Waddell & Reed Financial Inc. trimmed its holdings in shares of Visa Inc (NYSE:V) by 9.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,417,434 shares of the credit-card processor’s stock after selling 434,798 shares during the period. Visa comprises approximately 1.4% of Waddell & Reed Financial Inc.’s investment portfolio, making the stock its 10th largest holding. Waddell & Reed Financial Inc. owned 0.22% of Visa worth $585,089,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fort L.P. bought a new stake in Visa in the 2nd quarter valued at about $120,000. Cascade Investment Advisors Inc. bought a new stake in shares of Visa during the second quarter valued at about $132,000. Bridgeworth LLC bought a new stake in shares of Visa during the second quarter valued at about $143,000. Ruggie Capital Group bought a new stake in shares of Visa during the second quarter valued at about $164,000. Finally, Signature Estate & Investment Advisors LLC increased its position in shares of Visa by 36.8% during the second quarter. Signature Estate & Investment Advisors LLC now owns 1,357 shares of the credit-card processor’s stock valued at $180,000 after buying an additional 365 shares during the period. Institutional investors own 80.38% of the company’s stock.
Several brokerages have recently weighed in on V. Loop Capital upped their price target on Visa to $157.00 and gave the company a “buy” rating in a research report on Thursday, July 26th. They noted that the move was a valuation call. Cantor Fitzgerald upped their price target on Visa to $160.00 and gave the company an “overweight” rating in a research report on Thursday, July 26th. BMO Capital Markets upped their price target on Visa from $187.00 to $196.00 and gave the company an “outperform” rating in a research report on Thursday, October 25th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $166.00 price target on shares of Visa in a research report on Thursday, October 25th. Finally, Oppenheimer upped their price target on Visa from $143.00 to $154.00 and gave the company an “outperform” rating in a research report on Tuesday, July 17th. Two research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $155.47.
Visa (NYSE:V) last issued its earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.01. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.44 billion. Visa had a return on equity of 38.00% and a net margin of 49.98%. Sell-side analysts anticipate that Visa Inc will post 5.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Friday, November 16th will be paid a $0.25 dividend. The ex-dividend date is Thursday, November 15th. This represents a $1.00 annualized dividend and a yield of 0.69%. This is a positive change from Visa’s previous quarterly dividend of $0.21. Visa’s dividend payout ratio is currently 18.22%.
In other Visa news, EVP William M. Sheedy sold 99,636 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $139.28, for a total value of $13,877,302.08. Following the completion of the sale, the executive vice president now owns 296,925 shares of the company’s stock, valued at $41,355,714. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by corporate insiders.
ILLEGAL ACTIVITY WARNING: This article was posted by Week Herald and is owned by of Week Herald. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright law. The correct version of this article can be viewed at https://weekherald.com/2018/11/10/waddell-reed-financial-inc-lowers-stake-in-visa-inc-v.html.
Visa Company Profile
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.
Read More: Why does a company issue an IPO?
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc (NYSE:V).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.