2 weeks Ago By ABMN Staff
The Manufacturers Life Insurance Company trimmed its position in Visa Inc. ( NYSE:V – Free Report ) by 28.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC).
The firm owned 2,014,305 shares of the credit-card processor’s stock after selling 802,152 shares during the quarter. The Manufacturers Life Insurance Company owned 0.11% of Visa worth $528,719,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the company. Livelsberger Financial Advisory purchased a new position in Visa in the 4th quarter worth approximately $25,000. Westend Capital Management LLC purchased a new position in shares of Visa in the first quarter valued at $25,000.
POM Investment Strategies LLC grew its holdings in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares in the last quarter.
Frank Rimerman Advisors LLC purchased a new stake in Visa during the 4th quarter worth $33,000. Finally, TruNorth Capital Management LLC lifted its holdings in Visa by 211.9% in the 2nd quarter.
TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.
Visa Trading Up 0.8 % Shares of NYSE V opened at $271.69 on Friday.
The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.
54. Visa Inc. has a 12 month low of $227.
78 and a 12 month high of $293.07. The company has a market cap of $496.
90 billion, a price-to-earnings ratio of 30.36, a P/E/G ratio of 1.92 and a beta of 0.
96. The business has a fifty day simple moving average of $271.12 and a 200-day simple moving average of $273.
39. Visa Announces Dividend The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a $0.
52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.
77%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is 23.
24%. Insider Buying and Selling In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.
37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.
06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink . 0.
19% of the stock is currently owned by corporate insiders. Analyst Ratings Changes A number of equities analysts have issued reports on V shares. TD Cowen cut their target price on Visa from $320.
00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Compass Point initiated coverage on shares of Visa in a research note on Wednesday, September 4th.
They set a “buy” rating and a $319.00 price objective on the stock. StockNews.
com raised shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research note on Tuesday, September 3rd.
Finally, Jefferies Financial Group decreased their price target on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th.
Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $310.22.
View Our Latest Stock Analysis on V Visa Company Profile ( Free Report ) Visa Inc operates as a payment technology company in the United States and internationally. 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, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; 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.
Further Reading Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. ( NYSE:V – Free Report ).
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