Alleghany Corp DE cut its position in Visa Inc. (NYSE:V) by 50.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,500,000 shares of the credit-card processor’s stock after selling 1,500,000 shares during the period. Visa comprises about 4.3% of Alleghany Corp DE’s portfolio, making the stock its 9th largest position. Alleghany Corp DE owned 0.06% of Visa worth $111,255,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in V. Davis R M Inc. raised its stake in Visa by 16.9% in the first quarter. Davis R M Inc. now owns 286,440 shares of the credit-card processor’s stock worth $21,907,000 after buying an additional 41,395 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Visa during the first quarter worth about $619,000. Private Trust Co. NA raised its stake in Visa by 0.9% in the first quarter. Private Trust Co. NA now owns 31,841 shares of the credit-card processor’s stock worth $2,434,000 after buying an additional 294 shares in the last quarter. V Wealth Management LLC purchased a new stake in Visa during the first quarter worth about $845,000. Finally, Wendell David Associates Inc. raised its stake in Visa by 3.0% in the first quarter. Wendell David Associates Inc. now owns 6,100 shares of the credit-card processor’s stock worth $464,000 after buying an additional 175 shares in the last quarter. Institutional investors and hedge funds own 80.08% of the company’s stock.
Shares of Visa Inc. (NYSE:V) opened at 82.86 on Tuesday. Visa Inc. has a 12 month low of $66.12 and a 12 month high of $83.79. The company’s 50 day moving average is $81.76 and its 200-day moving average is $78.91. The firm has a market cap of $195.55 billion, a PE ratio of 35.21 and a beta of 0.95.
Visa (NYSE:V) last posted its quarterly earnings results on Thursday, July 21st. The credit-card processor reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. The business earned $3.63 billion during the quarter, compared to the consensus estimate of $3.67 billion. Visa had a return on equity of 22.36% and a net margin of 38.72%. Equities research analysts predict that Visa Inc. will post $2.79 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Friday, August 19th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Wednesday, August 17th. Visa’s dividend payout ratio (DPR) is presently 24.35%.
A number of equities research analysts have recently issued reports on the stock. Robert W. Baird boosted their price target on shares of Visa from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, September 6th. Deutsche Bank AG restated a “buy” rating and set a $87.00 price target on shares of Visa in a report on Tuesday, September 6th. 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 boosted 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, Oppenheimer Holdings Inc. upped their price objective on shares of Visa from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, June 10th. Four equities research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price 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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