Tdam USA Inc. cut its stake in shares of Visa Inc (NYSE:V) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 182,607 shares of the credit-card processor’s stock after selling 11,348 shares during the period. Visa accounts for about 1.5% of Tdam USA Inc.’s portfolio, making the stock its 11th biggest position. Tdam USA Inc.’s holdings in Visa were worth $24,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of V. Earnest Partners LLC purchased a new stake in shares of Visa in the fourth quarter worth approximately $100,000. Cascade Investment Advisors Inc. purchased a new stake in shares of Visa in the second quarter worth approximately $132,000. Slow Capital Inc. purchased a new stake in shares of Visa in the fourth quarter worth approximately $132,000. Signature Estate & Investment Advisors LLC raised its holdings in shares of Visa by 36.8% in the second quarter. Signature Estate & Investment Advisors LLC now owns 1,357 shares of the credit-card processor’s stock worth $180,000 after buying an additional 365 shares during the period. Finally, Kiley Juergens Wealth Management LLC purchased a new stake in shares of Visa in the second quarter worth approximately $191,000. Institutional investors and hedge funds own 80.27% of the company’s stock.
V opened at $147.84 on Friday. The firm has a market cap of $298.16 billion, a price-to-earnings ratio of 42.48, a PEG ratio of 1.81 and a beta of 1.09. Visa Inc has a 52 week low of $102.75 and a 52 week high of $148.37. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.60.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Friday, August 17th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, August 16th. This represents a $0.84 annualized dividend and a yield of 0.57%. Visa’s dividend payout ratio (DPR) is presently 24.14%.
Several equities research analysts have recently weighed in on V shares. Morgan Stanley upgraded Visa to an “overweight” rating in a report on Monday, July 23rd. Wells Fargo & Co increased their price target on Visa from $143.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, July 12th. Royal Bank of Canada increased their price target on Visa to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, September 5th. Cantor Fitzgerald increased their price target on Visa to $160.00 and gave the stock an “overweight” rating in a report on Thursday, July 26th. Finally, Oppenheimer increased their price target on Visa from $143.00 to $154.00 and gave the stock an “outperform” rating in a report on Tuesday, July 17th. Three equities research analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $149.35.
In other Visa news, SVP James H. Hoffmeister sold 6,912 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $140.01, for a total transaction of $967,749.12. Following the sale, the senior vice president now owns 6,912 shares of the company’s stock, valued at approximately $967,749.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vasant M. Prabhu sold 25,064 shares of the stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $140.56, for a total value of $3,522,995.84. Following the sale, the chief financial officer now directly owns 58,232 shares in the company, valued at approximately $8,185,089.92. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.
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.
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