Weatherly Asset Management L. P. boosted its stake in shares of Visa Inc (NYSE:V) by 23.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,294 shares of the credit-card processor’s stock after purchasing an additional 3,526 shares during the period. Weatherly Asset Management L. P.’s holdings in Visa were worth $2,423,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Montreal Can bought a new stake in Visa in the second quarter worth approximately $727,019,000. Amundi Pioneer Asset Management Inc. grew its position in Visa by 53.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 3,929,346 shares of the credit-card processor’s stock worth $470,029,000 after acquiring an additional 1,363,772 shares in the last quarter. Gateway Investment Advisers LLC bought a new stake in Visa in the second quarter worth approximately $146,859,000. Welch & Forbes LLC bought a new stake in Visa in the second quarter worth approximately $110,750,000. Finally, BTIM Corp. bought a new stake in Visa in the second quarter worth approximately $102,131,000. 80.27% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have commented on V. Royal Bank of Canada boosted their target price on shares of Visa to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 5th. Bank of America boosted their target price on shares of Visa from $155.00 to $163.00 and gave the stock a “buy” rating in a research report on Monday, August 13th. Zacks Investment Research downgraded shares of Visa from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. Cantor Fitzgerald boosted their target price on shares of Visa to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, July 26th. Finally, SunTrust Banks boosted their target price on shares of Visa to $170.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $149.35.

In related news, CFO Vasant M. Prabhu sold 25,064 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $140.56, for a total transaction of $3,522,995.84. Following the completion of the transaction, the chief financial officer now directly owns 58,232 shares in the company, valued at approximately $8,185,089.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP James H. Hoffmeister sold 6,912 shares of the company’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $140.01, for a total transaction of $967,749.12. Following the transaction, the senior vice president now owns 6,912 shares of the company’s stock, valued at $967,749.12. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

NYSE:V opened at $147.84 on Friday. The firm has a market cap of $298.16 billion, a P/E ratio of 42.48, a P/E/G ratio of 1.81 and a beta of 1.09. Visa Inc has a one year low of $102.75 and a one year high of $148.37. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.60.

Visa (NYSE:V) last released its earnings results on Wednesday, July 25th. The credit-card processor reported $1.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.11. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.09 billion. Visa had a net margin of 47.91% and a return on equity of 36.09%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 EPS. analysts forecast that Visa Inc will post 4.61 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Friday, August 17th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.57%. The ex-dividend date was Thursday, August 16th. Visa’s payout ratio is currently 24.14%.

Visa Profile

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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Institutional Ownership by Quarter for Visa (NYSE:V)

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