Two Sigma Advisers LP decreased its position in Visa Inc. (NYSE:V - Free Report) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,031,500 shares of the credit-card processor's stock after selling 74,700 shares during the period. Visa accounts for approximately 1.3% of Two Sigma Advisers LP's investment portfolio, making the stock its 6th largest position. Two Sigma Advisers LP owned 0.11% of Visa worth $558,561,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in V. Accel Wealth Management increased its holdings in Visa by 52.3% in the 2nd quarter. Accel Wealth Management now owns 1,372 shares of the credit-card processor's stock valued at $360,000 after purchasing an additional 471 shares during the last quarter. Gilman Hill Asset Management LLC grew its stake in shares of Visa by 6.1% in the second quarter. Gilman Hill Asset Management LLC now owns 1,780 shares of the credit-card processor's stock valued at $467,000 after buying an additional 102 shares in the last quarter. Sax Wealth Advisors LLC raised its holdings in shares of Visa by 53.7% in the 2nd quarter. Sax Wealth Advisors LLC now owns 1,211 shares of the credit-card processor's stock valued at $318,000 after buying an additional 423 shares during the period. Optimum Investment Advisors lifted its stake in Visa by 8.9% during the 2nd quarter. Optimum Investment Advisors now owns 4,202 shares of the credit-card processor's stock worth $1,103,000 after acquiring an additional 345 shares in the last quarter. Finally, Twelve Points Wealth Management LLC boosted its holdings in Visa by 0.8% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 5,269 shares of the credit-card processor's stock valued at $1,383,000 after acquiring an additional 43 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.
In related news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares of the company's stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.19% of the company's stock.
Several brokerages have recently issued reports on V. Citigroup increased their price objective on Visa from $319.00 to $326.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Oppenheimer reaffirmed an "outperform" rating and issued a $321.00 target price (up previously from $318.00) on shares of Visa in a report on Wednesday, October 30th. Jefferies Financial Group boosted their price target on shares of Visa from $320.00 to $330.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Morgan Stanley raised their price objective on shares of Visa from $322.00 to $326.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Finally, Barclays boosted their target price on shares of Visa from $319.00 to $347.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $321.74.
Get Our Latest Analysis on V
Shares of V opened at $309.08 on Friday. The stock's fifty day simple moving average is $295.00 and its 200 day simple moving average is $279.46. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $317.42. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $575.78 billion, a P/E ratio of 31.77, a price-to-earnings-growth ratio of 2.10 and a beta of 0.96.
Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts' consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to analysts' expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa's revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.33 earnings per share. On average, equities research analysts forecast that Visa Inc. will post 11.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. This is a boost from Visa's previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Tuesday, November 12th. Visa's payout ratio is presently 24.25%.
Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.
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