Sit Investment Associates Inc. cut its position in shares of Visa Inc. (NYSE:V) by 36.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 402,680 shares of the credit-card processor’s stock after selling 235,625 shares during the period. Sit Investment Associates Inc.’s holdings in Visa were worth $29,867,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the stock. Loomis Sayles & Co. L P raised its position in Visa by 6.9% in the first quarter. Loomis Sayles & Co. L P now owns 12,349,933 shares of the credit-card processor’s stock worth $944,523,000 after buying an additional 793,813 shares during the last quarter. Comgest Global Investors S.A.S. raised its position in shares of Visa by 6.3% in the second quarter. Comgest Global Investors S.A.S. now owns 852,100 shares of the credit-card processor’s stock worth $63,200,000 after buying an additional 50,600 shares in the last quarter. Calamos Advisors LLC raised its position in shares of Visa by 66.0% in the second quarter. Calamos Advisors LLC now owns 1,519,314 shares of the credit-card processor’s stock worth $112,688,000 after buying an additional 604,051 shares in the last quarter. Strs Ohio raised its position in shares of Visa by 4.1% in the second quarter. Strs Ohio now owns 2,663,883 shares of the credit-card processor’s stock worth $197,580,000 after buying an additional 104,300 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its position in shares of Visa by 2.7% in the first quarter. Pictet Asset Management Ltd. now owns 1,408,880 shares of the credit-card processor’s stock worth $101,989,000 after buying an additional 36,579 shares in the last quarter. Institutional investors own 80.06% of the company’s stock.
Shares of Visa Inc. (NYSE:V) traded down 0.36% during mid-day trading on Monday, hitting $82.15. The company had a trading volume of 8,473,733 shares. The firm has a market cap of $193.87 billion, a PE ratio of 34.91 and a beta of 0.95. Visa Inc. has a 12-month low of $66.12 and a 12-month high of $83.79. The firm’s 50 day moving average is $82.33 and its 200-day moving average is $79.45.
Visa (NYSE:V) last announced its quarterly earnings results on Thursday, July 21st. The credit-card processor reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. Visa had a return on equity of 22.36% and a net margin of 38.72%. The company earned $3.63 billion during the quarter, compared to analysts’ expectations of $3.67 billion. On average, equities analysts expect that Visa Inc. will post $2.79 EPS for the current year.
A number of research analysts recently weighed in on the company. Vetr lowered Visa from a “buy” rating to a “hold” rating and set a $83.12 price objective on the stock. in a report on Monday, August 8th. Zacks Investment Research raised Visa from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Tuesday, July 19th. Barclays PLC lowered their target price on Visa from $90.00 to $88.00 and set an “overweight” rating on the stock in a report on Thursday, July 7th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $90.00 target price on shares of Visa in a report on Friday, July 22nd. Finally, Jefferies Group reissued a “buy” rating and issued a $93.00 target price on shares of Visa in a report on Friday, July 22nd. Four investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $88.94.
Visa Company Profile
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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