Visa Inc. (NYSE:V) Shares Purchased by Panagora Asset Management Inc.

Panagora Asset Management Inc. raised its position in shares of Visa Inc. (NYSE:V) by 2.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 474,641 shares of the credit-card processor’s stock after buying an additional 10,609 shares during the quarter. Visa comprises 0.6% of Panagora Asset Management Inc.’s portfolio, making the stock its 27th largest position. Panagora Asset Management Inc.’s holdings in Visa were worth $110,981,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its position in shares of Visa by 3.7% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 367,892 shares of the credit-card processor’s stock worth $86,021,000 after purchasing an additional 13,120 shares during the period. Greenleaf Trust raised its position in shares of Visa by 2.1% during the 2nd quarter. Greenleaf Trust now owns 210,478 shares of the credit-card processor’s stock worth $49,214,000 after purchasing an additional 4,292 shares during the period. Heritage Wealth Advisors raised its position in shares of Visa by 66.1% during the 2nd quarter. Heritage Wealth Advisors now owns 50,010 shares of the credit-card processor’s stock worth $10,939,000 after purchasing an additional 19,910 shares during the period. WT Wealth Management increased its position in Visa by 8.7% in the 2nd quarter. WT Wealth Management now owns 10,950 shares of the credit-card processor’s stock valued at $2,560,000 after acquiring an additional 879 shares during the period. Finally, Janus Henderson Group PLC increased its position in Visa by 8.8% in the 1st quarter. Janus Henderson Group PLC now owns 8,673,916 shares of the credit-card processor’s stock valued at $1,837,698,000 after acquiring an additional 698,028 shares during the period. Hedge funds and other institutional investors own 81.04% of the company’s stock.

Several analysts recently commented on the company. Morgan Stanley raised their target price on Visa from $279.00 to $282.00 and gave the company an “overweight” rating in a research report on Wednesday, July 28th. Compass Point raised their target price on Visa from $265.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. Oppenheimer raised their target price on Visa from $260.00 to $281.00 and gave the company an “outperform” rating in a research report on Friday, July 9th. Susquehanna raised their target price on Visa from $265.00 to $290.00 and gave the company a “positive” rating in a research report on Wednesday, July 28th. Finally, Wedbush increased their price target on Visa from $250.00 to $270.00 and gave the company an “outperform” rating in a research note on Wednesday, July 28th. One analyst has rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $271.52.

In other Visa news, EVP Tullier Kelly Mahon sold 2,091 shares of the firm’s stock in a transaction dated Wednesday, July 28th. The stock was sold at an average price of $248.71, for a total transaction of $520,052.61. Following the transaction, the executive vice president now directly owns 32,055 shares in the company, valued at $7,972,399.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, June 30th. The shares were sold at an average price of $235.11, for a total value of $2,115,990.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,813 shares of company stock valued at $20,342,613. 0.19% of the stock is owned by corporate insiders.

Shares of Visa stock traded down $2.58 during midday trading on Friday, hitting $221.75. The company’s stock had a trading volume of 13,833,000 shares, compared to its average volume of 8,236,887. The firm has a market capitalization of $431.96 billion, a P/E ratio of 44.80, a PEG ratio of 2.00 and a beta of 0.98. The stock has a 50-day simple moving average of $235.54 and a 200-day simple moving average of $229.48. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.61. Visa Inc. has a 1-year low of $179.23 and a 1-year high of $252.67.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 27th. The credit-card processor reported $1.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.16. Visa had a return on equity of 35.45% and a net margin of 47.97%. The business had revenue of $6.13 billion during the quarter, compared to analysts’ expectations of $5.86 billion. During the same quarter last year, the firm posted $1.07 earnings per share. Visa’s revenue was up 26.7% compared to the same quarter last year. As a group, sell-side analysts predict that Visa Inc. will post 5.82 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Friday, August 13th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $1.28 annualized dividend and a dividend yield of 0.58%. Visa’s dividend payout ratio is 25.40%.

About Visa

Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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