Visa Inc (V) Shares Bought by Sei Investments Co.
Sei Investments Co. boosted its position in Visa Inc (NYSE:V) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,925,875 shares of the credit-card processor’s stock after acquiring an additional 46,630 shares during the period. Visa accounts for 1.3% of Sei Investments Co.’s portfolio, making the stock its 7th largest position. Sei Investments Co. owned 0.14% of Visa worth $387,531,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Earnest Partners LLC bought a new position in Visa during the fourth quarter worth about $100,000. Cascade Investment Advisors Inc. bought a new position in Visa during the second quarter worth about $132,000. Slow Capital Inc. bought a new position in Visa during the fourth quarter worth about $132,000. Signature Estate & Investment Advisors LLC boosted its holdings in Visa by 36.8% during the second quarter. Signature Estate & Investment Advisors LLC now owns 1,357 shares of the credit-card processor’s stock worth $180,000 after buying an additional 365 shares during the last quarter. Finally, Kiley Juergens Wealth Management LLC bought a new position in Visa during the second quarter worth about $191,000. Institutional investors and hedge funds own 80.13% of the company’s stock.
Shares of Visa stock opened at $149.27 on Thursday. Visa Inc has a 52-week low of $102.90 and a 52-week high of $150.42. The company has a market capitalization of $303.33 billion, a P/E ratio of 42.89, a PEG ratio of 1.85 and a beta of 1.09. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.60.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Friday, August 17th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Thursday, August 16th. Visa’s dividend payout ratio is presently 24.14%.
A number of brokerages have issued reports on V. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $168.00 target price on the stock in a report on Tuesday. Loop Capital raised their target price on Visa to $157.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. They noted that the move was a valuation call. Cantor Fitzgerald raised their target price on Visa to $160.00 and gave the stock an “overweight” rating in a report on Thursday, July 26th. Goldman Sachs Group cut Visa from a “conviction-buy” rating to a “buy” rating and set a $160.00 target price on the stock. in a report on Monday, September 17th. Finally, Buckingham Research raised their price target on Visa from $152.00 to $169.00 and gave the stock a “buy” rating in a research report on Tuesday, June 26th. Two 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 a consensus rating of “Buy” and an average price target of $151.22.
In related news, SVP James H. Hoffmeister sold 6,912 shares of Visa stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $140.01, for a total value of $967,749.12. Following the sale, the senior vice president now owns 6,912 shares of the company’s stock, valued at approximately $967,749.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vasant M. Prabhu sold 25,064 shares of Visa stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $140.56, for a total value of $3,522,995.84. Following the completion of the sale, the chief financial officer now directly owns 58,232 shares in the company, valued at approximately $8,185,089.92. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.
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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