Osher Van de Voorde Investment Management reduced its stake in Visa Inc. (NYSE:V) by 10.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 99,246 shares of the credit-card processor’s stock after selling 11,200 shares during the period. Visa comprises 4.8% of Osher Van de Voorde Investment Management’s portfolio, making the stock its 3rd largest position. Osher Van de Voorde Investment Management’s holdings in Visa were worth $8,820,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Integrated Investment Consultants LLC boosted its stake in shares of Visa by 0.7% in the first quarter. Integrated Investment Consultants LLC now owns 2,961 shares of the credit-card processor’s stock valued at $263,000 after buying an additional 20 shares during the period. Mercer Capital Advisers Inc. boosted its stake in shares of Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock valued at $104,000 after buying an additional 25 shares during the period. Smithfield Trust Co. boosted its stake in shares of Visa by 0.3% in the first quarter. Smithfield Trust Co. now owns 9,047 shares of the credit-card processor’s stock valued at $804,000 after buying an additional 25 shares during the last quarter. Nicolet Bankshares Inc. boosted its stake in shares of Visa by 0.3% in the first quarter. Nicolet Bankshares Inc. now owns 9,312 shares of the credit-card processor’s stock valued at $828,000 after buying an additional 27 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of Visa by 0.5% in the first quarter. Sequoia Financial Advisors LLC now owns 5,994 shares of the credit-card processor’s stock valued at $533,000 after buying an additional 27 shares during the last quarter. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Visa Inc. (NYSE V) opened at 100.89 on Monday. The firm’s 50-day moving average price is $96.32 and its 200-day moving average price is $91.20. Visa Inc. has a 12-month low of $75.17 and a 12-month high of $101.34. The stock has a market cap of $230.68 billion, a price-to-earnings ratio of 37.52 and a beta of 0.94.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, beating 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 analysts’ expectations of $4.36 billion. During the same quarter last year, the company posted $0.69 EPS. The firm’s revenue was up 25.8% compared to the same quarter last year. On average, analysts forecast that Visa Inc. will post $3.43 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be given a $0.165 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $0.66 annualized dividend and a yield of 0.65%. Visa’s dividend payout ratio is presently 24.54%.

Visa announced that its board has initiated a stock buyback program on Thursday, April 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the credit-card processor to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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Several brokerages have weighed in on V. Vetr raised Visa from a “hold” rating to a “buy” rating and set a $100.12 price objective on the stock in a research note on Tuesday, June 27th. Instinet boosted their price objective on Visa from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Wells Fargo & Company reissued a “market perform” rating and set a $100.00 price objective (up from $87.50) on shares of Visa in a research note on Saturday, July 22nd. Citigroup Inc. reissued a “buy” rating and set a $115.00 price objective (up from $100.00) on shares of Visa in a research note on Monday, July 24th. Finally, Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Four analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $104.56.

In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total value of $3,004,292.52. Following the completion of the transaction, the executive vice president now owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

About Visa

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.

Institutional Ownership by Quarter for Visa (NYSE:V)

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