Guardian Investment Management cut its holdings in shares of Visa Inc (NYSE:V) by 2.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,262 shares of the credit-card processor’s stock after selling 884 shares during the period. Visa comprises approximately 2.1% of Guardian Investment Management’s investment portfolio, making the stock its 17th biggest position. Guardian Investment Management’s holdings in Visa were worth $2,414,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of V. Berkeley Capital Partners LLC lifted its stake in shares of Visa by 1.5% in the second quarter. Berkeley Capital Partners LLC now owns 3,939 shares of the credit-card processor’s stock worth $684,000 after buying an additional 57 shares in the last quarter. Enterprise Financial Services Corp grew its stake in Visa by 0.8% during the 2nd quarter. Enterprise Financial Services Corp now owns 7,649 shares of the credit-card processor’s stock worth $1,328,000 after buying an additional 59 shares during the last quarter. Radnor Capital Management LLC grew its stake in Visa by 0.8% during the 2nd quarter. Radnor Capital Management LLC now owns 8,060 shares of the credit-card processor’s stock worth $1,399,000 after buying an additional 60 shares during the last quarter. Peninsula Wealth LLC grew its stake in Visa by 0.8% during the 2nd quarter. Peninsula Wealth LLC now owns 7,608 shares of the credit-card processor’s stock worth $1,319,000 after buying an additional 61 shares during the last quarter. Finally, Glassman Wealth Services grew its stake in Visa by 2.2% during the 2nd quarter. Glassman Wealth Services now owns 3,024 shares of the credit-card processor’s stock worth $525,000 after buying an additional 64 shares during the last quarter. Institutional investors and hedge funds own 80.99% of the company’s stock.
A number of research analysts recently commented on V shares. KeyCorp upped their price objective on Visa from $190.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Wells Fargo & Co raised their target price on Visa from $181.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. Wedbush restated an “outperform” rating on shares of Visa in a research report on Wednesday, July 3rd. Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating and set a $180.00 target price for the company. in a research report on Saturday, June 15th. Finally, Deutsche Bank raised their target price on Visa from $177.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $196.57.
V stock traded up $0.09 during midday trading on Wednesday, reaching $174.57. 2,446,588 shares of the company’s stock traded hands, compared to its average volume of 6,677,488. The company has a 50-day simple moving average of $177.95 and a two-hundred day simple moving average of $168.76. Visa Inc has a 1-year low of $121.60 and a 1-year high of $187.05. The company has a market cap of $345.32 billion, a price-to-earnings ratio of 37.87, a PEG ratio of 1.96 and a beta of 0.97. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.57.
Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.04. The firm had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Visa had a return on equity of 41.04% and a net margin of 53.43%. The business’s revenue was up 11.5% on a year-over-year basis. During the same period last year, the firm posted $1.20 EPS. Equities research analysts forecast that Visa Inc will post 5.4 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were issued a $0.25 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.57%. Visa’s dividend payout ratio (DPR) is 21.69%.
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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