Thrivent Financial for Lutherans Has $56.85 Million Stock Holdings in Visa Inc. (NYSE:V)

Thrivent Financial for Lutherans cut its position in shares of Visa Inc. (NYSE:V) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 216,598 shares of the credit-card processor’s stock after selling 1,508 shares during the period. Thrivent Financial for Lutherans’ holdings in Visa were worth $56,851,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Livelsberger Financial Advisory acquired a new position in Visa in the 4th quarter valued at about $25,000. Westend Capital Management LLC acquired a new position in Visa in the 1st quarter valued at about $25,000. POM Investment Strategies LLC grew its stake in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new position in Visa in the 4th quarter valued at about $33,000. Finally, TruNorth Capital Management LLC grew its stake in 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 buying an additional 89 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on V shares. Citigroup cut their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Morgan Stanley cut their price target on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. William Blair raised shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada dropped their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Six investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.22.

Visa Trading Down 0.2 %

V opened at $284.77 on Monday. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $293.07. 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 company has a fifty day moving average of $270.65 and a 200-day moving average of $273.40. The stock has a market cap of $520.83 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the prior year, the company posted $2.16 earnings per share. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, sell-side analysts predict that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is 23.24%.

Visa 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.