Cumberland Partners Ltd lowered its position in Visa Inc. (NYSE:V) by 5.7% during the second quarter, Holdings Channel reports. The firm owned 190,447 shares of the credit-card processor’s stock after selling 11,608 shares during the period. Visa accounts for about 2.0% of Cumberland Partners Ltd’s investment portfolio, making the stock its 19th largest position. Cumberland Partners Ltd’s holdings in Visa were worth $14,126,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fox Run Management L.L.C. bought a new position in shares of Visa during the first quarter valued at $619,000. Private Trust Co. NA raised its position in shares of Visa by 0.9% in the first quarter. Private Trust Co. NA now owns 31,841 shares of the credit-card processor’s stock valued at $2,434,000 after buying an additional 294 shares during the last quarter. V Wealth Management LLC bought a new position in shares of Visa during the first quarter valued at $845,000. Wendell David Associates Inc. raised its position in shares of Visa by 3.0% in the first quarter. Wendell David Associates Inc. now owns 6,100 shares of the credit-card processor’s stock valued at $464,000 after buying an additional 175 shares during the last quarter. Finally, Boston Advisors LLC raised its position in shares of Visa by 126.3% in the first quarter. Boston Advisors LLC now owns 517,836 shares of the credit-card processor’s stock valued at $39,604,000 after buying an additional 289,055 shares during the last quarter. Institutional investors and hedge funds own 80.08% of the company’s stock.
Shares of Visa Inc. (NYSE:V) traded up 0.75% on Wednesday, hitting $83.35. 6,163,375 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $81.88 and its 200 day moving average price is $79.00. Visa Inc. has a 1-year low of $66.12 and a 1-year high of $83.79. The company has a market cap of $196.70 billion, a price-to-earnings ratio of 35.42 and a beta of 0.95.
Visa (NYSE:V) last issued its earnings results on Thursday, July 21st. The credit-card processor reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.03. Visa had a net margin of 38.72% and a return on equity of 22.36%. The company had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.67 billion. On average, equities research analysts expect that Visa Inc. will post $2.79 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Friday, August 19th were paid a $0.14 dividend. The ex-dividend date was Wednesday, August 17th. This represents a $0.56 annualized dividend and a dividend yield of 0.67%. Visa’s dividend payout ratio is presently 24.35%.
Several brokerages have weighed in on V. Robert W. Baird restated an “outperform” rating and set a $95.00 target price on shares of Visa in a research report on Tuesday. Zacks Investment Research raised shares of Visa from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a report on Tuesday. Pacific Crest set a $92.00 price target on shares of Visa and gave the company a “buy” rating in a report on Wednesday, September 14th. Barclays PLC upped their price target on shares of Visa from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, September 12th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $87.00 price target on shares of Visa in a report on Tuesday, September 6th. Four analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. Visa presently has a consensus rating of “Buy” and an average target price of $88.69.
Visa Inc is a payments technology company. The Company is engaged in operating a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions across the world. The Company provides its services to consumers, businesses, financial institutions and governments in more than 200 countries and territories for electronic payments.
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