Pinkerton Retirement Specialists LLC lifted its stake in Visa Inc (NYSE:V) by 6.1% during the second quarter, HoldingsChannel reports. The firm owned 17,044 shares of the credit-card processor’s stock after purchasing an additional 975 shares during the period. Visa accounts for about 1.0% of Pinkerton Retirement Specialists LLC’s holdings, making the stock its 28th largest position. Pinkerton Retirement Specialists LLC’s holdings in Visa were worth $2,958,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Lowe Wealth Advisors LLC grew its holdings in Visa by 114.7% during the 2nd quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 86 shares in the last quarter. Personal Wealth Partners bought a new position in Visa during the 2nd quarter worth about $30,000. Essex Investment Management Co. LLC bought a new position in Visa during the 4th quarter worth about $33,000. Mcmillion Capital Management Inc. bought a new position in Visa during the 2nd quarter worth about $38,000. Finally, Hexavest Inc. bought a new position in Visa during the 2nd quarter worth about $40,000. Hedge funds and other institutional investors own 81.34% of the company’s stock.
In other Visa news, Director Lloyd Carney sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $182.73, for a total transaction of $639,555.00. Following the completion of the transaction, the director now directly owns 3,452 shares of the company’s stock, valued at approximately $630,783.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Denise M. Morrison purchased 1,000 shares of Visa stock in a transaction on Tuesday, August 6th. The shares were acquired at an average cost of $171.13 per share, with a total value of $171,130.00. Following the completion of the transaction, the director now directly owns 3,223 shares in the company, valued at approximately $551,551.99. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.
Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $1.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.04. The firm had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.70 billion. Visa had a net margin of 53.43% and a return on equity of 41.04%. Visa’s revenue was up 11.5% on a year-over-year basis. During the same period last year, the firm posted $1.20 EPS. As a group, equities analysts forecast that Visa Inc will post 5.4 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Thursday, August 15th. Visa’s payout ratio is currently 21.69%.
Several research analysts have issued reports on the stock. Cantor Fitzgerald reiterated a “buy” rating and set a $181.00 target price on shares of Visa in a report on Sunday, April 28th. Guggenheim increased their target price on shares of Visa from $178.00 to $190.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Bank of America increased their target price on shares of Visa from $177.00 to $192.00 and gave the stock a “buy” rating in a report on Monday, June 17th. UBS Group increased their target price on shares of Visa from $183.00 to $187.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. increased their target price on shares of Visa from $166.00 to $182.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $195.46.
Visa Company Profile
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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