Tower Bridge Advisors lowered its stake in Visa Inc. (NYSE:V – Free Report) by 10.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,213 shares of the credit-card processor’s stock after selling 7,910 shares during the period. Visa comprises 1.6% of Tower Bridge Advisors’ investment portfolio, making the stock its 9th biggest position. Tower Bridge Advisors’ holdings in Visa were worth $18,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Grove Bank & Trust grew its stake in Visa by 3.6% during the 2nd quarter. Grove Bank & Trust now owns 17,332 shares of the credit-card processor’s stock worth $4,549,000 after buying an additional 609 shares during the last quarter. Retirement Systems of Alabama grew its stake in shares of Visa by 17.0% in the 2nd quarter. Retirement Systems of Alabama now owns 716,338 shares of the credit-card processor’s stock valued at $188,017,000 after purchasing an additional 104,160 shares during the last quarter. Traynor Capital Management Inc. grew its stake in shares of Visa by 4.7% in the 2nd quarter. Traynor Capital Management Inc. now owns 43,577 shares of the credit-card processor’s stock valued at $11,438,000 after purchasing an additional 1,943 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. grew its stake in shares of Visa by 4.0% in the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 519,991 shares of the credit-card processor’s stock valued at $136,482,000 after purchasing an additional 20,197 shares during the last quarter. Finally, Lebenthal Global Advisors LLC lifted its holdings in shares of Visa by 1.0% in the 2nd quarter. Lebenthal Global Advisors LLC now owns 5,168 shares of the credit-card processor’s stock valued at $1,357,000 after buying an additional 52 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.
Visa Stock Performance
Shares of NYSE V traded down $0.50 during mid-day trading on Friday, hitting $267.44. The company had a trading volume of 3,697,448 shares, compared to its average volume of 7,178,655. The stock has a market cap of $489.13 billion, a price-to-earnings ratio of 29.88, a PEG ratio of 1.89 and a beta of 0.95. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $290.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The firm’s 50 day simple moving average is $265.93 and its two-hundred day simple moving average is $273.30.
Visa Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.
Analyst Upgrades and Downgrades
Several analysts have recently commented on V shares. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Mizuho boosted their price target on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. William Blair upgraded Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Citigroup reduced their target price on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Macquarie reiterated an “outperform” rating and set a $300.00 target price on shares of Visa in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $308.50.
Read Our Latest Stock Analysis on V
Visa Profile
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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