Visa Inc. (NYSE:V) Position Trimmed by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. trimmed its stake in Visa Inc. (NYSE:V) by 54.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 138,622 shares of the credit-card processor’s stock after selling 165,415 shares during the quarter. Visa accounts for 1.6% of Coronation Fund Managers Ltd.’s portfolio, making the stock its 20th largest position. Coronation Fund Managers Ltd.’s holdings in Visa were worth $36,384,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. National Bank of Canada FI grew its stake in Visa by 787.1% in the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after purchasing an additional 4,099,122 shares in the last quarter. Swedbank AB acquired a new stake in shares of Visa during the 1st quarter valued at about $511,321,000. GQG Partners LLC grew its stake in shares of Visa by 40.1% in the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after buying an additional 1,715,686 shares in the last quarter. Wulff Hansen & CO. increased its holdings in Visa by 26,951.9% in the second quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock worth $416,788,000 after buying an additional 1,582,074 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its holdings in Visa by 14,306.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock worth $390,595,000 after buying an additional 1,489,856 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on V. Jefferies Financial Group decreased their target price 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. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Royal Bank of Canada lowered their target price on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Oppenheimer began coverage on Visa in a research report on Tuesday. They issued an “outperform” rating and a $318.00 price target for the company. Finally, Macquarie reissued an “outperform” rating and set a $300.00 price objective on shares of Visa in a report on Friday, September 27th. Six 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $310.93.

Insiders Place Their Bets

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

Visa Trading Up 1.0 %

Shares of V opened at $277.62 on Wednesday. The stock’s 50-day moving average price is $271.71 and its 200 day moving average price is $273.07. 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 firm has a market capitalization of $507.75 billion, a price-to-earnings ratio of 31.02, 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 announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.16 EPS. As a group, research analysts predict that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is 23.24%.

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.