CenterBook Partners LP trimmed its holdings in Visa Inc. (NYSE:V – Free Report) by 30.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,361 shares of the credit-card processor’s stock after selling 9,317 shares during the period. Visa makes up 0.7% of CenterBook Partners LP’s investment portfolio, making the stock its 26th biggest holding. CenterBook Partners LP’s holdings in Visa were worth $4,816,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Financial Freedom LLC bought a new position in Visa in the 4th quarter valued at $32,000. Ridgewood Investments LLC bought a new stake in shares of Visa during the 1st quarter worth $35,000. Kalos Management Inc. bought a new stake in shares of Visa during the 1st quarter worth $40,000. NewSquare Capital LLC lifted its holdings in shares of Visa by 121.9% during the 1st quarter. NewSquare Capital LLC now owns 213 shares of the credit-card processor’s stock worth $48,000 after acquiring an additional 117 shares during the last quarter. Finally, Moisand Fitzgerald Tamayo LLC lifted its holdings in shares of Visa by 666.7% during the 1st quarter. Moisand Fitzgerald Tamayo LLC now owns 230 shares of the credit-card processor’s stock worth $52,000 after acquiring an additional 200 shares during the last quarter. 81.35% of the stock is owned by institutional investors.
Analyst Ratings Changes
V has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price objective on shares of Visa from $265.00 to $290.00 in a report on Wednesday, July 26th. Raymond James lifted their price objective on shares of Visa from $282.00 to $284.00 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. Susquehanna lifted their price objective on shares of Visa from $266.00 to $300.00 in a report on Wednesday, July 26th. Jefferies Financial Group boosted their price target on shares of Visa from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Finally, Wells Fargo & Company boosted their price target on shares of Visa from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $273.77.
Insider Activity at Visa
In related news, CEO Ryan Mcinerney sold 24,025 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 transaction of $5,766,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Rajat Taneja sold 22,700 shares of the business’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $240.21, for a total transaction of $5,452,767.00. Following the sale, the insider now owns 232,112 shares of the company’s stock, valued at $55,755,623.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 24,025 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total transaction of $5,766,000.00. The disclosure for this sale can be found here. Insiders have sold 65,750 shares of company stock worth $15,845,648 over the last 90 days. 0.22% of the stock is owned by company insiders.
Visa Trading Up 0.1 %
Shares of NYSE V traded up $0.15 during midday trading on Friday, hitting $247.29. 3,309,819 shares of the company traded hands, compared to its average volume of 3,943,795. Visa Inc. has a 12-month low of $174.60 and a 12-month high of $248.87. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a 50-day moving average price of $240.99 and a 200 day moving average price of $231.41. The firm has a market cap of $460.41 billion, a P/E ratio of 31.38, a P/E/G ratio of 1.86 and a beta of 0.95.
Visa (NYSE:V – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.05. Visa had a net margin of 51.94% and a return on equity of 49.42%. The company had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter in the previous year, the company earned $1.98 earnings per share. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, analysts expect that Visa Inc. will post 8.65 earnings per share for the current year.
Visa Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Thursday, August 10th. Visa’s dividend payout ratio is currently 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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