First Merchants Corp boosted its holdings in Visa Inc (NYSE:V) by 3.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,003 shares of the credit-card processor’s stock after purchasing an additional 1,750 shares during the quarter. Visa makes up 1.3% of First Merchants Corp’s portfolio, making the stock its 16th biggest holding. First Merchants Corp’s holdings in Visa were worth $7,285,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Stifel Financial Corp increased its stake in Visa by 2.6% during the first quarter. Stifel Financial Corp now owns 1,866,738 shares of the credit-card processor’s stock worth $223,368,000 after acquiring an additional 47,939 shares during the last quarter. Robecosam AG increased its stake in Visa by 17.8% during the fourth quarter. Robecosam AG now owns 9,562 shares of the credit-card processor’s stock worth $1,093,000 after acquiring an additional 1,445 shares during the last quarter. 6 Meridian acquired a new stake in Visa during the first quarter worth about $6,393,000. First American Trust FSB acquired a new stake in Visa during the second quarter worth about $5,855,000. Finally, Wendell David Associates Inc. acquired a new stake in Visa during the second quarter worth about $1,773,000. Hedge funds and other institutional investors own 80.23% of the company’s stock.
V has been the subject of several research analyst reports. UBS Group initiated coverage on Visa in a research note on Friday, May 18th. They set a “neutral” rating and a $141.00 price target for the company. Wedbush upped their price target on Visa from $135.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 6th. Buckingham Research upped their price target 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 upped their price target on Visa from $143.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, July 12th. Finally, Oppenheimer upped their price target on Visa from $143.00 to $154.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 17th. Three investment 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 target price of $149.35.
In related news, CFO Vasant M. Prabhu sold 25,064 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 58,232 shares of the company’s stock, valued at $8,185,089.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James H. Hoffmeister sold 6,912 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly 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 owned by corporate insiders.
Shares of NYSE V opened at $143.20 on Friday. Visa Inc has a 1-year low of $102.75 and a 1-year high of $147.86. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $290.23 billion, a PE ratio of 41.15, a P/E/G ratio of 1.77 and a beta of 1.09.
Visa (NYSE:V) last issued its earnings results on Wednesday, July 25th. The credit-card processor reported $1.20 earnings per share for the quarter, topping the Thomson Reuters’ 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 the consensus estimate of $5.09 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. The company’s revenue was up 14.8% compared to the same quarter last year. research analysts anticipate that Visa Inc will post 4.61 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Friday, August 17th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Thursday, August 16th. Visa’s payout ratio is 24.14%.
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.
See Also: Short Selling Stocks, A Beginner’s Guide
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.