DNB Asset Management AS lessened its stake in Visa Inc (NYSE:V) by 10.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 786,659 shares of the credit-card processor’s stock after selling 94,058 shares during the quarter. Visa comprises approximately 1.6% of DNB Asset Management AS’s investment portfolio, making the stock its 12th biggest holding. DNB Asset Management AS’s holdings in Visa were worth $136,525,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of V. Essex Investment Management Co. LLC acquired a new stake in Visa in the 4th quarter valued at about $33,000. Financial Gravity Companies Inc. acquired a new stake in Visa in the 4th quarter valued at about $57,000. Weaver Consulting Group acquired a new stake in Visa in the 1st quarter valued at about $67,000. Financial Advantage Inc. acquired a new stake in Visa in the 4th quarter valued at about $68,000. Finally, Focused Wealth Management Inc increased its position in Visa by 48.0% in the 4th quarter. Focused Wealth Management Inc now owns 524 shares of the credit-card processor’s stock valued at $69,000 after acquiring an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 81.63% of the company’s stock.
Visa stock opened at $176.27 on Friday. The company’s 50 day simple moving average is $178.08 and its 200 day simple moving average is $162.42. Visa Inc has a fifty-two week low of $121.60 and a fifty-two week high of $184.07. The firm has a market capitalization of $349.84 billion, a price-to-earnings ratio of 38.24, a PEG ratio of 1.97 and a beta of 0.96. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.69.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 15th. Visa’s payout ratio is 21.69%.
In other Visa news, Director Denise M. Morrison acquired 1,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were bought at an average cost of $171.13 per share, for a total transaction of $171,130.00. Following the completion of the acquisition, the director now directly owns 3,223 shares of the company’s stock, valued at $551,551.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lloyd Carney sold 3,500 shares of Visa stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $182.73, for a total transaction of $639,555.00. Following the completion of the sale, the director now owns 3,452 shares in the company, valued at $630,783.96. The disclosure for this sale can be found here. 0.17% of the stock is owned by company insiders.
Several research analysts have recently issued reports on V shares. JPMorgan Chase & Co. raised their target price on shares of Visa from $166.00 to $182.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Robert W. Baird set a $196.00 target price on shares of Visa and gave the company a “buy” rating in a research note on Friday, July 19th. Wedbush reaffirmed an “outperform” rating on shares of Visa in a research note on Wednesday, July 3rd. Citigroup set a $206.00 target price on shares of Visa and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Wells Fargo & Co raised their target price on shares of Visa from $181.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $195.46.
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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