Visa Inc (NYSE:V) Stake Lifted by Nuveen Asset Management LLC

Share on StockTwits

Nuveen Asset Management LLC grew its holdings in Visa Inc (NYSE:V) by 5.6% during the second quarter, HoldingsChannel reports. The fund owned 16,193,092 shares of the credit-card processor’s stock after purchasing an additional 862,914 shares during the period. Visa accounts for about 1.3% of Nuveen Asset Management LLC’s investment portfolio, making the stock its 6th biggest holding. Nuveen Asset Management LLC’s holdings in Visa were worth $3,128,020,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC grew its stake in Visa by 7.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 10,551 shares of the credit-card processor’s stock worth $2,038,000 after buying an additional 715 shares during the last quarter. Phocas Financial Corp. purchased a new position in Visa during the 2nd quarter worth approximately $226,000. Asset Dedication LLC grew its stake in Visa by 5.8% during the 2nd quarter. Asset Dedication LLC now owns 15,904 shares of the credit-card processor’s stock worth $3,075,000 after buying an additional 874 shares during the last quarter. Arvest Bank Trust Division purchased a new position in Visa during the 2nd quarter worth approximately $239,000. Finally, Financial Insights Inc. grew its stake in Visa by 37.7% during the 2nd quarter. Financial Insights Inc. now owns 2,053 shares of the credit-card processor’s stock worth $269,000 after buying an additional 562 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

V stock traded down $0.03 during trading on Tuesday, reaching $204.95. 281,128 shares of the stock traded hands, compared to its average volume of 10,546,271. The business’s 50 day moving average price is $201.49 and its 200-day moving average price is $186.63. Visa Inc has a 52-week low of $133.93 and a 52-week high of $217.35. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a market capitalization of $398.15 billion, a PE ratio of 39.21, a P/E/G ratio of 3.05 and a beta of 0.90.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.05. The company had revenue of $4.84 billion for 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 firm’s quarterly revenue was down 18.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.37 earnings per share. On average, equities research analysts predict that Visa Inc will post 5.01 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Thursday, August 13th. Visa’s dividend payout ratio is presently 22.06%.

In other Visa news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.00, for a total transaction of $1,365,000.00. Following the transaction, the chief executive officer now owns 130,090 shares in the company, valued at $25,367,550. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Rajat Taneja sold 45,036 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $214.00, for a total value of $9,637,704.00. Following the transaction, the insider now owns 230,851 shares in the company, valued at approximately $49,402,114. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,122 shares of company stock worth $24,683,231. 0.19% of the stock is currently owned by insiders.

A number of analysts have weighed in on V shares. Raymond James increased their price objective on Visa from $204.00 to $217.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Cowen increased their price objective on Visa from $189.00 to $196.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Morgan Stanley increased their price objective on Visa from $196.00 to $203.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. JPMorgan Chase & Co. increased their price objective on Visa from $186.00 to $229.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. Finally, Wedbush increased their price objective on Visa from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Six analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $213.34.

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.

Featured Article: What is a dividend reinvestment plan?

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).

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.