RS Investment Management Co. LLC cut its position in Visa Inc. (NYSE:V) by 43.0% during the second quarter, Holdings Channel reports. The fund owned 79,382 shares of the credit-card processor’s stock after selling 59,860 shares during the period. RS Investment Management Co. LLC’s holdings in Visa were worth $5,888,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in V. Iowa State Bank bought a new position in Visa during the second quarter valued at about $111,000. West Oak Capital LLC raised its position in Visa by 245.5% in the second quarter. West Oak Capital LLC now owns 1,534 shares of the credit-card processor’s stock valued at $114,000 after buying an additional 1,090 shares during the last quarter. WealthTrust Arizona LLC raised its position in Visa by 0.9% in the second quarter. WealthTrust Arizona LLC now owns 2,393 shares of the credit-card processor’s stock valued at $177,000 after buying an additional 21 shares during the last quarter. Invictus RG raised its position in Visa by 144.2% in the first quarter. Invictus RG now owns 2,454 shares of the credit-card processor’s stock valued at $188,000 after buying an additional 1,449 shares during the last quarter. Finally, Arcadia Investment Management Corp MI raised its position in Visa by 67.3% in the second quarter. Arcadia Investment Management Corp MI now owns 2,700 shares of the credit-card processor’s stock valued at $200,000 after buying an additional 1,086 shares during the last quarter. Hedge funds and other institutional investors own 80.08% of the company’s stock.
Shares of Visa Inc. (NYSE:V) traded up 0.95% during midday trading on Friday, hitting $82.70. The stock had a trading volume of 9,776,837 shares. The firm’s 50-day moving average price is $81.68 and its 200-day moving average price is $78.74. Visa Inc. has a 1-year low of $66.12 and a 1-year high of $83.79. The stock has a market cap of $195.17 billion, a price-to-earnings ratio of 35.15 and a beta of 0.91.
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, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.03. The company earned $3.63 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Visa had a return on equity of 22.36% and a net margin of 38.72%. Analysts forecast that Visa Inc. will post $2.79 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Friday, August 19th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Wednesday, August 17th. Visa’s dividend payout ratio (DPR) is presently 24.35%.
Several research firms have recently weighed in on V. Robert W. Baird lifted their price objective on Visa from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, September 6th. Deutsche Bank AG reiterated a “buy” rating and set a $87.00 price objective on shares of Visa in a report on Tuesday, September 6th. Pacific Crest set a $92.00 price objective on Visa and gave the company a “buy” rating in a report on Wednesday, September 14th. Barclays PLC lifted their price objective on Visa from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, September 12th. Finally, Oppenheimer Holdings Inc. lifted their price objective on Visa from $85.00 to $90.00 and gave the company a “buy” rating in a report on Friday, June 10th. Four analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $88.54.
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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