Giverny Capital Inc. grew its position in Visa Inc (NYSE:V) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 309,767 shares of the credit-card processor’s stock after purchasing an additional 7,262 shares during the period. Visa comprises about 5.4% of Giverny Capital Inc.’s portfolio, making the stock its 4th largest position. Giverny Capital Inc.’s holdings in Visa were worth $53,760,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Krane Funds Advisors LLC bought a new position in shares of Visa in the 2nd quarter valued at about $26,000. Lowe Wealth Advisors LLC boosted its holdings in shares of Visa by 114.7% during the 2nd quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock worth $28,000 after buying an additional 86 shares during the period. Personal Wealth Partners bought a new stake in shares of Visa during the 2nd quarter worth about $30,000. Essex Investment Management Co. LLC bought a new stake in shares of Visa during the 4th quarter worth about $33,000. Finally, Mcmillion Capital Management Inc. bought a new stake in shares of Visa during the 2nd quarter worth about $38,000. Institutional investors and hedge funds own 81.20% of the company’s stock.
V has been the subject of several research analyst reports. SunTrust Banks lifted their target price on shares of Visa to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. UBS Group lifted their target price on shares of Visa from $183.00 to $187.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Barclays lifted their target price on shares of Visa from $181.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Bank of America lifted their target price on shares of Visa from $177.00 to $192.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Finally, Raymond James lifted their target price on shares of Visa from $177.00 to $193.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $196.57.
In other news, insider Vasant M. Prabhu sold 25,051 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.14, for a total value of $4,537,738.14. Following the sale, the insider now directly owns 62,223 shares of the company’s stock, valued at approximately $11,271,074.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Denise M. Morrison acquired 1,000 shares of Visa stock in a transaction dated 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 purchase, the director now owns 3,223 shares in the company, valued at approximately $551,551.99. The disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.
V stock traded down $0.41 during trading on Friday, reaching $177.57. 1,153,673 shares of the company were exchanged, compared to its average volume of 5,973,028. The company has a 50-day moving average of $179.24 and a two-hundred day moving average of $167.08. The company has a market capitalization of $349.86 billion, a price-to-earnings ratio of 38.52, a P/E/G ratio of 1.98 and a beta of 0.97. Visa Inc has a twelve month low of $121.60 and a twelve month high of $187.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.69.
Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.04. The business had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Visa had a net margin of 53.43% and a return on equity of 41.04%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 EPS. On average, analysts forecast that Visa Inc will post 5.4 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 15th. Visa’s dividend payout ratio is 21.69%.
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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