Visa Inc (NYSE:V) Holdings Lessened by Renaissance Investment Group LLC
Renaissance Investment Group LLC trimmed its holdings in shares of Visa Inc (NYSE:V) by 0.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,178 shares of the credit-card processor’s stock after selling 90 shares during the quarter. Visa accounts for approximately 3.7% of Renaissance Investment Group LLC’s holdings, making the stock its 6th biggest holding. Renaissance Investment Group LLC’s holdings in Visa were worth $9,923,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Waverton Investment Management Ltd boosted its stake in shares of Visa by 3.4% during the second quarter. Waverton Investment Management Ltd now owns 720,586 shares of the credit-card processor’s stock valued at $125,058,000 after purchasing an additional 23,811 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its stake in shares of Visa by 6.3% during the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 91,344 shares of the credit-card processor’s stock valued at $15,668,000 after purchasing an additional 5,451 shares in the last quarter. Callahan Advisors LLC boosted its stake in shares of Visa by 0.9% during the second quarter. Callahan Advisors LLC now owns 8,261 shares of the credit-card processor’s stock valued at $1,434,000 after purchasing an additional 76 shares in the last quarter. Intl Fcstone Inc. bought a new position in shares of Visa during the second quarter valued at approximately $300,000. Finally, Foothills Asset Management Ltd. boosted its stake in shares of Visa by 69.4% during the second quarter. Foothills Asset Management Ltd. now owns 35,320 shares of the credit-card processor’s stock valued at $6,130,000 after purchasing an additional 14,474 shares in the last quarter. Hedge funds and other institutional investors own 81.00% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. Goldman Sachs Group reiterated a “sell” rating and set a $42.00 price objective on shares of Daimler in a research note on Wednesday. UBS Group increased their price objective on shares of Tableau Software to $134.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Nomura increased their price objective on shares of Robert Half International from $69.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. reiterated a “buy” rating on shares of SAGE Therapeutics in a research note on Wednesday. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $71.00 price objective on shares of ExlService in a research note on Sunday, April 28th. Two research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $195.29.
V traded up $2.10 during trading on Friday, hitting $183.69. The stock had a trading volume of 5,056,290 shares, compared to its average volume of 5,614,129. The stock has a market cap of $362.47 billion, a P/E ratio of 39.85, a PEG ratio of 2.05 and a beta of 0.96. Visa Inc has a twelve month low of $121.60 and a twelve month high of $183.99. The company has a quick ratio of 1.62, a current ratio of 1.69 and a debt-to-equity ratio of 0.57. The business’s 50 day simple moving average is $175.24.
Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.04. The company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. Visa had a net margin of 53.43% and a return on equity of 41.04%. Visa’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the firm earned $1.20 earnings per share. On average, sell-side analysts anticipate that Visa Inc will post 5.39 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 0.54%. Visa’s dividend payout ratio (DPR) is 21.69%.
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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