Dock Street Asset Management Inc. Increases Position in Visa Inc. (NYSE:V)

Dock Street Asset Management Inc. boosted its holdings in Visa Inc. (NYSE:VGet Rating) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 82,046 shares of the credit-card processor’s stock after acquiring an additional 2,107 shares during the quarter. Visa accounts for approximately 3.5% of Dock Street Asset Management Inc.’s investment portfolio, making the stock its 9th biggest holding. Dock Street Asset Management Inc.’s holdings in Visa were worth $16,154,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Visa by 1.9% in the 4th quarter. BlackRock Inc. now owns 129,031,301 shares of the credit-card processor’s stock valued at $27,962,374,000 after acquiring an additional 2,440,030 shares in the last quarter. State Street Corp lifted its position in shares of Visa by 2.1% during the 4th quarter. State Street Corp now owns 74,542,114 shares of the credit-card processor’s stock worth $16,154,022,000 after buying an additional 1,504,897 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Visa by 11.5% during the 4th quarter. Alliancebernstein L.P. now owns 25,850,411 shares of the credit-card processor’s stock worth $5,602,043,000 after buying an additional 2,659,845 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Visa by 33.1% during the 1st quarter. Wellington Management Group LLP now owns 22,222,170 shares of the credit-card processor’s stock worth $4,928,211,000 after buying an additional 5,527,427 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in shares of Visa by 3.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 14,615,166 shares of the credit-card processor’s stock worth $3,167,253,000 after buying an additional 518,570 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

Visa Stock Down 2.6 %

V opened at $187.02 on Thursday. The company has a fifty day moving average price of $206.70 and a 200-day moving average price of $207.03. The firm has a market capitalization of $353.55 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 1.55 and a beta of 0.90. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.43 and a quick ratio of 1.43. Visa Inc. has a one year low of $185.91 and a one year high of $236.96.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Thursday, August 11th. Visa’s dividend payout ratio is currently 22.12%.

Analyst Ratings Changes

Several research firms have commented on V. Wolfe Research dropped their target price on shares of Visa from $285.00 to $260.00 in a research report on Wednesday, July 20th. Wells Fargo & Company dropped their target price on shares of Visa from $280.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 13th. Morgan Stanley lifted their price target on shares of Visa from $284.00 to $291.00 and gave the stock an “overweight” rating in a report on Wednesday, July 27th. Barclays lifted their price target on shares of Visa from $263.00 to $271.00 and gave the stock an “overweight” rating in a report on Thursday, July 28th. Finally, Susquehanna lowered their price target on shares of Visa from $290.00 to $260.00 in a report on Thursday, July 28th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $257.64.

Insider Transactions at Visa

In other news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction on Friday, July 29th. The shares were sold at an average price of $212.11, for a total transaction of $1,908,990.00. Following the completion of the sale, the chief executive officer now directly owns 156,887 shares of the company’s stock, valued at approximately $33,277,301.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.21% of the stock is currently owned by insiders.

Visa Profile

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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.

See Also

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Institutional Ownership by Quarter for Visa (NYSE:V)

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