TRUE Private Wealth Advisors raised its position in Visa Inc (NYSE:V) by 62.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,950 shares of the credit-card processor’s stock after acquiring an additional 4,608 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Visa were worth $1,582,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. Earnest Partners LLC acquired a new position in shares of Visa during the fourth quarter worth about $100,000. AlphaOne Investment Services LLC acquired a new position in shares of Visa during the fourth quarter worth about $108,000. Financial Gravity Companies Inc. acquired a new position in shares of Visa during the fourth quarter worth about $112,000. First Dallas Securities Inc. acquired a new position in shares of Visa during the fourth quarter worth about $125,000. Finally, Slow Capital Inc. acquired a new position in shares of Visa during the fourth quarter worth about $132,000. 80.53% of the stock is owned by institutional investors.
In other Visa news, CFO Vasant M. Prabhu sold 25,064 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $140.56, for a total value of $3,522,995.84. Following the completion of the sale, the chief financial officer now owns 58,232 shares in the company, valued at $8,185,089.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP James H. Hoffmeister sold 6,912 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $140.01, for a total value of $967,749.12. Following the completion of the sale, the senior vice president now owns 6,912 shares of the company’s stock, valued at approximately $967,749.12. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.
Shares of NYSE V opened at $140.94 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.69 and a quick ratio of 1.69. Visa Inc has a twelve month low of $102.26 and a twelve month high of $143.14. The company has a market capitalization of $287.50 billion, a price-to-earnings ratio of 40.50, a PEG ratio of 1.77 and a beta of 1.06.
Visa (NYSE:V) last issued its quarterly earnings data on Wednesday, July 25th. The credit-card processor reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.11. Visa had a return on equity of 36.09% and a net margin of 47.91%. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. sell-side analysts anticipate that Visa Inc will post 4.55 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Friday, August 17th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Thursday, August 16th. Visa’s dividend payout ratio is currently 24.14%.
A number of equities analysts have recently commented on the company. Cantor Fitzgerald boosted their price objective on Visa to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, July 26th. Loop Capital boosted their target price on Visa to $157.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. They noted that the move was a valuation call. Buckingham Research boosted their target price on Visa from $152.00 to $169.00 and gave the stock a “buy” rating in a research note on Tuesday, June 26th. Wells Fargo & Co boosted their target price on Visa from $143.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, July 12th. Finally, Bank of America boosted their target price on Visa from $155.00 to $163.00 and gave the stock a “buy” rating in a research note on Monday, August 13th. Three equities research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company’s stock. Visa presently has a consensus rating of “Buy” and a consensus price target of $147.87.
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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