Visa Inc (NYSE:V) Stock Position Trimmed by Consolidated Capital Management LLC

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Consolidated Capital Management LLC lowered its holdings in Visa Inc (NYSE:V) by 9.4% during the 2nd quarter, Holdings Channel reports. The firm owned 72,137 shares of the credit-card processor’s stock after selling 7,452 shares during the period. Visa makes up about 8.3% of Consolidated Capital Management LLC’s investment portfolio, making the stock its 3rd largest holding. Consolidated Capital Management LLC’s holdings in Visa were worth $13,935,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Massachusetts Financial Services Co. MA boosted its position in Visa by 4.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 27,495,717 shares of the credit-card processor’s stock worth $4,430,109,000 after purchasing an additional 1,121,525 shares during the last quarter. Geode Capital Management LLC boosted its position in Visa by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 27,228,424 shares of the credit-card processor’s stock worth $5,106,530,000 after purchasing an additional 733,712 shares during the last quarter. Capital International Investors boosted its position in Visa by 6.1% in the first quarter. Capital International Investors now owns 21,881,462 shares of the credit-card processor’s stock worth $3,525,557,000 after purchasing an additional 1,250,002 shares during the last quarter. Fisher Asset Management LLC boosted its position in Visa by 0.6% in the first quarter. Fisher Asset Management LLC now owns 20,319,088 shares of the credit-card processor’s stock worth $3,273,812,000 after purchasing an additional 116,273 shares during the last quarter. Finally, Norges Bank purchased a new position in Visa in the fourth quarter worth $3,303,463,000. 81.59% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $181.78, for a total value of $1,272,460.00. Following the completion of the transaction, the chief executive officer now directly owns 139,090 shares in the company, valued at approximately $25,283,780.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Ryan Mcinerney sold 26,150 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $191.87, for a total value of $5,017,400.50. The disclosure for this sale can be found here. Insiders sold a total of 50,429 shares of company stock worth $9,654,214 over the last 90 days. Corporate insiders own 0.19% of the company’s stock.

NYSE V traded down $2.20 during trading on Thursday, reaching $192.87. The company’s stock had a trading volume of 163,885 shares, compared to its average volume of 8,281,282. The stock has a market capitalization of $377.43 billion, a PE ratio of 34.90, a P/E/G ratio of 3.08 and a beta of 0.92. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a fifty day moving average of $193.92 and a 200 day moving average of $186.45. Visa Inc has a one year low of $133.93 and a one year high of $214.17.

Visa (NYSE:V) last announced its earnings results on Thursday, April 30th. The credit-card processor reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.04. The business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.75 billion. Visa had a return on equity of 43.45% and a net margin of 52.26%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.31 EPS. Research analysts expect that Visa Inc will post 5 earnings per share for the current fiscal year.

Several research analysts have weighed in on V shares. Barclays cut their price objective on Visa from $230.00 to $209.00 and set an “overweight” rating on the stock in a research report on Thursday, March 26th. Wells Fargo & Co lowered their target price on Visa from $230.00 to $205.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Guggenheim lowered Visa from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 22nd. Raymond James boosted their target price on Visa from $188.00 to $204.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Finally, Citigroup boosted their target price on Visa from $205.00 to $223.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Five investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $206.93.

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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