Visa Inc. (NYSE:V) is Troy Asset Management Ltd’s Largest Position

Troy Asset Management Ltd trimmed its stake in Visa Inc. (NYSE:V) by 1.0% in the second quarter, Holdings Channel.com reports. The firm owned 1,570,019 shares of the credit-card processor’s stock after selling 15,806 shares during the quarter. Visa comprises about 13.3% of Troy Asset Management Ltd’s portfolio, making the stock its largest position. Troy Asset Management Ltd’s holdings in Visa were worth $412,083,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Livelsberger Financial Advisory acquired a new stake in Visa during the 4th quarter worth approximately $25,000. Westend Capital Management LLC acquired a new position in Visa during the first quarter valued at approximately $25,000. POM Investment Strategies LLC grew its stake in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in shares of Visa in the fourth quarter worth $33,000. Finally, TruNorth Capital Management LLC raised its stake in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE:V opened at $274.77 on Tuesday. The company has a market cap of $502.54 billion, a PE ratio of 30.70, a P/E/G ratio of 1.94 and a beta of 0.96. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $293.07. The firm has a 50-day simple moving average of $271.45 and a 200 day simple moving average of $273.11. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.16 earnings per share. On average, sell-side analysts anticipate that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio (DPR) is 23.24%.

Wall Street Analysts Forecast Growth

V has been the subject of a number of research reports. TD Cowen decreased their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. raised their target price on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group lowered their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $310.22.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 in the company, valued at approximately $148,687.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

About Visa

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.