Confluence Wealth Management LLC Cuts Stake in Visa Inc. (NYSE:V)

Confluence Wealth Management LLC lowered its position in shares of Visa Inc. (NYSE:V) by 7.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,563 shares of the credit-card processor’s stock after selling 584 shares during the period. Confluence Wealth Management LLC’s holdings in Visa were worth $672,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Mercer Capital Advisers Inc. boosted its position in Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after buying an additional 25 shares during the last quarter. Delta Asset Management LLC TN boosted its position in Visa by 2.5% in the first quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock worth $137,000 after buying an additional 38 shares during the last quarter. Pacific Center for Financial Services acquired a new position in Visa during the fourth quarter worth about $138,000. State of Alaska Department of Revenue acquired a new position in Visa during the first quarter worth about $153,000. Finally, SRS Capital Advisors Inc. acquired a new position in Visa during the fourth quarter worth about $160,000. 82.46% of the stock is owned by institutional investors and hedge funds.

Shares of Visa Inc. (V) opened at 100.09 on Friday. The company has a market cap of $228.85 billion, a P/E ratio of 37.22 and a beta of 0.94. The company has a 50-day moving average price of $97.74 and a 200-day moving average price of $92.09. Visa Inc. has a 52-week low of $75.17 and a 52-week high of $101.72.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same period last year, the company earned $0.69 EPS. Visa’s quarterly revenue was up 25.8% compared to the same quarter last year. On average, equities analysts predict that Visa Inc. will post $3.43 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Wednesday, August 16th. Visa’s dividend payout ratio is currently 24.54%.

Visa declared that its board has approved a stock repurchase program on Thursday, April 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

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A number of equities analysts have issued reports on V shares. Citigroup Inc. restated a “buy” rating and set a $100.00 price target on shares of Visa in a report on Thursday, May 25th. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $95.32 price target on the stock in a report on Thursday, April 27th. Deutsche Bank AG increased their price target on Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 10th. Nomura increased their price target on Visa from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Finally, Credit Suisse Group set a $112.00 price target on Visa and gave the stock a “buy” rating in a report on Saturday, July 22nd. Four equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $104.56.

In related news, EVP Tullier Kelly Mahon sold 29,772 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the completion of the sale, the executive vice president now directly owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is currently owned by company insiders.

About Visa

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.

Institutional Ownership by Quarter for Visa (NYSE:V)

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