Visa Inc (NYSE:V) Shares Sold by Accredited Investors Inc.
Accredited Investors Inc. lowered its position in Visa Inc (NYSE:V) by 3.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,482 shares of the credit-card processor’s stock after selling 60 shares during the quarter. Accredited Investors Inc.’s holdings in Visa were worth $286,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of the stock. BEAM Asset Management LLC lifted its stake in shares of Visa by 2.0% in the 2nd quarter. BEAM Asset Management LLC now owns 2,654 shares of the credit-card processor’s stock worth $525,000 after acquiring an additional 52 shares during the period. Perennial Investment Advisors LLC grew its holdings in Visa by 2.6% during the second quarter. Perennial Investment Advisors LLC now owns 2,023 shares of the credit-card processor’s stock worth $391,000 after acquiring an additional 52 shares during the period. Trellis Advisors LLC lifted its holdings in Visa by 2.2% in the 2nd quarter. Trellis Advisors LLC now owns 2,419 shares of the credit-card processor’s stock valued at $467,000 after acquiring an additional 52 shares during the last quarter. Ironwood Investment Counsel LLC boosted its position in shares of Visa by 1.0% during the 1st quarter. Ironwood Investment Counsel LLC now owns 5,509 shares of the credit-card processor’s stock valued at $887,000 after purchasing an additional 57 shares in the last quarter. Finally, Laurel Wealth Advisors LLC grew its stake in shares of Visa by 3.7% in the 1st quarter. Laurel Wealth Advisors LLC now owns 1,588 shares of the credit-card processor’s stock worth $256,000 after purchasing an additional 57 shares during the last quarter. 81.41% of the stock is owned by institutional investors and hedge funds.
In other Visa news, President Ryan Mcinerney sold 26,150 shares of Visa stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $191.87, for a total value of $5,017,400.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $191.49, for a total value of $1,340,430.00. Following the transaction, the chief executive officer now owns 133,090 shares of the company’s stock, valued at $25,485,404.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,429 shares of company stock worth $9,746,754. Corporate insiders own 0.19% of the company’s stock.
Visa (NYSE:V) last posted its earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.85 billion. Visa had a net margin of 51.37% and a return on equity of 40.65%. The company’s revenue was down 18.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.37 earnings per share. On average, analysts predict that Visa Inc will post 4.98 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, August 13th. This represents a $1.20 annualized dividend and a yield of 0.63%. Visa’s dividend payout ratio (DPR) is presently 22.06%.
Several research firms have issued reports on V. Wedbush lifted their price target on shares of Visa from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Citigroup increased their price target on Visa from $205.00 to $223.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Goldman Sachs Group started coverage on Visa in a report on Tuesday, July 14th. They set a “buy” rating and a $223.00 price objective on the stock. Daiwa Capital Markets reaffirmed a “neutral” rating and set a $204.00 price objective on shares of Visa in a research note on Tuesday, July 21st. Finally, Jefferies Financial Group downgraded shares of Visa from a “buy” rating to a “hold” rating and dropped their target price for the stock from $190.00 to $180.00 in a research report on Wednesday, April 15th. Seven analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Visa currently has an average rating of “Buy” and an average price target of $207.56.
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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