Visa Inc. (NYSE:V) Stock Holdings Boosted by Patrick M Sweeney & Associates Inc.

Patrick M Sweeney & Associates Inc. boosted its position in Visa Inc. (NYSE:V) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,902 shares of the credit-card processor’s stock after purchasing an additional 116 shares during the quarter. Visa comprises 1.5% of Patrick M Sweeney & Associates Inc.’s holdings, making the stock its 15th biggest position. Patrick M Sweeney & Associates Inc.’s holdings in Visa were worth $1,804,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nadler Financial Group Inc. raised its position in shares of Visa by 2.4% during the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after buying an additional 44 shares in the last quarter. Andrew Hill Investment Advisors Inc. bought a new stake in Visa during the fourth quarter worth approximately $3,427,000. Knights of Columbus Asset Advisors LLC lifted its position in Visa by 1.1% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 75,421 shares of the credit-card processor’s stock worth $19,636,000 after purchasing an additional 795 shares during the period. Hilltop National Bank bought a new position in Visa during the 1st quarter valued at $1,212,000. Finally, TCI Wealth Advisors Inc. increased its position in shares of Visa by 0.8% during the 4th quarter. TCI Wealth Advisors Inc. now owns 5,107 shares of the credit-card processor’s stock valued at $1,330,000 after purchasing an additional 40 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on V shares. Bank of America reaffirmed a “neutral” rating and issued a $297.00 price objective (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Mizuho increased their price objective on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. UBS Group lifted their target price on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Macquarie reiterated an “outperform” rating and issued a $300.00 price target on shares of Visa in a research report on Wednesday, July 24th. Finally, Citigroup cut their price objective on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $307.25.

Visa Price Performance

Shares of Visa stock traded up $5.67 during trading on Thursday, hitting $266.81. 7,397,535 shares of the company’s stock traded hands, compared to its average volume of 7,241,343. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $486.21 billion, a PE ratio of 29.53, a PEG ratio of 1.83 and a beta of 0.95. The firm’s fifty day moving average price is $266.84 and its 200 day moving average price is $273.69.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter last year, the company earned $2.16 EPS. Visa’s revenue was up 9.6% on a year-over-year basis. Analysts forecast that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s payout ratio is currently 23.24%.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. 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, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; 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.