Visa Inc. (V) Position Cut by CLS Investments LLC
CLS Investments LLC decreased its stake in shares of Visa Inc. (NYSE:V) by 1.7% during the second quarter, Holdings Channel reports. The institutional investor owned 16,310 shares of the credit-card processor’s stock after selling 278 shares during the period. CLS Investments LLC’s holdings in Visa were worth $1,210,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Iowa State Bank purchased a new position in shares of Visa during the second quarter valued at approximately $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. Signature Estate & Investment Advisors LLC purchased a new position in shares of Visa during the second quarter valued at approximately $139,000. Feltz Wealth PLAN Inc. purchased a new position in shares of Visa during the second quarter valued at approximately $148,000. Finally, 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. 80.08% of the stock is owned by institutional investors.
Visa Inc. (NYSE:V) opened at 82.70 on Friday. The company has a market cap of $195.17 billion, a PE ratio of 35.15 and a beta of 0.91. The stock has a 50 day moving average of $81.68 and a 200 day moving average of $78.74. Visa Inc. has a 52 week low of $66.12 and a 52 week high of $83.79.
Visa (NYSE:V) last posted its earnings results on Thursday, July 21st. The credit-card processor reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. Visa had a return on equity of 22.36% and a net margin of 38.72%. The firm had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.67 billion. Equities research analysts predict that Visa Inc. will post $2.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Friday, August 19th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Wednesday, August 17th. Visa’s payout ratio is 24.35%.
V has been the subject of several recent analyst reports. Vetr raised shares of Visa from a “hold” rating to a “buy” rating and set a $83.88 price objective for the company in a research note on Monday, June 6th. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Visa in a research note on Wednesday, June 15th. Oppenheimer Holdings Inc. boosted their price objective on shares of Visa from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, June 10th. Zacks Investment Research raised shares of Visa from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Friday, June 24th. Finally, Jefferies Group reissued a “buy” rating on shares of Visa in a research note on Tuesday, July 5th. Four investment analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $88.54.
Visa Company Profile
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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