Quadrant Capital Management LLC Has $3.40 Million Stake in Visa Inc. (V)
Quadrant Capital Management LLC cut its stake in Visa Inc. (NYSE:V) by 8.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,198 shares of the credit-card processor’s stock after selling 3,315 shares during the quarter. Visa comprises about 2.7% of Quadrant Capital Management LLC’s holdings, making the stock its 9th largest position. Quadrant Capital Management LLC’s holdings in Visa were worth $3,395,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mercer Capital Advisers Inc. grew its position in Visa by 2.2% during 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 in the last quarter. Mascoma Wealth Management LLC purchased a new position in Visa during the second quarter worth about $122,000. SpiderRock Advisors LLC grew its position in Visa by 107.1% during the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock worth $124,000 after buying an additional 19,709 shares in the last quarter. Advantage Investment Management LLC grew its position in Visa by 27.4% during the first quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock worth $130,000 after buying an additional 314 shares in the last quarter. Finally, Delta Asset Management LLC TN grew its position in Visa by 2.5% during 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 in the last quarter. Institutional investors own 81.68% of the company’s stock.
Visa Inc. (NYSE:V) opened at 105.56 on Monday. Visa Inc. has a 12-month low of $75.17 and a 12-month high of $106.84. The firm’s 50 day moving average price is $103.15 and its 200-day moving average price is $95.55. The stock has a market cap of $241.36 billion, a P/E ratio of 39.26 and a beta of 0.94.
Visa (NYSE:V) last posted its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 30.95%. The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the previous year, the firm posted $0.69 earnings per share. The company’s revenue was up 25.8% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Wednesday, August 16th. Visa’s dividend payout ratio is presently 24.54%.
In other news, Director Mary B. Cranston sold 10,400 shares of Visa stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $103.32, for a total transaction of $1,074,528.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following 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 disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
Several equities analysts recently commented on V shares. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a research report on Monday, May 29th. Vetr cut Visa from a “hold” rating to a “sell” rating and set a $92.84 target price for the company. in a research report on Monday, June 5th. Wedbush restated an “outperform” rating and set a $100.00 target price (up from $96.00) on shares of Visa in a research report on Tuesday, June 6th. BidaskClub cut Visa from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, Sandler O’Neill restated a “hold” rating on shares of Visa in a research report on Wednesday, June 21st. Four analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $106.42.
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Visa Company Profile
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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