Dynamic Technology Lab Private Ltd reduced its stake in shares of Visa Inc. (NYSE:V) by 41.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,200 shares of the credit-card processor’s stock after selling 4,414 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Visa were worth $551,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Round Hill Asset Management purchased a new stake in shares of Visa during the fourth quarter valued at about $643,000. Boothbay Fund Management LLC purchased a new stake in shares of Visa during the fourth quarter valued at about $620,000. Shepherd Financial Partners LLC purchased a new stake in shares of Visa during the fourth quarter valued at about $2,708,000. Stockbridge Partners LLC increased its position in Visa by 189.0% in the fourth quarter. Stockbridge Partners LLC now owns 1,832,563 shares of the credit-card processor’s stock valued at $142,977,000 after buying an additional 1,198,551 shares in the last quarter. Finally, Capital Guardian Trust Co. increased its position in Visa by 8.5% in the fourth quarter. Capital Guardian Trust Co. now owns 2,911,080 shares of the credit-card processor’s stock valued at $227,122,000 after buying an additional 229,009 shares in the last quarter. Institutional investors own 82.29% of the company’s stock.
Shares of Visa Inc. (NYSE V) opened at 102.51 on Friday. Visa Inc. has a 1-year low of $75.17 and a 1-year high of $103.93. The stock has a market cap of $234.38 billion, a PE ratio of 38.12 and a beta of 0.94. The stock’s 50 day moving average is $98.78 and its 200-day moving average is $92.76. Visa also was the target of unusually large options trading activity on Wednesday. Stock traders bought 12,583 put options on the stock. This represents an increase of approximately 163% compared to the typical volume of 4,785 put options.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Wednesday, August 16th. Visa’s payout ratio is 24.54%.
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A number of research firms have weighed in on V. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $100.12 target price on the stock in a report on Tuesday, June 27th. Instinet boosted their price target on Visa from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Wells Fargo & Company reissued a “market perform” rating and issued a $100.00 price target (up from $87.50) on shares of Visa in a research report on Saturday, July 22nd. Citigroup Inc. reaffirmed a “buy” rating and issued a $115.00 price objective (up from $100.00) on shares of Visa in a research report on Monday, July 24th. Finally, Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Four research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $104.56.
In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of the company’s stock in a transaction dated 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 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 corporate insiders.
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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