United Asset Strategies Inc. increased its stake in shares of Visa Inc (NYSE:V) by 12.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,950 shares of the credit-card processor’s stock after purchasing an additional 325 shares during the quarter. United Asset Strategies Inc.’s holdings in Visa were worth $512,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the stock. Bradley Foster & Sargent Inc. CT lifted its holdings in Visa by 5.1% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 31,453 shares of the credit-card processor’s stock worth $4,150,000 after buying an additional 1,522 shares during the period. Ironvine Capital Partners LLC lifted its holdings in Visa by 38.2% during the fourth quarter. Ironvine Capital Partners LLC now owns 63,418 shares of the credit-card processor’s stock worth $8,624,000 after buying an additional 17,540 shares during the period. Financial Advantage Inc. purchased a new stake in Visa during the fourth quarter worth $68,000. Emerald Advisers LLC lifted its holdings in Visa by 22.6% during the fourth quarter. Emerald Advisers LLC now owns 3,664 shares of the credit-card processor’s stock worth $483,000 after buying an additional 675 shares during the period. Finally, AMF Pensionsforsakring AB lifted its holdings in Visa by 1.0% during the fourth quarter. AMF Pensionsforsakring AB now owns 1,199,101 shares of the credit-card processor’s stock worth $158,209,000 after buying an additional 11,850 shares during the period. Institutional investors and hedge funds own 81.63% of the company’s stock.
In related news, Director Lloyd Carney sold 3,500 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $182.73, for a total value of $639,555.00. Following the transaction, the director now directly owns 3,452 shares of the company’s stock, valued at approximately $630,783.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Denise M. Morrison bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $171.13 per share, for a total transaction of $171,130.00. Following the completion of the transaction, the director now owns 3,223 shares in the company, valued at $551,551.99. The disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.
NYSE V opened at $174.30 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.69 and a current ratio of 1.69. The firm has a fifty day moving average price of $177.99. Visa Inc has a 1 year low of $121.60 and a 1 year high of $184.07. The firm has a market cap of $349.84 billion, a P/E ratio of 37.81, a price-to-earnings-growth ratio of 1.97 and a beta of 0.96.
Visa (NYSE:V) last released its 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 return on equity of 41.04% and a net margin of 53.43%. The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the prior year, the firm earned $1.20 EPS. The firm’s revenue was up 11.5% on a year-over-year basis. As a group, sell-side analysts predict that Visa Inc will post 5.4 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Thursday, August 15th. Visa’s payout ratio is 21.69%.
A number of equities analysts have recently issued reports on the company. Robert W. Baird set a $196.00 price target on Visa and gave the stock a “buy” rating in a research report on Friday, July 19th. Jefferies Financial Group upped their price target on Visa from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Citigroup set a $206.00 price target on Visa and gave the stock a “buy” rating in a research report on Friday, July 19th. BMO Capital Markets upped their price target on Visa to $214.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $181.00 price target on shares of Visa in a research report on Sunday, April 28th. Two analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock presently 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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