Mogy Joel R Investment Counsel Inc. raised its position in shares of Visa Inc (NYSE:V) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 199,501 shares of the credit-card processor’s stock after acquiring an additional 2,010 shares during the period. Visa makes up approximately 3.5% of Mogy Joel R Investment Counsel Inc.’s investment portfolio, making the stock its 5th largest position. Mogy Joel R Investment Counsel Inc.’s holdings in Visa were worth $20,995,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of V. Cadence Bank NA lifted its stake in Visa by 9.1% during the second quarter. Cadence Bank NA now owns 2,694 shares of the credit-card processor’s stock worth $253,000 after purchasing an additional 224 shares during the last quarter. Barnett & Company Inc. lifted its stake in Visa by 202.4% during the second quarter. Barnett & Company Inc. now owns 3,000 shares of the credit-card processor’s stock worth $281,000 after purchasing an additional 2,008 shares during the last quarter. River Wealth Advisors LLC lifted its stake in Visa by 18.0% during the second quarter. River Wealth Advisors LLC now owns 21,859 shares of the credit-card processor’s stock worth $2,050,000 after purchasing an additional 3,334 shares during the last quarter. Braun Stacey Associates Inc. lifted its stake in Visa by 0.3% during the second quarter. Braun Stacey Associates Inc. now owns 15,200 shares of the credit-card processor’s stock worth $1,425,000 after purchasing an additional 50 shares during the last quarter. Finally, Ingalls & Snyder LLC lifted its stake in Visa by 5.2% during the second quarter. Ingalls & Snyder LLC now owns 23,153 shares of the credit-card processor’s stock worth $2,171,000 after purchasing an additional 1,134 shares during the last quarter. Institutional investors own 81.28% of the company’s stock.
Visa Inc (NYSE:V) traded up $2.18 during mid-day trading on Monday, hitting $118.50. 6,788,982 shares of the stock were exchanged, compared to its average volume of 8,912,649. The company has a market cap of $269,160.00, a PE ratio of 39.17, a PEG ratio of 1.54 and a beta of 1.03. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.60. Visa Inc has a one year low of $86.00 and a one year high of $126.88.
Visa (NYSE:V) last released its quarterly earnings data on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.10. The company had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Visa had a net margin of 38.12% and a return on equity of 32.97%. The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. research analysts forecast that Visa Inc will post 4.36 EPS for the current year.
Visa announced that its Board of Directors has initiated a stock buyback program on Thursday, February 1st that authorizes the company to buyback $7.50 billion in shares. This buyback authorization authorizes the credit-card processor to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Friday, February 16th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Thursday, February 15th. This is a boost from Visa’s previous quarterly dividend of $0.20. Visa’s dividend payout ratio is 25.83%.
In other Visa news, EVP Tullier Kelly Mahon sold 49,702 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $113.66, for a total value of $5,649,129.32. Following the completion of the sale, the executive vice president now owns 76,202 shares in the company, valued at approximately $8,661,119.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP James H. Hoffmeister sold 2,146 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $112.09, for a total transaction of $240,545.14. Following the completion of the sale, the senior vice president now owns 687 shares of the company’s stock, valued at approximately $77,005.83. The disclosure for this sale can be found here. Insiders have sold a total of 58,068 shares of company stock worth $6,597,262 in the last three months. Insiders own 0.14% of the company’s stock.
Several equities research analysts have weighed in on the company. BMO Capital Markets restated a “positive” rating and set a $148.00 target price on shares of Visa in a research note on Monday, February 5th. Vetr upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $126.37 price target for the company in a report on Monday, February 5th. Mizuho reiterated a “buy” rating and set a $136.00 price target on shares of Visa in a report on Friday, February 2nd. Guggenheim reiterated a “buy” rating and set a $136.00 price target on shares of Visa in a report on Friday, February 2nd. Finally, Loop Capital upped their price target on shares of Visa to $142.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. Visa has a consensus rating of “Buy” and an average target price of $133.85.
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Visa Company Profile
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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