Brightworth Lowers Position in Visa Inc (V)
Brightworth reduced its stake in Visa Inc (NYSE:V) by 7.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,826 shares of the credit-card processor’s stock after selling 5,320 shares during the period. Visa makes up 2.1% of Brightworth’s portfolio, making the stock its 6th largest holding. Brightworth’s holdings in Visa were worth $8,719,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stifel Financial Corp increased its holdings in Visa by 2.6% in the 1st quarter. Stifel Financial Corp now owns 1,866,738 shares of the credit-card processor’s stock valued at $223,368,000 after acquiring an additional 47,939 shares during the last quarter. Wealthstreet Investment Advisors LLC increased its holdings in shares of Visa by 2.1% in the 2nd quarter. Wealthstreet Investment Advisors LLC now owns 145,294 shares of the credit-card processor’s stock worth $19,244,000 after buying an additional 2,930 shares during the last quarter. Rossmore Private Capital increased its holdings in shares of Visa by 47.0% in the 2nd quarter. Rossmore Private Capital now owns 15,933 shares of the credit-card processor’s stock worth $2,110,000 after buying an additional 5,092 shares during the last quarter. Benson Investment Management Company Inc. increased its holdings in shares of Visa by 362.7% in the 2nd quarter. Benson Investment Management Company Inc. now owns 26,560 shares of the credit-card processor’s stock worth $3,518,000 after buying an additional 20,820 shares during the last quarter. Finally, 6 Meridian bought a new stake in shares of Visa in the 1st quarter worth about $6,393,000. Institutional investors own 80.13% of the company’s stock.
A number of analysts have recently weighed in on the stock. KeyCorp boosted their target price on shares of Visa from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, July 26th. Zacks Investment Research downgraded shares of Visa from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Buckingham Research boosted their target price on shares of Visa from $152.00 to $169.00 and gave the stock a “buy” rating in a report on Tuesday, June 26th. Wedbush boosted their target price on shares of Visa from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, June 6th. Finally, Bank of America boosted their target price on shares of Visa from $146.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, July 17th. Two research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company’s stock. Visa presently has an average rating of “Buy” and a consensus target price of $152.44.
Visa (NYSE:V) last issued its quarterly earnings results on Wednesday, July 25th. The credit-card processor reported $1.20 EPS for the quarter, beating the consensus estimate of $1.09 by $0.11. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.09 billion. Visa had a net margin of 47.91% and a return on equity of 36.09%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 EPS. equities analysts forecast that Visa Inc will post 4.61 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Friday, August 17th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $0.84 annualized dividend and a yield of 0.56%. Visa’s payout ratio is 24.14%.
In other Visa news, SVP James H. Hoffmeister sold 6,912 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $140.01, for a total value of $967,749.12. Following the completion of the sale, the senior vice president now directly owns 6,912 shares of the company’s stock, valued at approximately $967,749.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vasant M. Prabhu sold 25,064 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $140.56, for a total transaction of $3,522,995.84. Following the completion of the sale, the chief financial officer now directly owns 58,232 shares of the company’s stock, valued at $8,185,089.92. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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