CRA Financial Services LLC reduced its position in shares of Visa Inc. (NYSE:V – Free Report) by 0.3% in the second quarter, Holdings Channel reports. The firm owned 17,246 shares of the credit-card processor’s stock after selling 46 shares during the quarter. Visa accounts for 1.1% of CRA Financial Services LLC’s holdings, making the stock its 19th biggest holding. CRA Financial Services LLC’s holdings in Visa were worth $4,095,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BCK Partners Inc. bought a new position in Visa during the 1st quarter valued at about $2,717,000. Markel Corp lifted its position in Visa by 0.3% during the first quarter. Markel Corp now owns 961,105 shares of the credit-card processor’s stock valued at $213,144,000 after purchasing an additional 3,065 shares during the period. AMI Investment Management Inc. purchased a new stake in Visa in the first quarter worth approximately $2,323,000. Ergoteles LLC bought a new stake in Visa in the 1st quarter worth approximately $538,000. Finally, XTX Topco Ltd purchased a new stake in Visa during the 1st quarter valued at $1,496,000. Institutional investors own 81.35% of the company’s stock.
Analyst Ratings Changes
Several brokerages recently commented on V. Barclays lifted their price objective on Visa from $272.00 to $287.00 and gave the stock an “overweight” rating in a report on Monday, July 24th. Mizuho reaffirmed a “neutral” rating and set a $255.00 price target on shares of Visa in a research report on Tuesday, August 29th. Royal Bank of Canada raised their price objective on shares of Visa from $265.00 to $290.00 in a report on Wednesday, July 26th. Credit Suisse Group upped their target price on shares of Visa from $265.00 to $275.00 in a report on Wednesday, July 26th. Finally, StockNews.com assumed coverage on shares of Visa in a research note on Thursday, August 17th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $273.77.
Insider Buying and Selling at Visa
In other news, insider Rajat Taneja sold 2,300 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total value of $552,000.00. Following the sale, the insider now directly owns 232,112 shares in the company, valued at approximately $55,706,880. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Ryan Mcinerney sold 425 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $240.00, for a total value of $102,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rajat Taneja sold 2,300 shares of Visa stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total value of $552,000.00. Following the completion of the transaction, the insider now owns 232,112 shares of the company’s stock, valued at approximately $55,706,880. The disclosure for this sale can be found here. Insiders sold 81,550 shares of company stock worth $19,795,806 over the last 90 days. 0.21% of the stock is owned by insiders.
Visa Trading Up 1.5 %
Shares of Visa stock opened at $244.64 on Tuesday. Visa Inc. has a twelve month low of $174.60 and a twelve month high of $250.06. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average price of $241.67 and a 200-day moving average price of $232.37. The firm has a market cap of $455.48 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 1.81 and a beta of 0.95.
Visa (NYSE:V – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.05. The business had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $8.06 billion. Visa had a return on equity of 49.42% and a net margin of 51.94%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.98 EPS. Equities research analysts anticipate that Visa Inc. will post 8.65 EPS for the current fiscal year.
Visa Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Thursday, August 10th. Visa’s payout ratio is 22.84%.
Visa Inc operates as a payments technology company worldwide. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; and Visa DPS that provides a range of value added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.
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