Great Lakes Advisors LLC Has $8.80 Million Stock Position in Visa Inc. (NYSE:V)

Great Lakes Advisors LLC lessened its position in Visa Inc. (NYSE:V) by 10.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 33,519 shares of the credit-card processor’s stock after selling 4,104 shares during the period. Great Lakes Advisors LLC’s holdings in Visa were worth $8,798,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of V. Livelsberger Financial Advisory bought a new position in Visa in the 4th quarter valued at about $25,000. Westend Capital Management LLC purchased a new position in shares of Visa during the first quarter valued at approximately $25,000. POM Investment Strategies LLC boosted its position in shares of Visa by 970.0% during the second 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 purchased a new stake in Visa in the 4th quarter valued at $33,000. Finally, TruNorth Capital Management LLC lifted its stake in Visa by 211.9% during 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 in the last quarter. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Citigroup dropped their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price target on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research note on Tuesday, September 3rd. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Finally, William Blair upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $309.54.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Visa Stock Performance

Visa stock opened at $279.37 on Friday. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $509.10 billion, a P/E ratio of 31.21, a price-to-earnings-growth ratio of 1.98 and a beta of 0.96. The firm’s fifty day moving average price is $266.53 and its 200-day moving average price is $273.13.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $2.16 EPS. On average, equities research analysts expect that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed 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 of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.74%. Visa’s dividend payout ratio is currently 23.24%.

Visa Company 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.