Jacobs & Co. CA Has $21.67 Million Stock Holdings in Visa Inc. (NYSE:V)

Jacobs & Co. CA reduced its holdings in shares of Visa Inc. (NYSE:V) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 91,247 shares of the credit-card processor’s stock after selling 3,322 shares during the quarter. Visa makes up about 2.6% of Jacobs & Co. CA’s portfolio, making the stock its 3rd biggest holding. Jacobs & Co. CA’s holdings in Visa were worth $21,669,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in V. Keudell Morrison Wealth Management lifted its holdings in shares of Visa by 0.4% during the first quarter. Keudell Morrison Wealth Management now owns 11,761 shares of the credit-card processor’s stock valued at $2,652,000 after purchasing an additional 43 shares during the last quarter. Successful Portfolios LLC lifted its holdings in shares of Visa by 3.6% during the first quarter. Successful Portfolios LLC now owns 1,232 shares of the credit-card processor’s stock valued at $278,000 after purchasing an additional 43 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Visa by 1.6% during the first quarter. Wedge Capital Management L L P NC now owns 2,914 shares of the credit-card processor’s stock valued at $657,000 after purchasing an additional 45 shares during the last quarter. Financial Management Professionals Inc. lifted its holdings in shares of Visa by 5.2% during the second quarter. Financial Management Professionals Inc. now owns 926 shares of the credit-card processor’s stock valued at $220,000 after purchasing an additional 46 shares during the last quarter. Finally, Seascape Capital Management lifted its holdings in shares of Visa by 0.3% during the first quarter. Seascape Capital Management now owns 16,038 shares of the credit-card processor’s stock valued at $3,616,000 after purchasing an additional 48 shares during the last quarter. 81.35% of the stock is currently owned by institutional investors.

Insider Activity at Visa

In related news, insider Rajat Taneja sold 15,800 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $250.01, for a total transaction of $3,950,158.00. Following the completion of the sale, the insider now owns 232,112 shares in the company, valued at $58,030,321.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Ryan Mcinerney sold 24,025 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total transaction of $5,766,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Rajat Taneja sold 15,800 shares of Visa stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $250.01, for a total transaction of $3,950,158.00. Following the completion of the sale, the insider now owns 232,112 shares in the company, valued at $58,030,321.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 81,550 shares of company stock worth $19,795,806. 0.21% of the stock is owned by corporate insiders.

Visa Stock Performance

Shares of V opened at $244.64 on Tuesday. The business has a 50-day simple moving average of $241.67 and a two-hundred day simple moving average of $232.37. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. Visa Inc. has a 52 week low of $174.60 and a 52 week high of $250.06. The stock has a market cap of $455.48 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 1.81 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.05. Visa had a return on equity of 49.42% and a net margin of 51.94%. The company had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same period in the previous year, the company posted $1.98 EPS. The firm’s revenue was up 11.7% on a year-over-year basis. On average, analysts expect that Visa Inc. will post 8.65 EPS for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, August 10th. This represents a $1.80 annualized dividend and a dividend yield of 0.74%. Visa’s payout ratio is 22.84%.

Analyst Upgrades and Downgrades

V has been the subject of a number of recent analyst reports. Barclays boosted their price objective on shares of Visa from $272.00 to $287.00 and gave the stock an “overweight” rating in a report on Monday, July 24th. Credit Suisse Group boosted their price objective on shares of Visa from $265.00 to $275.00 in a report on Wednesday, July 26th. StockNews.com initiated coverage on shares of Visa in a report on Thursday, August 17th. They issued a “buy” rating for the company. Citigroup boosted their price objective on shares of Visa from $273.00 to $275.00 in a report on Wednesday, July 26th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $248.00 price target on shares of Visa in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $273.77.

About Visa

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.