Violich Capital Management Inc. Has $47.71 Million Stake in Visa Inc. $V

Violich Capital Management Inc. lessened its holdings in Visa Inc. (NYSE:V) by 9.2% in the second quarter, Holdings Channel reports. The firm owned 134,380 shares of the credit-card processor’s stock after selling 13,655 shares during the period. Visa accounts for 6.7% of Violich Capital Management Inc.’s investment portfolio, making the stock its 4th largest holding. Violich Capital Management Inc.’s holdings in Visa were worth $47,712,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of Visa during the 1st quarter worth $3,518,533,000. Vanguard Group Inc. grew its stake in shares of Visa by 1.1% during 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 during the period. Wellington Management Group LLP grew its stake in shares of Visa by 17.7% during 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 during the period. MUFG Securities EMEA plc bought a new position in shares of Visa during the 1st quarter worth $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Visa by 7.2% during 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 during the period. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. The trade was a 95.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on V. Wells Fargo & Company set a $412.00 price target on Visa and gave the stock an “overweight” rating in a research note on Tuesday. Robert W. Baird set a $410.00 price target on Visa and gave the stock an “outperform” rating in a research note on Monday, October 6th. Morgan Stanley increased their price target on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Raymond James Financial reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Finally, Macquarie increased their price target on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $389.74.

Visa Stock Up 0.8%

Shares of NYSE V opened at $347.17 on Wednesday. Visa Inc. has a 52 week low of $280.78 and a 52 week high of $375.51. The business has a 50-day simple moving average of $344.68 and a two-hundred day simple moving average of $347.11. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market cap of $636.29 billion, a P/E ratio of 33.90, a P/E/G ratio of 2.04 and a beta of 0.90.

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

Visa Announces Dividend

The firm also recently declared 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 dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is presently 23.05%.

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.