Visa Inc. (V) Shares Sold by Conning Inc.
Conning Inc. decreased its position in Visa Inc. (NYSE:V) by 8.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,374 shares of the credit-card processor’s stock after selling 4,552 shares during the period. Conning Inc.’s holdings in Visa were worth $3,736,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. WealthTrust Arizona LLC increased its stake 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. Rehmann Capital Advisory Group increased its stake in shares of Visa by 0.3% in the second quarter. Rehmann Capital Advisory Group now owns 12,869 shares of the credit-card processor’s stock valued at $954,000 after buying an additional 35 shares in the last quarter. Amarillo National Bank increased its stake in shares of Visa by 1.2% in the second quarter. Amarillo National Bank now owns 5,787 shares of the credit-card processor’s stock valued at $429,000 after buying an additional 67 shares in the last quarter. Clarius Group LLC increased its stake in shares of Visa by 2.5% in the first quarter. Clarius Group LLC now owns 3,531 shares of the credit-card processor’s stock valued at $270,000 after buying an additional 85 shares in the last quarter. Finally, Baker Ellis Asset Management LLC increased its stake in shares of Visa by 1.8% in the first quarter. Baker Ellis Asset Management LLC now owns 5,692 shares of the credit-card processor’s stock valued at $435,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 80.08% of the company’s stock.
Visa Inc. (NYSE:V) traded down 0.16% on Tuesday, reaching $82.73. The company’s stock had a trading volume of 5,771,983 shares. The firm has a 50 day moving average of $81.81 and a 200 day moving average of $78.97. Visa Inc. has a 12 month low of $66.12 and a 12 month high of $83.79. The firm has a market cap of $195.24 billion, a price-to-earnings ratio of 35.16 and a beta of 0.95.
Visa (NYSE:V) last announced its earnings results on Thursday, July 21st. The credit-card processor reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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%. Analysts anticipate that Visa Inc. will post $2.79 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Friday, August 19th were given a dividend of $0.14 per share. The ex-dividend date was Wednesday, August 17th. This represents a $0.56 annualized dividend and a dividend yield of 0.68%. Visa’s payout ratio is 24.35%.
V has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded shares of Visa from a “not rated” rating to an “overweight” rating and set a $88.00 target price on the stock in a research note on Monday, June 6th. Vetr raised Visa from a “hold” rating to a “buy” rating and set a $83.88 price target for the company in a report on Monday, June 6th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $97.00 price target on shares of Visa in a report on Thursday, June 9th. Oppenheimer Holdings Inc. lifted their price target on Visa from $85.00 to $90.00 and gave the company a “buy” rating in a report on Friday, June 10th. Finally, Zacks Investment Research raised Visa from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Friday, June 24th. Four equities research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $88.69.
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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