Single Point Partners LLC Trims Stock Position in Visa Inc (NYSE:V)

Share on StockTwits

Single Point Partners LLC cut its position in shares of Visa Inc (NYSE:V) by 22.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,387 shares of the credit-card processor’s stock after selling 391 shares during the period. Single Point Partners LLC’s holdings in Visa were worth $268,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of V. Massachusetts Financial Services Co. MA raised its stake in shares of Visa by 4.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 27,495,717 shares of the credit-card processor’s stock valued at $4,430,109,000 after acquiring an additional 1,121,525 shares during the period. Capital International Investors raised its stake in shares of Visa by 6.1% in the 1st quarter. Capital International Investors now owns 21,881,462 shares of the credit-card processor’s stock valued at $3,525,557,000 after acquiring an additional 1,250,002 shares during the period. Fisher Asset Management LLC increased its stake in Visa by 0.6% during the 1st quarter. Fisher Asset Management LLC now owns 20,319,088 shares of the credit-card processor’s stock worth $3,273,812,000 after buying an additional 116,273 shares during the period. Edgewood Management LLC increased its stake in Visa by 1.9% during the 1st quarter. Edgewood Management LLC now owns 13,171,726 shares of the credit-card processor’s stock worth $2,122,228,000 after buying an additional 243,957 shares during the period. Finally, Legal & General Group Plc increased its stake in Visa by 3.0% during the 1st quarter. Legal & General Group Plc now owns 10,927,768 shares of the credit-card processor’s stock worth $1,762,092,000 after buying an additional 320,352 shares during the period. 81.41% of the stock is currently owned by institutional investors.

V has been the topic of several recent research reports. Citigroup upped their target price on shares of Visa from $205.00 to $223.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Morgan Stanley upped their target price on shares of Visa from $196.00 to $203.00 and gave the stock an “overweight” rating in a research note on Tuesday. Cowen upped their target price on shares of Visa from $189.00 to $196.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. BMO Capital Markets cut their target price on shares of Visa from $234.00 to $213.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Finally, Wedbush upped their target price on shares of Visa from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Seven equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $207.56.

Shares of Visa stock traded down $3.66 during trading hours on Friday, hitting $190.40. The company had a trading volume of 14,186,004 shares, compared to its average volume of 7,102,219. The company’s 50-day moving average is $194.04 and its two-hundred day moving average is $187.14. Visa Inc has a twelve month low of $133.93 and a twelve month high of $214.17. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.25. The company has a market cap of $377.15 billion, a P/E ratio of 36.07, a price-to-earnings-growth ratio of 3.09 and a beta of 0.92.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.05. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.85 billion. Visa had a net margin of 51.37% and a return on equity of 40.65%. The company’s revenue for the quarter was down 18.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.37 EPS. Sell-side analysts expect that Visa Inc will post 4.98 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Thursday, August 13th. Visa’s dividend payout ratio is currently 22.06%.

In other Visa news, President Ryan Mcinerney sold 26,150 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $191.87, for a total transaction of $5,017,400.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $194.50, for a total transaction of $1,361,500.00. Following the transaction, the chief executive officer now owns 136,090 shares of the company’s stock, valued at approximately $26,469,505. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,429 shares of company stock valued at $9,746,754. 0.19% of the stock is owned by company insiders.

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.

See Also: What is the Dow Jones Industrial Average (DJIA)?

Institutional Ownership by Quarter for Visa (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.