Visa Inc. (V) Stake Reduced by Victory Capital Management Inc.
Victory Capital Management Inc. cut its stake in Visa Inc. (NYSE:V) by 12.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 892,245 shares of the credit-card processor’s stock after selling 131,844 shares during the period. Victory Capital Management Inc.’s holdings in Visa were worth $66,178,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. Iowa State Bank bought a new position in shares of Visa during the second quarter valued at $111,000. West Oak Capital LLC boosted its position in shares of Visa by 245.5% in the second quarter. West Oak Capital LLC now owns 1,534 shares of the credit-card processor’s stock valued at $114,000 after buying an additional 1,090 shares in the last quarter. WealthTrust Arizona LLC boosted its position in shares of Visa by 0.9% in the second quarter. WealthTrust Arizona LLC now owns 2,393 shares of the credit-card processor’s stock valued at $177,000 after buying an additional 21 shares in the last quarter. Invictus RG boosted its position in shares of Visa by 144.2% in the first quarter. Invictus RG now owns 2,454 shares of the credit-card processor’s stock valued at $188,000 after buying an additional 1,449 shares in the last quarter. Finally, Arcadia Investment Management Corp MI boosted its position in shares of Visa by 67.3% in the second quarter. Arcadia Investment Management Corp MI now owns 2,700 shares of the credit-card processor’s stock valued at $200,000 after buying an additional 1,086 shares in the last quarter. 80.09% of the stock is owned by institutional investors and hedge funds.
Shares of Visa Inc. (NYSE:V) remained flat at $82.51 during mid-day trading on Tuesday. 3,427,422 shares of the stock traded hands. Visa Inc. has a 52-week low of $66.12 and a 52-week high of $83.63. The company has a market capitalization of $194.72 billion, a PE ratio of 35.07 and a beta of 0.91. The stock’s 50-day moving average price is $80.87 and its 200-day moving average price is $78.12.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, July 21st. The credit-card processor reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. The company had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Visa had a return on equity of 22.36% and a net margin of 38.72%. Equities research analysts anticipate that Visa Inc. will post $2.79 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Friday, August 19th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Wednesday, August 17th. Visa’s dividend payout ratio is presently 24.35%.
V has been the subject of a number of recent analyst reports. Sanford C. Bernstein restated a “buy” rating on shares of Visa in a research report on Wednesday, June 15th. Argus restated a “buy” rating and issued a $90.00 price objective (up from $85.00) on shares of Visa in a research report on Monday, July 25th. Deutsche Bank AG restated a “buy” rating and issued a $87.00 price objective on shares of Visa in a research report on Tuesday, September 6th. Vetr cut Visa from a “buy” rating to a “hold” rating and set a $80.66 price objective for the company. in a research report on Monday, May 23rd. Finally, Piper Jaffray Cos. restated an “overweight” rating and issued a $94.00 price objective on shares of Visa in a research report on Friday, August 5th. Four equities research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $88.54.
Visa Inc is a payments technology company. The Company is engaged in operating a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions across the world. The Company provides its services to consumers, businesses, financial institutions and governments in more than 200 countries and territories for electronic payments.
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