Visa Inc (V) Stake Lowered by Ardevora Asset Management LLP
Ardevora Asset Management LLP decreased its holdings in shares of Visa Inc (NYSE:V) by 18.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 267,619 shares of the credit-card processor’s stock after selling 58,756 shares during the period. Visa comprises 1.0% of Ardevora Asset Management LLP’s investment portfolio, making the stock its 14th largest holding. Ardevora Asset Management LLP’s holdings in Visa were worth $35,446,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of V. Earnest Partners LLC bought a new stake in Visa in the 4th quarter worth approximately $100,000. Financial Gravity Companies Inc. bought a new stake in Visa in the 4th quarter worth approximately $112,000. Slow Capital Inc. bought a new stake in Visa in the 4th quarter worth approximately $132,000. Bedel Financial Consulting Inc. bought a new stake in Visa in the 1st quarter worth approximately $176,000. Finally, Risk Paradigm Group LLC lifted its position in Visa by 38.0% in the 4th quarter. Risk Paradigm Group LLC now owns 1,561 shares of the credit-card processor’s stock worth $178,000 after buying an additional 430 shares during the last quarter. 80.27% of the stock is owned by institutional investors.
A number of analysts recently weighed in on V shares. UBS Group started coverage on Visa in a research report on Friday, May 18th. They issued a “neutral” rating and a $141.00 target price for the company. Wedbush boosted their target price on Visa from $135.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 6th. Buckingham Research boosted their target price on Visa from $152.00 to $169.00 and gave the stock a “buy” rating in a research report on Tuesday, June 26th. Wells Fargo & Co boosted their price objective on Visa from $143.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, July 12th. Finally, Oppenheimer boosted their price objective on Visa from $143.00 to $154.00 and gave the company an “outperform” rating in a research report on Tuesday, July 17th. Three investment analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. Visa has a consensus rating of “Buy” and a consensus price target of $149.35.
Shares of Visa stock opened at $147.63 on Friday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.60. The company has a market cap of $295.96 billion, a P/E ratio of 42.42, a price-to-earnings-growth ratio of 1.80 and a beta of 1.09. Visa Inc has a 52 week low of $102.75 and a 52 week high of $148.07.
Visa (NYSE:V) last announced its earnings results on Wednesday, July 25th. The credit-card processor reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.11. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.09 billion. Visa had a return on equity of 36.09% and a net margin of 47.91%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. equities analysts predict that Visa Inc will post 4.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Friday, August 17th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.57%. Visa’s dividend payout ratio is presently 24.14%.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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