Value Partners Investments Inc. increased its position in shares of Visa Inc. (NYSE:V – Get Rating) by 6.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,714 shares of the credit-card processor's stock after acquiring an additional 420 shares during the period. Value Partners Investments Inc.'s holdings in Visa were worth $1,319,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Trust Co. of Virginia VA grew its position in Visa by 0.9% during the 1st quarter. Trust Co. of Virginia VA now owns 82,676 shares of the credit-card processor's stock worth $18,335,000 after acquiring an additional 768 shares during the last quarter. Relyea Zuckerberg Hanson LLC grew its position in Visa by 21.4% during the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 3,629 shares of the credit-card processor's stock worth $774,000 after acquiring an additional 640 shares during the last quarter. Adams Chetwood Wealth Management LLC grew its position in Visa by 13.2% during the 1st quarter. Adams Chetwood Wealth Management LLC now owns 4,334 shares of the credit-card processor's stock worth $961,000 after acquiring an additional 507 shares during the last quarter. Newman Dignan & Sheerar Inc. lifted its holdings in Visa by 1.7% during the 1st quarter. Newman Dignan & Sheerar Inc. now owns 6,088 shares of the credit-card processor's stock worth $1,350,000 after buying an additional 100 shares during the period. Finally, Sugarloaf Wealth Management LLC lifted its holdings in Visa by 4.3% during the 1st quarter. Sugarloaf Wealth Management LLC now owns 13,155 shares of the credit-card processor's stock worth $2,938,000 after buying an additional 548 shares during the period. Institutional investors own 81.49% of the company's stock.
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Analysts Set New Price Targets
V has been the topic of several recent research reports. UBS Group lifted their target price on Visa from $292.00 to $296.00 and gave the stock a "buy" rating in a report on Wednesday, July 27th. Royal Bank of Canada cut their target price on Visa from $278.00 to $262.00 in a report on Wednesday, July 27th. Morgan Stanley lifted their target price on Visa from $284.00 to $291.00 and gave the stock an "overweight" rating in a report on Wednesday, July 27th. Susquehanna Bancshares cut their target price on Visa from $290.00 to $260.00 in a report on Thursday, July 28th. Finally, Wolfe Research cut their target price on Visa from $285.00 to $260.00 in a report on Wednesday, July 20th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $257.64.
Visa Stock Performance
Shares of Visa stock opened at $180.06 on Friday. Visa Inc. has a one year low of $174.83 and a one year high of $236.96. The firm has a market capitalization of $340.39 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 1.45 and a beta of 0.90. The business has a 50-day simple moving average of $203.12 and a 200 day simple moving average of $206.40. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.43 and a quick ratio of 1.43.
Visa (NYSE:V – Get Rating) last issued its quarterly earnings data on Tuesday, July 26th. The credit-card processor reported $1.98 EPS for the quarter, topping analysts' consensus estimates of $1.74 by $0.24. The firm had revenue of $7.28 billion during the quarter, compared to analyst estimates of $7.06 billion. Visa had a return on equity of 46.39% and a net margin of 51.99%. On average, research analysts anticipate that Visa Inc. will post 7.43 earnings per share for the current fiscal year.
Visa Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 12th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend was Thursday, August 11th. Visa's dividend payout ratio is currently 22.12%.
Insiders Place Their Bets
In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business's stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $212.11, for a total transaction of $1,908,990.00. Following the completion of the sale, the chief executive officer now directly owns 156,887 shares of the company's stock, valued at approximately $33,277,301.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.21% of the company's stock.
Visa Profile
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Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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