Visa Inc (NYSE:V) Stock Position Cut by Crossvault Capital Management LLC

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Crossvault Capital Management LLC cut its position in shares of Visa Inc (NYSE:V) by 3.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,030 shares of the credit-card processor’s stock after selling 2,375 shares during the period. Visa accounts for 5.1% of Crossvault Capital Management LLC’s holdings, making the stock its 4th biggest position. Crossvault Capital Management LLC’s holdings in Visa were worth $10,418,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund lifted its holdings in Visa by 11,319.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 86,570,056 shares of the credit-card processor’s stock valued at $656,000 after purchasing an additional 85,811,983 shares in the last quarter. Lunia Capital LP lifted its holdings in Visa by 13,370.7% during the fourth quarter. Lunia Capital LP now owns 23,454,446 shares of the credit-card processor’s stock valued at $23,454,000 after purchasing an additional 23,280,332 shares in the last quarter. Thoroughbred Financial Services LLC lifted its holdings in Visa by 17,806.8% during the second quarter. Thoroughbred Financial Services LLC now owns 3,346,951 shares of the credit-card processor’s stock valued at $334,695,000 after purchasing an additional 3,328,260 shares in the last quarter. FMR LLC lifted its holdings in Visa by 1.9% during the first quarter. FMR LLC now owns 92,255,849 shares of the credit-card processor’s stock valued at $14,409,440,000 after purchasing an additional 1,731,813 shares in the last quarter. Finally, Swedbank lifted its holdings in Visa by 26.3% during the fourth quarter. Swedbank now owns 4,890,752 shares of the credit-card processor’s stock valued at $640,395,000 after purchasing an additional 1,019,755 shares in the last quarter. 81.00% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP William M. Sheedy sold 75,676 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $165.24, for a total transaction of $12,504,702.24. Following the completion of the sale, the executive vice president now directly owns 300,114 shares in the company, valued at $49,590,837.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by company insiders.

V has been the topic of several recent analyst reports. Barclays increased their price objective on shares of from $65.00 to $100.00 and gave the company an “overweight” rating in a report on Friday. Cantor Fitzgerald reaffirmed a “buy” rating and set a $71.00 price objective on shares of ExlService in a report on Sunday, April 28th. Jefferies Financial Group downgraded shares of Alcoa from a “buy” rating to a “hold” rating and decreased their price objective for the company from $29.00 to $23.00 in a report on Thursday, July 18th. Morgan Stanley increased their price objective on shares of Visa from $175.00 to $191.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Finally, Wells Fargo & Co increased their price objective on shares of Apollo Global Management from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Visa currently has a consensus rating of “Buy” and an average price target of $186.04.

Shares of NYSE:V traded down $0.16 during midday trading on Tuesday, hitting $180.41. The company’s stock had a trading volume of 3,941,755 shares, compared to its average volume of 5,721,412. The business’s 50 day moving average is $173.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.62 and a current ratio of 1.62. The stock has a market cap of $360.43 billion, a P/E ratio of 39.13, a P/E/G ratio of 2.03 and a beta of 0.96. Visa Inc has a 12-month low of $121.60 and a 12-month high of $181.84.

Visa (NYSE:V) last posted its quarterly earnings results on Wednesday, April 24th. The credit-card processor reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.07. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.46 billion. Visa had a net margin of 51.34% and a return on equity of 40.56%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the firm posted $1.11 earnings per share. Sell-side analysts forecast that Visa Inc will post 5.37 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 16th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.55%. The ex-dividend date is Thursday, August 15th. Visa’s payout ratio is currently 21.69%.

About Visa

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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