Visa Inc. (V) Stake Maintained by Covenant Asset Management LLC
Covenant Asset Management LLC maintained its stake in Visa Inc. (NYSE:V) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,737 shares of the credit-card processor’s stock at the end of the 2nd quarter. Covenant Asset Management LLC’s holdings in Visa were worth $1,382,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the business. Capital Investment Advisors LLC lifted its position in shares of Visa by 0.5% in the second quarter. Capital Investment Advisors LLC now owns 20,718 shares of the credit-card processor’s stock worth $1,943,000 after buying an additional 107 shares during the last quarter. Waverton Investment Management Ltd lifted its position in shares of Visa by 29.2% in the second quarter. Waverton Investment Management Ltd now owns 487,506 shares of the credit-card processor’s stock worth $45,718,000 after buying an additional 110,207 shares during the last quarter. Iberiabank Corp lifted its position in shares of Visa by 8.1% in the second quarter. Iberiabank Corp now owns 20,101 shares of the credit-card processor’s stock worth $1,885,000 after buying an additional 1,498 shares during the last quarter. RB Capital Management LLC lifted its position in shares of Visa by 12.5% in the second quarter. RB Capital Management LLC now owns 11,643 shares of the credit-card processor’s stock worth $1,092,000 after buying an additional 1,298 shares during the last quarter. Finally, Atria Investments LLC lifted its position in shares of Visa by 3.3% in the second quarter. Atria Investments LLC now owns 28,538 shares of the credit-card processor’s stock worth $2,676,000 after buying an additional 902 shares during the last quarter. 81.68% of the stock is owned by institutional investors.
Visa Inc. (NYSE V) traded up 0.24% during midday trading on Friday, reaching $105.56. The company had a trading volume of 4,959,424 shares. Visa Inc. has a one year low of $75.17 and a one year high of $106.84. The company has a market capitalization of $241.36 billion, a PE ratio of 39.26 and a beta of 0.94. The stock’s 50 day moving average is $103.15 and its 200 day moving average is $95.55.
Visa (NYSE:V) last announced its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Visa had a net margin of 36.53% and a return on equity of 30.95%. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share. Equities research analysts forecast that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Friday, August 18th were paid a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a yield of 0.63%. Visa’s dividend payout ratio (DPR) is 24.54%.
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In related news, 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 value of $3,004,292.52. Following the transaction, the executive vice president now directly owns 17,360 shares of the company’s stock, valued at $1,751,797.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
V has been the subject of a number of analyst reports. Vetr cut Visa from a “hold” rating to a “sell” rating and set a $92.84 price target for the company. in a research report on Monday, June 5th. Zacks Investment Research raised Visa from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a research report on Tuesday. BidaskClub cut Visa from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. UBS AG reaffirmed an “overweight” rating on shares of Visa in a research report on Thursday, August 24th. Finally, Credit Suisse Group set a $112.00 price objective on Visa and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Four equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Visa currently has a consensus rating of “Buy” and a consensus target price of $106.42.
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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