Capital Investment Advisors LLC raised its position in Visa Inc. (NYSE:V – Free Report) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,036 shares of the credit-card processor’s stock after purchasing an additional 1,049 shares during the period. Capital Investment Advisors LLC’s holdings in Visa were worth $5,708,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Financial Freedom LLC bought a new position in Visa in the fourth quarter valued at approximately $32,000. Ridgewood Investments LLC acquired a new position in shares of Visa during the first quarter worth about $35,000. Kalos Management Inc. bought a new position in shares of Visa during the first quarter worth about $40,000. NewSquare Capital LLC lifted its stake in Visa by 121.9% in the 1st quarter. NewSquare Capital LLC now owns 213 shares of the credit-card processor’s stock valued at $48,000 after acquiring an additional 117 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC lifted its stake in Visa by 666.7% in the 1st quarter. Moisand Fitzgerald Tamayo LLC now owns 230 shares of the credit-card processor’s stock valued at $52,000 after acquiring an additional 200 shares in the last quarter. 81.35% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of Visa from $270.00 to $275.00 in a report on Tuesday, July 18th. Susquehanna increased their price objective on shares of Visa from $266.00 to $300.00 in a research note on Wednesday, July 26th. Barclays upped their target price on Visa from $272.00 to $287.00 and gave the stock an “overweight” rating in a report on Monday, July 24th. Citigroup raised their price target on Visa from $273.00 to $275.00 in a research note on Wednesday, July 26th. Finally, Royal Bank of Canada upped their price objective on Visa from $265.00 to $290.00 in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $273.77.
Visa Stock Up 1.5 %
Shares of V opened at $244.64 on Tuesday. The firm has a market cap of $455.48 billion, a P/E ratio of 31.05, a price-to-earnings-growth ratio of 1.81 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 1.49. Visa Inc. has a 52 week low of $174.60 and a 52 week high of $250.06. The firm’s 50-day simple moving average is $241.67 and its 200 day simple moving average is $232.37.
Visa (NYSE:V – Get Free Report) last announced its earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.05. The company had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.06 billion. Visa had a return on equity of 49.42% and a net margin of 51.94%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.98 earnings per share. On average, analysts forecast that Visa Inc. will post 8.65 earnings per share for the current year.
Visa Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Thursday, August 10th. Visa’s dividend payout ratio is currently 22.84%.
In other news, insider Rajat Taneja sold 2,300 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total transaction of $552,000.00. Following the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at $55,706,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Visa news, CEO Ryan Mcinerney sold 425 shares of the stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $240.00, for a total transaction of $102,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Rajat Taneja sold 2,300 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total transaction of $552,000.00. Following the completion of the transaction, the insider now directly owns 232,112 shares in the company, valued at $55,706,880. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,550 shares of company stock valued at $19,795,806. 0.21% of the stock is owned by company insiders.
Visa Company Profile
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.
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