Great Lakes Advisors LLC Reduces Holdings in Visa Inc. (NYSE:V)

Great Lakes Advisors LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 10.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,519 shares of the credit-card processor’s stock after selling 4,104 shares during the quarter. Great Lakes Advisors LLC’s holdings in Visa were worth $8,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Hilltop National Bank purchased a new stake in shares of Visa in the 1st quarter worth about $1,212,000. Absolute Capital Management LLC purchased a new position in shares of Visa during the first quarter valued at approximately $404,000. SageView Advisory Group LLC boosted its position in shares of Visa by 40.4% in the 4th quarter. SageView Advisory Group LLC now owns 25,137 shares of the credit-card processor’s stock worth $6,967,000 after purchasing an additional 7,236 shares in the last quarter. Davidson Capital Management Inc. grew its stake in shares of Visa by 0.5% in the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after buying an additional 44 shares during the last quarter. Finally, Empirical Finance LLC increased its position in Visa by 4.4% during the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after buying an additional 1,914 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Visa Stock Performance

Shares of V opened at $279.37 on Friday. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $290.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $509.10 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 1.98 and a beta of 0.96. The business has a 50-day simple moving average of $266.53 and a two-hundred day simple moving average of $273.13.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter last year, the business earned $2.16 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. On average, analysts expect that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.74%. Visa’s payout ratio is 23.24%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Evercore ISI reduced their price target on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. William Blair upgraded shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada cut their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Visa has an average rating of “Moderate Buy” and an average price target of $309.54.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.