Visa Inc (NYSE:V) Position Lowered by Wedgewood Partners Inc.

Wedgewood Partners Inc. lessened its stake in Visa Inc (NYSE:V) by 12.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 607,588 shares of the credit-card processor’s stock after selling 86,390 shares during the quarter. Visa makes up about 8.9% of Wedgewood Partners Inc.’s investment portfolio, making the stock its 2nd largest position. Wedgewood Partners Inc.’s holdings in Visa were worth $105,446,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in V. Krane Funds Advisors LLC bought a new stake in Visa in the second quarter worth $26,000. Lowe Wealth Advisors LLC increased its position in Visa by 114.7% in the second quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 86 shares during the last quarter. Personal Wealth Partners bought a new stake in Visa in the second quarter worth $30,000. Mcmillion Capital Management Inc. bought a new stake in Visa in the second quarter worth $38,000. Finally, Hexavest Inc. bought a new stake in Visa in the second quarter worth $40,000. 80.99% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Lloyd Carney sold 3,500 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $182.73, for a total transaction of $639,555.00. Following the transaction, the director now owns 3,452 shares in the company, valued at $630,783.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Vasant M. Prabhu sold 25,051 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.14, for a total transaction of $4,537,738.14. Following the transaction, the insider now owns 62,223 shares in the company, valued at approximately $11,271,074.22. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

NYSE:V traded down $1.06 during mid-day trading on Friday, reaching $174.90. The company’s stock had a trading volume of 6,337,090 shares, compared to its average volume of 6,061,826. Visa Inc has a 1 year low of $121.60 and a 1 year high of $187.05. The stock has a fifty day moving average of $178.33 and a 200-day moving average of $168.11. The firm has a market capitalization of $350.06 billion, a PE ratio of 37.94, a price-to-earnings-growth ratio of 1.98 and a beta of 0.97. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.57.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.04. Visa had a net margin of 53.43% and a return on equity of 41.04%. The company had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the firm earned $1.20 earnings per share. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, analysts expect that Visa Inc will post 5.4 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Thursday, August 15th. Visa’s payout ratio is 21.69%.

A number of research firms have weighed in on V. ValuEngine cut shares of Visa from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Credit Suisse Group boosted their price objective on shares of Visa from $200.00 to $203.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Barclays boosted their price objective on shares of Visa from $181.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Jefferies Financial Group boosted their price objective on shares of Visa from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Citigroup boosted their price objective on shares of Visa from $185.00 to $206.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $196.57.

Visa Company Profile

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.

Further Reading: S&P 500 Index

Institutional Ownership by Quarter for Visa (NYSE:V)

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