Greenwich Wealth Management LLC purchased a new stake in Visa Inc (NYSE:V) during the second quarter, Holdings Channel reports. The firm purchased 1,563 shares of the credit-card processor’s stock, valued at approximately $207,000.
Other large investors have also recently added to or reduced their stakes in the company. HC Financial Advisors Inc. purchased a new position in shares of Visa during the 4th quarter valued at about $2,805,000. Sphera Funds Management LTD. lifted its position in shares of Visa by 14.1% during the 4th quarter. Sphera Funds Management LTD. now owns 60,401 shares of the credit-card processor’s stock valued at $6,887,000 after buying an additional 7,450 shares in the last quarter. Global Endowment Management LP lifted its position in shares of Visa by 7.1% during the 4th quarter. Global Endowment Management LP now owns 83,930 shares of the credit-card processor’s stock valued at $9,569,000 after buying an additional 5,600 shares in the last quarter. RiverGlades Family Offices LLC purchased a new position in shares of Visa during the 4th quarter valued at about $295,000. Finally, Financial Counselors Inc. lifted its position in shares of Visa by 0.6% during the 4th quarter. Financial Counselors Inc. now owns 136,527 shares of the credit-card processor’s stock valued at $15,567,000 after buying an additional 786 shares in the last quarter. Hedge funds and other institutional investors own 80.23% of the company’s stock.
A number of research analysts have recently weighed in on the company. Loop Capital lifted their price objective on Visa to $157.00 and gave the company a “buy” rating in a research report on Thursday, July 26th. They noted that the move was a valuation call. Cantor Fitzgerald lifted their price objective on Visa to $160.00 and gave the company an “overweight” rating in a research report on Thursday, July 26th. Buckingham Research lifted their price objective on Visa from $152.00 to $169.00 and gave the company a “buy” rating in a research report on Tuesday, June 26th. Wells Fargo & Co boosted their price target on Visa from $143.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, July 12th. Finally, UBS Group assumed coverage on Visa in a report on Friday, May 18th. They issued a “neutral” rating and a $141.00 price target on the stock. Three analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $149.35.
Shares of V opened at $144.50 on Friday. The company has a market cap of $298.81 billion, a PE ratio of 41.52, a PEG ratio of 1.82 and a beta of 1.09. Visa Inc has a 1 year low of $102.75 and a 1 year high of $147.86. 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 (NYSE:V) last issued its quarterly earnings data on Wednesday, July 25th. The credit-card processor reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.11. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Visa had a return on equity of 36.09% and a net margin of 47.91%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS. equities analysts forecast that Visa Inc will post 4.59 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Friday, August 17th were issued a dividend of $0.21 per share. The ex-dividend date was Thursday, August 16th. This represents a $0.84 annualized dividend and a dividend yield of 0.58%. Visa’s dividend payout ratio (DPR) is 24.14%.
In other news, SVP James H. Hoffmeister sold 6,912 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $140.01, for a total transaction of $967,749.12. Following the sale, the senior vice president now directly owns 6,912 shares of the company’s stock, valued at approximately $967,749.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vasant M. Prabhu sold 25,064 shares of the company’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 sale, the chief financial officer now directly owns 58,232 shares in the company, valued at $8,185,089.92. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.
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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