Founders Capital Management lowered its position in shares of Visa Inc. (NYSE:V – Free Report) by 23.8% in the second quarter, Holdings Channel reports. The firm owned 800 shares of the credit-card processor’s stock after selling 250 shares during the period. Founders Capital Management’s holdings in Visa were worth $190,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Radnor Capital Management LLC boosted its holdings in Visa by 15.7% during the second quarter. Radnor Capital Management LLC now owns 9,555 shares of the credit-card processor’s stock worth $2,269,000 after purchasing an additional 1,300 shares during the last quarter. Grandview Asset Management LLC raised its position in shares of Visa by 9.6% in the second quarter. Grandview Asset Management LLC now owns 6,227 shares of the credit-card processor’s stock valued at $1,479,000 after purchasing an additional 548 shares during the period. Woodstock Corp raised its position in shares of Visa by 8.8% in the second quarter. Woodstock Corp now owns 34,614 shares of the credit-card processor’s stock valued at $8,220,000 after purchasing an additional 2,812 shares during the period. Indiana Trust & Investment Management CO increased its position in Visa by 0.8% during the second quarter. Indiana Trust & Investment Management CO now owns 8,861 shares of the credit-card processor’s stock worth $2,104,000 after acquiring an additional 70 shares during the period. Finally, Nexus Investment Management ULC increased its position in Visa by 9.8% during the second quarter. Nexus Investment Management ULC now owns 1,098 shares of the credit-card processor’s stock worth $261,000 after acquiring an additional 98 shares during the period. Institutional investors and hedge funds own 81.35% of the company’s stock.
Insider Buying and Selling
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 value of $5,766,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Rajat Taneja sold 22,700 shares of the business’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $240.21, for a total value of $5,452,767.00. Following the sale, the insider now directly owns 232,112 shares in the company, valued at approximately $55,755,623.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $5,766,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 81,550 shares of company stock valued at $19,795,806. 0.22% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Visa Stock Performance
NYSE V opened at $241.00 on Friday. The company has a fifty day simple moving average of $241.58 and a 200 day simple moving average of $232.04. Visa Inc. has a 12-month low of $174.60 and a 12-month high of $250.06. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. The company has a market cap of $448.70 billion, a P/E ratio of 30.58, a PEG ratio of 1.81 and a beta of 0.95.
Visa (NYSE:V – Get Free Report) last posted 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 firm had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $8.06 billion. Visa had a net margin of 51.94% and a return on equity of 49.42%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.98 EPS. Sell-side analysts predict that Visa Inc. will post 8.65 earnings per share for the current fiscal year.
Visa Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Thursday, August 10th. Visa’s dividend 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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