Tower Bridge Advisors Sells 6,341 Shares of Visa Inc. (V)
Tower Bridge Advisors decreased its position in shares of Visa Inc. (NYSE:V) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 177,265 shares of the credit-card processor’s stock after selling 6,341 shares during the period. Visa comprises 1.9% of Tower Bridge Advisors’ holdings, making the stock its 9th largest holding. Tower Bridge Advisors’ holdings in Visa were worth $16,624,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Clearbridge Investments LLC boosted its position in Visa by 41.4% in the first quarter. Clearbridge Investments LLC now owns 9,145,672 shares of the credit-card processor’s stock valued at $812,776,000 after buying an additional 2,677,533 shares in the last quarter. Swiss National Bank boosted its position in Visa by 23.2% in the first quarter. Swiss National Bank now owns 7,360,428 shares of the credit-card processor’s stock valued at $654,121,000 after buying an additional 1,388,200 shares in the last quarter. Akre Capital Management LLC boosted its position in Visa by 35.0% in the first quarter. Akre Capital Management LLC now owns 4,889,020 shares of the credit-card processor’s stock valued at $434,487,000 after buying an additional 1,267,080 shares in the last quarter. Karp Capital Management Corp boosted its position in Visa by 3,256.5% in the first quarter. Karp Capital Management Corp now owns 970,495 shares of the credit-card processor’s stock valued at $86,248,000 after buying an additional 941,581 shares in the last quarter. Finally, MUFG Securities EMEA plc boosted its position in Visa by 7.0% in the first quarter. MUFG Securities EMEA plc now owns 11,768,474 shares of the credit-card processor’s stock valued at $1,045,864,000 after buying an additional 775,000 shares in the last quarter. Institutional investors and hedge funds own 81.68% of the company’s stock.
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In related news, Director Mary B. Cranston sold 10,400 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $103.32, for a total value of $1,074,528.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $100.91, for a total transaction 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 $1,751,797.60. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.
A number of brokerages have weighed in on V. Vetr upgraded shares of Visa from a “sell” rating to a “hold” rating and set a $105.08 target price on the stock in a research report on Wednesday, September 13th. BMO Capital Markets restated an “outperform” rating on shares of Visa in a research report on Tuesday, September 12th. KeyCorp restated a “buy” rating and issued a $110.00 target price on shares of Visa in a research report on Friday, August 25th. UBS AG restated an “overweight” rating on shares of Visa in a research report on Thursday, August 24th. Finally, Robert W. Baird restated a “buy” rating on shares of Visa in a research report on Thursday, August 24th. Four research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. Visa currently has an average rating of “Buy” and an average target price of $105.35.
Visa Inc. (NYSE V) opened at 104.83 on Tuesday. The stock’s 50 day moving average is $102.98 and its 200-day moving average is $95.43. The firm has a market capitalization of $239.69 billion, a PE ratio of 38.98 and a beta of 0.94. Visa Inc. has a one year low of $75.17 and a one year high of $106.84.
Visa (NYSE:V) last issued its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.36 billion. Visa had a net margin of 36.53% and a return on equity of 30.95%. Visa’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period last year, the business earned $0.69 EPS. On average, analysts anticipate that Visa Inc. will post $3.43 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Friday, August 18th were paid a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $0.66 annualized dividend and a dividend yield of 0.63%. Visa’s payout ratio is 24.54%.
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.
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