Sequoia Financial Advisors LLC boosted its holdings in Visa Inc (NYSE:V) by 3.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 10,175 shares of the credit-card processor’s stock after buying an additional 337 shares during the period. Sequoia Financial Advisors LLC’s holdings in Visa were worth $1,766,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Mizuho Securities Co. Ltd. raised its stake in shares of Visa by 31.1% during the second quarter. Mizuho Securities Co. Ltd. now owns 23,750 shares of the credit-card processor’s stock valued at $4,122,000 after purchasing an additional 5,640 shares during the period. Weatherly Asset Management L. P. raised its stake in shares of Visa by 10.0% during the second quarter. Weatherly Asset Management L. P. now owns 39,266 shares of the credit-card processor’s stock valued at $6,815,000 after purchasing an additional 3,582 shares during the period. Aperio Group LLC raised its stake in shares of Visa by 2.0% during the second quarter. Aperio Group LLC now owns 1,492,495 shares of the credit-card processor’s stock valued at $259,023,000 after purchasing an additional 29,346 shares during the period. Enterprise Financial Services Corp increased its stake in shares of Visa by 0.8% in the second 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. Finally, Highstreet Asset Management Inc. increased its stake in shares of Visa by 0.5% in the second quarter. Highstreet Asset Management Inc. now owns 25,135 shares of the credit-card processor’s stock worth $4,362,000 after buying an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 81.63% of the company’s stock.
In related news, Director Denise M. Morrison acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average cost of $171.13 per share, for a total transaction of $171,130.00. Following the completion of the purchase, the director now directly owns 3,223 shares in the company, valued at $551,551.99. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lloyd Carney sold 3,500 shares of Visa stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $182.73, for a total transaction of $639,555.00. Following the sale, the director now owns 3,452 shares in the company, valued at $630,783.96. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.
Visa stock traded down $3.68 during mid-day trading on Wednesday, reaching $174.93. The company’s stock had a trading volume of 1,703,761 shares, compared to its average volume of 7,765,283. Visa Inc has a twelve month low of $121.60 and a twelve month high of $184.07. The company has a market capitalization of $355.22 billion, a price-to-earnings ratio of 37.95, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.57. The firm’s 50 day moving average is $177.94.
Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.04. Visa had a net margin of 53.43% and a return on equity of 41.04%. The company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, research analysts expect that Visa Inc will post 5.4 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Thursday, August 15th. Visa’s dividend payout ratio is currently 21.69%.
A number of analysts recently issued reports on V shares. Bank of America lifted their price target on shares of Visa from $177.00 to $192.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating and set a $180.00 price target for the company. in a research note on Saturday, June 15th. Raymond James lifted their price target on shares of Visa from $177.00 to $193.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Morgan Stanley lifted their price target on shares of Visa from $175.00 to $191.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, Deutsche Bank lifted their price target on shares of Visa from $177.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Visa currently has a consensus rating of “Buy” and a consensus target price of $195.46.
Visa Company Profile
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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