Panagora Asset Management Inc. Has $98.25 Million Stock Holdings in Visa Inc. (NYSE:V)

Panagora Asset Management Inc. lessened its holdings in Visa Inc. (NYSE:V) by 33.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 464,032 shares of the credit-card processor’s stock after selling 231,273 shares during the period. Panagora Asset Management Inc.’s holdings in Visa were worth $98,250,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. OLD Mission Capital LLC purchased a new stake in shares of Visa during the third quarter worth $373,000. FWL Investment Management LLC purchased a new stake in shares of Visa during the fourth quarter worth $3,668,000. Sage Mountain Advisors LLC purchased a new stake in shares of Visa during the fourth quarter worth $1,120,000. Eagle Capital Management LLC raised its holdings in shares of Visa by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 27,580 shares of the credit-card processor’s stock worth $6,033,000 after acquiring an additional 195 shares in the last quarter. Finally, Wade G W & Inc. raised its holdings in shares of Visa by 73.9% during the fourth quarter. Wade G W & Inc. now owns 12,672 shares of the credit-card processor’s stock worth $2,772,000 after acquiring an additional 5,386 shares in the last quarter. 81.35% of the stock is owned by institutional investors and hedge funds.

In other Visa news, President Ryan Mcinerney sold 11,194 shares of Visa stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $213.87, for a total transaction of $2,394,060.78. Following the sale, the president now directly owns 11,194 shares of the company’s stock, valued at $2,394,060.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rajat Taneja sold 31,750 shares of Visa stock in a transaction that occurred on Thursday, April 22nd. The shares were sold at an average price of $230.00, for a total value of $7,302,500.00. Following the sale, the insider now directly owns 282,606 shares in the company, valued at $64,999,380. The disclosure for this sale can be found here. Insiders have sold 118,611 shares of company stock worth $26,847,669 over the last ninety days. Company insiders own 0.19% of the company’s stock.

V stock traded up $0.98 during trading on Friday, reaching $234.93. 23,611 shares of the stock were exchanged, compared to its average volume of 8,625,912. Visa Inc. has a twelve month low of $179.23 and a twelve month high of $237.50. The firm has a market capitalization of $457.63 billion, a P/E ratio of 48.34, a P/E/G ratio of 2.20 and a beta of 1.00. The business’s 50 day simple moving average is $227.07. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.12 and a quick ratio of 2.12.

Visa (NYSE:V) last released its earnings results on Tuesday, April 27th. The credit-card processor reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.12. Visa had a return on equity of 33.86% and a net margin of 49.93%. The business had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same period last year, the business earned $1.39 earnings per share. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities research analysts expect that Visa Inc. will post 5.57 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Friday, May 14th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Thursday, May 13th. Visa’s payout ratio is 25.40%.

Several equities analysts have weighed in on V shares. Robert W. Baird restated a “buy” rating and set a $282.00 target price on shares of Visa in a report on Thursday. Mizuho raised their target price on Visa from $250.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, April 28th. Barclays raised their target price on Visa from $275.00 to $284.00 and gave the company an “overweight” rating in a report on Sunday, June 6th. Oppenheimer raised their target price on Visa from $245.00 to $260.00 in a report on Wednesday, April 28th. Finally, Jefferies Financial Group raised their target price on Visa from $260.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, April 28th. Twenty-four research analysts have rated the stock with a buy rating, Visa has a consensus rating of “Buy” and an average target price of $254.46.

About Visa

Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

Further Reading: Cost of Equity

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Institutional Ownership by Quarter for Visa (NYSE:V)

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