Visa Inc. (NYSE:V) Stock Position Cut by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. reduced its position in shares of Visa Inc. (NYSE:V) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 133,156 shares of the credit-card processor’s stock after selling 3,494 shares during the quarter. Visa accounts for approximately 1.2% of Dana Investment Advisors Inc.’s holdings, making the stock its 8th biggest position. Dana Investment Advisors Inc.’s holdings in Visa were worth $34,950,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hilltop National Bank purchased a new stake in Visa in the 1st quarter worth approximately $1,212,000. Absolute Capital Management LLC purchased a new position in shares of Visa during the 1st quarter valued at $404,000. Davidson Capital Management Inc. boosted its holdings in 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 period. Empirical Finance LLC increased its stake in Visa by 4.4% in the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after buying an additional 1,914 shares in the last quarter. Finally, Arjuna Capital raised its holdings in Visa by 0.8% during the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after acquiring an additional 96 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on V shares. Compass Point started coverage on shares of Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $322.00 price target on shares of Visa in a report on Wednesday, September 25th. TD Cowen dropped their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. The Goldman Sachs Group restated a “buy” rating and set a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Finally, William Blair upgraded Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $310.22.

Visa Stock Down 0.1 %

Shares of V opened at $274.77 on Tuesday. The firm has a fifty day moving average price of $271.45 and a 200-day moving average price of $273.11. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $502.54 billion, a P/E ratio of 30.70, a P/E/G ratio of 1.94 and a beta of 0.96. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $293.07.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. The firm had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.16 earnings per share. Equities research analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

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

Insider Activity

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

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.