Capital Advisors Inc. OK reduced its stake in Visa Inc (NYSE:V) by 13.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 130,006 shares of the credit-card processor’s stock after selling 19,906 shares during the period. Visa makes up approximately 1.1% of Capital Advisors Inc. OK’s holdings, making the stock its 29th largest holding. Capital Advisors Inc. OK’s holdings in Visa were worth $25,841,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. CBIZ Investment Advisory Services LLC acquired a new position in shares of Visa in the 1st quarter worth approximately $25,000. Cedar Mountain Advisors LLC boosted its holdings in shares of Visa by 102.6% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 158 shares of the credit-card processor’s stock worth $31,000 after acquiring an additional 80 shares in the last quarter. Price Wealth LLC boosted its holdings in shares of Visa by 90.0% in the 2nd quarter. Price Wealth LLC now owns 190 shares of the credit-card processor’s stock worth $37,000 after acquiring an additional 90 shares in the last quarter. CVA Family Office LLC acquired a new position in shares of Visa in the 1st quarter worth approximately $32,000. Finally, Centerpoint Advisors LLC acquired a new position in Visa during the 2nd quarter worth $43,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Rajat Taneja sold 45,036 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $214.00, for a total transaction of $9,637,704.00. Following the completion of the transaction, the insider now directly owns 230,851 shares in the company, valued at approximately $49,402,114. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $212.00, for a total transaction of $1,484,000.00. Following the transaction, the chief executive officer now owns 127,090 shares of the company’s stock, valued at $26,943,080. The disclosure for this sale can be found here. In the last quarter, insiders have sold 118,122 shares of company stock valued at $24,683,231. Corporate insiders own 0.19% of the company’s stock.
Visa (NYSE:V) last released its earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.05. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.85 billion. Visa had a return on equity of 40.65% and a net margin of 51.37%. The company’s revenue was down 18.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.37 EPS. As a group, equities research analysts forecast that Visa Inc will post 5.01 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Thursday, August 13th. Visa’s dividend payout ratio (DPR) is presently 22.06%.
Several research analysts have issued reports on the company. Bank of America upped their price objective on Visa from $227.00 to $234.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Citigroup upped their price objective on Visa from $205.00 to $223.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Mizuho assumed coverage on Visa in a report on Wednesday, August 26th. They set a “buy” rating and a $250.00 price objective on the stock. Piper Sandler upped their price objective on Visa from $200.00 to $206.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. upped their price objective on Visa from $186.00 to $229.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Six investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $213.34.
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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