New England Investment & Retirement Group Inc. Makes New $1.33 Million Investment in Visa Inc (NYSE:V)

New England Investment & Retirement Group Inc. acquired a new position in shares of Visa Inc (NYSE:V) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 7,668 shares of the credit-card processor’s stock, valued at approximately $1,331,000. Visa accounts for about 0.5% of New England Investment & Retirement Group Inc.’s holdings, making the stock its 26th biggest position.

Several other hedge funds have also recently modified their holdings of the business. Laurel Wealth Advisors Inc. lifted its position in shares of Visa by 12.0% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 7,181 shares of the credit-card processor’s stock valued at $1,122,000 after acquiring an additional 767 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Visa by 18.2% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 406,519 shares of the credit-card processor’s stock valued at $63,494,000 after acquiring an additional 62,736 shares during the period. Commonwealth Bank of Australia lifted its position in shares of Visa by 6.9% during the 4th quarter. Commonwealth Bank of Australia now owns 94,679 shares of the credit-card processor’s stock valued at $12,488,000 after acquiring an additional 6,088 shares during the period. WINTON GROUP Ltd lifted its position in shares of Visa by 0.7% during the 4th quarter. WINTON GROUP Ltd now owns 14,060 shares of the credit-card processor’s stock valued at $1,855,000 after acquiring an additional 98 shares during the period. Finally, Investec Asset Management LTD lifted its position in shares of Visa by 6.6% during the 2nd quarter. Investec Asset Management LTD now owns 4,900,087 shares of the credit-card processor’s stock valued at $850,410,000 after acquiring an additional 305,148 shares during the period. 81.63% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated a “buy” rating and set a $181.00 price target on shares of Visa in a research report on Sunday, April 28th. Barclays lifted their price target on shares of Visa from $181.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Robert W. Baird set a $196.00 price target on shares of Visa and gave the company a “buy” rating in a research report on Friday, July 19th. Piper Jaffray Companies set a $207.00 price target on shares of Visa and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Bank of America lifted their price target on shares of Visa from $177.00 to $192.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Two analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Visa has an average rating of “Buy” and an average target price of $195.46.



Shares of Visa stock traded down $4.36 during trading on Wednesday, hitting $174.25. 1,971,262 shares of the company were exchanged, compared to its average volume of 7,765,283. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.69. Visa Inc has a fifty-two week low of $121.60 and a fifty-two week high of $184.07. The stock has a market cap of $355.22 billion, a PE ratio of 37.80, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The stock has a 50 day moving average of $177.94.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.04. Visa had a return on equity of 41.04% and a net margin of 53.43%. The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the firm posted $1.20 EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, research analysts forecast that Visa Inc will post 5.4 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be paid a $0.25 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 0.57%. Visa’s payout ratio is currently 21.69%.

In other news, Director Denise M. Morrison bought 1,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was purchased at an average cost of $171.13 per share, with a total value of $171,130.00. Following the purchase, the director now owns 3,223 shares of the company’s stock, valued at $551,551.99. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lloyd Carney sold 3,500 shares of Visa stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $182.73, for a total transaction of $639,555.00. Following the completion of the sale, the director now directly owns 3,452 shares of the company’s stock, valued at $630,783.96. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

About Visa

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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