Private Advisory Group LLC Sells 92 Shares of Visa Inc. (NYSE:V)

Private Advisory Group LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 1.9% during the second quarter, HoldingsChannel reports. The fund owned 4,644 shares of the credit-card processor’s stock after selling 92 shares during the quarter. Private Advisory Group LLC’s holdings in Visa were worth $1,219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Visa by 0.6% in the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after acquiring an additional 788,908 shares during the period. Capital International Investors raised its holdings in Visa by 2.7% during the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after purchasing an additional 626,618 shares during the last quarter. Capital World Investors boosted its stake in shares of Visa by 5.4% in the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after purchasing an additional 968,008 shares during the last quarter. Norges Bank acquired a new stake in shares of Visa during the fourth quarter worth $3,895,015,000. Finally, Jennison Associates LLC raised its stake in Visa by 0.7% during the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock worth $3,078,408,000 after buying an additional 85,123 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

V has been the topic of a number of research analyst reports. Macquarie reaffirmed an “outperform” rating and set a $300.00 price target on shares of Visa in a research report on Wednesday, July 24th. Mizuho upped their target price on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Bank of America reaffirmed a “neutral” rating and set a $297.00 target price (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Royal Bank of Canada dropped their price target on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Finally, Citigroup reduced their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $308.50.

Visa Stock Down 0.1 %

Shares of NYSE:V traded down $0.35 during mid-day trading on Friday, hitting $267.59. 283,985 shares of the company traded hands, compared to its average volume of 7,157,734. The stock has a 50-day moving average price of $265.99 and a two-hundred day moving average price of $273.36. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $290.96. The stock has a market cap of $489.41 billion, a P/E ratio of 29.95, a P/E/G ratio of 1.89 and a beta of 0.95. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the previous year, the firm earned $2.16 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities research analysts forecast that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Friday, August 9th. Visa’s payout ratio is 23.24%.

About Visa

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.