Janney Capital Management LLC Sells 717 Shares of Visa Inc. $V

Janney Capital Management LLC cut its stake in Visa Inc. (NYSE:V) by 1.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,450 shares of the credit-card processor’s stock after selling 717 shares during the quarter. Visa comprises about 0.9% of Janney Capital Management LLC’s holdings, making the stock its 28th biggest holding. Janney Capital Management LLC’s holdings in Visa were worth $14,717,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in V. Nuveen LLC bought a new position in Visa in the 1st quarter worth $3,518,533,000. Vanguard Group Inc. increased its stake in shares of Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after acquiring an additional 1,677,088 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Visa by 17.7% in the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after acquiring an additional 1,651,954 shares in the last quarter. MUFG Securities EMEA plc bought a new position in shares of Visa in the 1st quarter worth about $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after acquiring an additional 955,392 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Up 2.0%

Shares of Visa stock opened at $348.21 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $638.20 billion, a PE ratio of 34.01, a price-to-earnings-growth ratio of 2.27 and a beta of 0.90. Visa Inc. has a 52-week low of $273.24 and a 52-week high of $375.51. The company has a 50-day simple moving average of $344.09 and a two-hundred day simple moving average of $346.52.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.42 earnings per share. On average, analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa’s payout ratio is 23.05%.

Analysts Set New Price Targets

Several brokerages recently issued reports on V. Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Raymond James Financial reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Oppenheimer increased their price target on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Macquarie increased their price target on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $385.96.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by insiders.

Visa Company 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.