saw unusually large options trading activity on Wednesday. Traders bought 12,583 put options on the stock. This is an increase of 163% compared to the average daily volume of 4,785 put options.
Visa (NYSE:V) last posted its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 30.95%. The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the previous year, the firm posted $0.69 earnings per share. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, equities research analysts expect that Visa Inc. will post $3.43 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Wednesday, August 16th. Visa’s payout ratio is 24.54%.
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V has been the topic of several recent research reports. BidaskClub raised Visa from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 10th. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a report on Tuesday, August 1st. Citigroup Inc. reiterated a “buy” rating and set a $115.00 price objective (up previously from $100.00) on shares of Visa in a report on Monday, July 24th. Wells Fargo & Company reiterated a “market perform” rating and set a $100.00 price objective (up previously from $87.50) on shares of Visa in a report on Saturday, July 22nd. Finally, Credit Suisse Group set a $112.00 target price on Visa and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Four equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $104.56.
In related news, EVP Tullier Kelly Mahon sold 29,772 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the completion of the transaction, the executive vice president now directly owns 17,360 shares in the company, valued at approximately $1,751,797.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.
Visa Company Profile
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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