Lincoln National Corp Sells 3,454 Shares of Visa Inc. (V)
Lincoln National Corp cut its position in Visa Inc. (NYSE:V) by 20.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,559 shares of the credit-card processor’s stock after selling 3,454 shares during the period. Lincoln National Corp’s holdings in Visa were worth $1,205,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in V. Mercer Capital Advisers Inc. raised its stake in shares of Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after buying an additional 25 shares during the last quarter. Delta Asset Management LLC TN raised its stake in shares of Visa by 2.5% in the first quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock worth $137,000 after buying an additional 38 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Visa during the first quarter worth $153,000. Tarbox Group Inc. raised its stake in shares of Visa by 259.5% in the first quarter. Tarbox Group Inc. now owns 2,139 shares of the credit-card processor’s stock worth $190,000 after buying an additional 1,544 shares during the last quarter. Finally, Adirondack Trust Co. raised its stake in shares of Visa by 1.6% in the first quarter. Adirondack Trust Co. now owns 2,195 shares of the credit-card processor’s stock worth $195,000 after buying an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 81.74% of the company’s stock.
Visa Inc. (V) traded down 0.08% during trading on Tuesday, reaching $103.70. 1,111,034 shares of the company’s stock traded hands. The firm has a market cap of $237.10 billion, a price-to-earnings ratio of 38.56 and a beta of 0.94. The company has a 50 day moving average of $99.99 and a 200 day moving average of $93.46. Visa Inc. has a one year low of $75.17 and a one year high of $104.20.
Visa (NYSE:V) last released its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the prior year, the business posted $0.69 EPS. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. Equities research analysts predict that Visa Inc. will post $3.43 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.64%. Visa’s payout ratio is currently 24.54%.
V has been the topic of several analyst reports. Vetr downgraded shares of Visa from a “hold” rating to a “sell” rating and set a $92.84 target price on the stock. in a research note on Monday, June 5th. Zacks Investment Research downgraded shares of Visa from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. BidaskClub downgraded shares of Visa from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. UBS AG reaffirmed an “overweight” rating on shares of Visa in a research note on Thursday, August 24th. Finally, Credit Suisse Group set a $112.00 target price on shares of Visa and gave the stock a “buy” rating in a research note on Saturday, July 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Visa has an average rating of “Buy” and an average target price of $104.76.
In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the completion of the sale, the executive vice president now directly owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary B. Cranston sold 10,400 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total value of $1,074,528.00. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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