Foothills Asset Management Ltd. Acquires New Position in Visa Inc (V)

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Foothills Asset Management Ltd. acquired a new stake in shares of Visa Inc (NYSE:V) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 22,178 shares of the credit-card processor’s stock, valued at approximately $2,937,000. Visa comprises about 2.2% of Foothills Asset Management Ltd.’s portfolio, making the stock its 12th biggest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Covenant Asset Management LLC boosted its stake in Visa by 77.6% during the 2nd quarter. Covenant Asset Management LLC now owns 27,093 shares of the credit-card processor’s stock valued at $3,588,000 after acquiring an additional 11,836 shares during the last quarter. RDL Financial Inc. boosted its stake in Visa by 2.1% during the 2nd quarter. RDL Financial Inc. now owns 32,817 shares of the credit-card processor’s stock valued at $4,347,000 after acquiring an additional 687 shares during the last quarter. Triangle Securities Wealth Management bought a new position in Visa during the 2nd quarter valued at $2,848,000. Chesley Taft & Associates LLC bought a new position in Visa during the 2nd quarter valued at $19,411,000. Finally, Comprehensive Portfolio Management LLC boosted its stake in Visa by 3.9% during the 2nd quarter. Comprehensive Portfolio Management LLC now owns 10,948 shares of the credit-card processor’s stock valued at $1,450,000 after acquiring an additional 410 shares during the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

A number of brokerages have weighed in on V. Morgan Stanley raised shares of Visa to an “overweight” rating in a report on Monday, July 23rd. Wells Fargo & Co increased their target price on shares of Visa from $143.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, July 12th. Argus increased their target price on shares of Visa from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, April 27th. Cantor Fitzgerald increased their target price on shares of Visa to $160.00 and gave the stock an “overweight” rating in a report on Thursday, July 26th. Finally, Oppenheimer increased their target price on shares of Visa from $143.00 to $154.00 and gave the stock an “outperform” rating in a report on Tuesday, July 17th. Three investment analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. Visa currently has an average rating of “Buy” and a consensus price target of $147.87.

V stock opened at $141.33 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.69 and a current ratio of 1.69. Visa Inc has a fifty-two week low of $101.94 and a fifty-two week high of $143.14. The stock has a market capitalization of $284.25 billion, a P/E ratio of 40.61, a PEG ratio of 1.78 and a beta of 1.06.

Visa (NYSE:V) last released its quarterly earnings data on Wednesday, July 25th. The credit-card processor reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.11. Visa had a net margin of 47.91% and a return on equity of 36.09%. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter last year, the company earned $0.86 EPS. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. research analysts forecast that Visa Inc will post 4.56 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Investors of record on Friday, August 17th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.59%. Visa’s dividend payout ratio (DPR) is presently 24.14%.

In other Visa news, SVP James H. Hoffmeister sold 6,912 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $140.01, for a total transaction of $967,749.12. Following the transaction, the senior vice president now owns 6,912 shares of the company’s stock, valued at approximately $967,749.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Vasant M. Prabhu sold 25,064 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $140.56, for a total transaction of $3,522,995.84. Following the transaction, the chief financial officer now directly owns 58,232 shares in the company, valued at approximately $8,185,089.92. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

Visa 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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Institutional Ownership by Quarter for Visa (NYSE:V)

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