Ithaka Group LLC Has $19.48 Million Stock Holdings in Visa Inc. (NYSE:V)

Ithaka Group LLC reduced its stake in shares of Visa Inc. (NYSE:V) by 3.9% in the second quarter, HoldingsChannel.com reports. The firm owned 74,199 shares of the credit-card processor’s stock after selling 3,045 shares during the period. Visa comprises about 3.6% of Ithaka Group LLC’s investment portfolio, making the stock its 10th largest holding. Ithaka Group LLC’s holdings in Visa were worth $19,475,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. Alaethes Wealth LLC grew its position in Visa by 0.4% in the 4th quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after purchasing an additional 37 shares during the period. Jessup Wealth Management Inc grew its position in shares of Visa by 0.7% during the 1st quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock valued at $1,410,000 after acquiring an additional 37 shares during the period. Long Run Wealth Advisors LLC grew its position in shares of Visa by 2.5% during the 1st quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock valued at $424,000 after acquiring an additional 37 shares during the period. Cordatus Wealth Management LLC grew its position in shares of Visa by 0.3% during the 1st quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock valued at $3,012,000 after acquiring an additional 37 shares during the period. Finally, Garden State Investment Advisory Services LLC grew its position in shares of Visa by 1.8% during the 4th quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after acquiring an additional 38 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

V stock opened at $287.35 on Monday. The stock has a market cap of $523.64 billion, a PE ratio of 32.11, a P/E/G ratio of 2.01 and a beta of 0.96. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $290.96. The company has a 50-day moving average price of $268.29 and a 200 day moving average price of $273.16. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last announced its 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. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same quarter in the previous year, the business earned $2.16 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.72%. Visa’s payout ratio is 23.24%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on V. Morgan Stanley cut their price objective on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Macquarie reissued an “outperform” rating and set a $300.00 price objective on shares of Visa in a research report on Wednesday, July 24th. Evercore ISI lowered their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Citigroup lowered their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $309.81.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate 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.