Jacobs & Co. CA Sells 1,342 Shares of Visa Inc. $V

Jacobs & Co. CA cut its holdings in Visa Inc. (NYSE:V) by 1.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,359 shares of the credit-card processor’s stock after selling 1,342 shares during the period. Visa comprises approximately 2.9% of Jacobs & Co. CA’s investment portfolio, making the stock its 6th biggest holding. Jacobs & Co. CA’s holdings in Visa were worth $29,241,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Yeomans Consulting Group Inc. lifted its stake in Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock valued at $360,000 after acquiring an additional 29 shares in the last quarter. Semus Wealth Partners LLC lifted its stake in Visa by 0.8% during the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock valued at $1,209,000 after acquiring an additional 29 shares in the last quarter. Headinvest LLC lifted its stake in Visa by 0.8% during the 4th quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor’s stock valued at $1,265,000 after acquiring an additional 30 shares in the last quarter. Kennebec Savings Bank lifted its stake in Visa by 0.9% during the 1st quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor’s stock valued at $1,182,000 after acquiring an additional 30 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its stake in Visa by 0.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 3,839 shares of the credit-card processor’s stock valued at $1,345,000 after acquiring an additional 30 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Visa Trading Down 1.2%

Shares of V opened at $339.33 on Friday. The business has a 50-day moving average of $347.03 and a 200 day moving average of $346.94. Visa Inc. has a fifty-two week low of $268.23 and a fifty-two week high of $375.51. The firm has a market cap of $621.92 billion, a P/E ratio of 33.14, a price-to-earnings-growth ratio of 2.29 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same quarter last year, the firm posted $2.42 EPS. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa’s dividend payout ratio (DPR) is 23.05%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Citigroup assumed coverage on Visa in a research note on Monday, June 2nd. They set a “buy” rating on the stock. Jefferies Financial Group raised their price objective on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. Barclays reaffirmed an “overweight” rating and set a $408.00 target price (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Oppenheimer raised their target price on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Finally, Macquarie raised their target price on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $385.96.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.