Hartford Investment Management Co. lessened its holdings in shares of Visa Inc. (NYSE:V) by 4.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 419,796 shares of the credit-card processor’s stock after selling 17,399 shares during the quarter. Visa accounts for 0.8% of Hartford Investment Management Co.’s portfolio, making the stock its 26th largest position. Hartford Investment Management Co.’s holdings in Visa were worth $39,368,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Mercer Capital Advisers Inc. grew its stake in Visa by 2.2% during the 1st quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock valued at $104,000 after purchasing an additional 25 shares in the last quarter. Mascoma Wealth Management LLC acquired a new stake in Visa during the 2nd quarter valued at approximately $122,000. SpiderRock Advisors LLC grew its stake in Visa by 107.1% during the 2nd quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock valued at $124,000 after purchasing an additional 19,709 shares in the last quarter. Advantage Investment Management LLC grew its stake in Visa by 27.4% during the 1st quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock valued at $130,000 after purchasing an additional 314 shares in the last quarter. Finally, Delta Asset Management LLC TN grew its stake in Visa by 2.5% during the 1st quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock valued at $137,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 81.74% of the company’s stock.
Visa Inc. (NYSE V) traded down 0.23% during mid-day trading on Tuesday, hitting $105.91. The stock had a trading volume of 3,020,364 shares. The firm has a market cap of $242.16 billion, a P/E ratio of 39.39 and a beta of 0.94. The stock has a 50 day moving average of $102.05 and a 200-day moving average of $94.72. Visa Inc. has a 1-year low of $75.17 and a 1-year high of $106.64.
Visa (NYSE:V) last announced its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.05. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period last year, the company earned $0.69 EPS. Analysts predict that Visa Inc. will post $3.42 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Wednesday, August 16th. Visa’s dividend payout ratio (DPR) is currently 24.54%.
In other news, Director Mary B. Cranston sold 10,400 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total value of $1,074,528.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total value of $3,004,292.52. Following the completion of the transaction, the executive vice president now directly owns 17,360 shares in the company, valued at approximately $1,751,797.60. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
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V has been the subject of a number of recent analyst reports. Oppenheimer Holdings, Inc. raised their price objective on Visa from $100.00 to $106.00 in a research note on Tuesday, July 18th. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $100.12 price objective for the company in a research note on Tuesday, June 27th. Mizuho initiated coverage on Visa in a research note on Tuesday, June 27th. They set a “buy” rating and a $115.00 price objective for the company. Jefferies Group LLC restated a “buy” rating and set a $104.00 price objective on shares of Visa in a research note on Sunday, June 25th. Finally, BidaskClub lowered Visa from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Visa presently has an average rating of “Buy” and an average price target of $104.77.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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