Addenda Capital Inc. trimmed its holdings in Visa Inc. (NYSE:V – Get Rating) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,526 shares of the credit-card processor’s stock after selling 107 shares during the quarter. Addenda Capital Inc.’s holdings in Visa were worth $14,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Landmark Wealth Management LLC acquired a new position in Visa during the 1st quarter worth approximately $32,000. Rise Advisors LLC acquired a new position in Visa during the 4th quarter worth approximately $35,000. Monumental Financial Group Inc. acquired a new position in Visa during the 1st quarter worth approximately $35,000. James Investment Research Inc. raised its stake in Visa by 1,400.0% during the 1st quarter. James Investment Research Inc. now owns 180 shares of the credit-card processor’s stock worth $40,000 after buying an additional 168 shares during the period. Finally, Rather & Kittrell Inc. purchased a new stake in shares of Visa in the fourth quarter worth approximately $43,000. 81.49% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $212.11, for a total value of $1,908,990.00. Following the sale, the chief executive officer now owns 156,887 shares in the company, valued at $33,277,301.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is currently owned by company insiders.
Visa Trading Down 0.7 %
Visa Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 12th were given a $0.375 dividend. The ex-dividend date was Thursday, August 11th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.81%. Visa’s dividend payout ratio (DPR) is presently 22.12%.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. Royal Bank of Canada lowered their price objective on Visa from $278.00 to $262.00 in a research note on Wednesday, July 27th. Susquehanna lowered their price objective on Visa from $290.00 to $260.00 in a research note on Thursday, July 28th. Macquarie lowered their price objective on Visa from $270.00 to $260.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Mizuho reduced their target price on Visa from $235.00 to $215.00 and set a “neutral” rating for the company in a report on Friday, July 1st. Finally, Daiwa Capital Markets lowered Visa from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $230.00 to $225.00 in a report on Tuesday, August 16th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average target price of $257.64.
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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