Tompkins Financial Corp Holds Stake in Visa Inc. (V)
Tompkins Financial Corp held its stake in shares of Visa Inc. (NYSE:V) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,700 shares of the credit-card processor’s stock at the close of the second quarter. Tompkins Financial Corp’s holdings in Visa were worth $159,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Carret Asset Management LLC increased its holdings in Visa by 4.5% in the 1st quarter. Carret Asset Management LLC now owns 27,037 shares of the credit-card processor’s stock worth $2,403,000 after buying an additional 1,153 shares during the period. DE Burlo Group Inc. increased its holdings in Visa by 65.9% in the 1st quarter. DE Burlo Group Inc. now owns 145,000 shares of the credit-card processor’s stock worth $12,886,000 after buying an additional 57,600 shares during the period. Achmea Investment Management B.V. acquired a new position in Visa in the 1st quarter worth approximately $7,938,000. Aberdeen Asset Management PLC UK increased its holdings in Visa by 5.6% in the 1st quarter. Aberdeen Asset Management PLC UK now owns 5,470,559 shares of the credit-card processor’s stock worth $486,168,000 after buying an additional 290,480 shares during the period. Finally, National Asset Management Inc. increased its holdings in Visa by 5.4% in the 1st quarter. National Asset Management Inc. now owns 25,136 shares of the credit-card processor’s stock worth $2,237,000 after buying an additional 1,298 shares during the period. Institutional investors own 81.68% of the company’s stock.
V has been the topic of a number of analyst reports. Vetr raised shares of 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 raised their price objective on shares of 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 reaffirmed a “market perform” rating and set a $100.00 price objective (up previously from $87.50) on shares of Visa in a research note on Saturday, July 22nd. Citigroup Inc. reaffirmed a “buy” rating and set a $115.00 price objective (up previously from $100.00) on shares of Visa in a research note on Monday, July 24th. Finally, Zacks Investment Research cut shares of Visa from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Four research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. Visa presently has a consensus rating of “Buy” and an average target price of $106.42.
Shares of Visa Inc. (NYSE:V) traded up 0.24% during midday trading on Friday, reaching $105.56. The company’s stock had a trading volume of 4,959,424 shares. Visa Inc. has a 1-year low of $75.17 and a 1-year high of $106.84. The firm has a market capitalization of $241.36 billion, a PE ratio of 39.26 and a beta of 0.94. The company’s 50-day moving average price is $103.15 and its 200 day moving average price is $95.55.
Visa (NYSE:V) last announced its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. The business’s revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. On average, equities research analysts forecast that Visa Inc. will post $3.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Wednesday, August 16th. Visa’s payout ratio is currently 24.54%.
In other Visa news, Director Mary B. Cranston sold 10,400 shares of Visa stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total transaction of $1,074,528.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction 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 sale, the executive vice president now directly owns 17,360 shares in the company, valued at approximately $1,751,797.60. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.
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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