Montag & Caldwell LLC Sells 125,629 Shares of Visa Inc. (V)
Montag & Caldwell LLC decreased its position in Visa Inc. (NYSE:V) by 4.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,867,289 shares of the credit-card processor’s stock after selling 125,629 shares during the period. Visa makes up about 4.3% of Montag & Caldwell LLC’s investment portfolio, making the stock its 6th largest position. Montag & Caldwell LLC’s holdings in Visa were worth $212,667,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Iowa State Bank acquired a new position in shares of Visa during the second quarter worth about $111,000. West Oak Capital LLC raised its stake 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 during the period. WealthTrust Arizona LLC raised 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 during the period. Invictus RG raised its stake 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 during the period. Finally, Arcadia Investment Management Corp MI raised its stake 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 during the period. Hedge funds and other institutional investors own 80.08% of the company’s stock.
Visa Inc. (NYSE:V) traded up 0.71% during midday trading on Friday, reaching $82.45. The company had a trading volume of 6,698,083 shares. The stock has a market cap of $194.58 billion, a P/E ratio of 35.04 and a beta of 0.95. Visa Inc. has a 12 month low of $66.12 and a 12 month high of $83.79. The firm has a 50-day moving average of $82.28 and a 200-day moving average of $79.36.
Visa (NYSE:V) last announced its quarterly earnings results on Thursday, July 21st. The credit-card processor reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. The firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.67 billion. Visa had a return on equity of 22.36% and a net margin of 38.72%. On average, equities analysts expect that Visa Inc. will post $2.79 EPS for the current fiscal year.
Several analysts have recently weighed in on the company. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $99.00 price objective on shares of Visa in a report on Friday. Pacific Crest restated a “buy” rating on shares of Visa in a report on Friday, July 22nd. Nomura restated a “buy” rating and issued a $91.00 price objective on shares of Visa in a report on Monday, July 25th. Piper Jaffray Cos. restated an “overweight” rating and issued a $94.00 price objective on shares of Visa in a report on Friday, August 5th. Finally, Stifel Nicolaus upped their price objective on Visa from $86.00 to $91.00 and gave the company a “buy” rating in a report on Friday, July 22nd. Four equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $88.94.
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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