Capital Group Private Client Services Inc. increased its stake in Visa Inc. (NYSE:V – Free Report) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 869,002 shares of the credit-card processor’s stock after acquiring an additional 19,640 shares during the period. Visa makes up approximately 2.4% of Capital Group Private Client Services Inc.’s investment portfolio, making the stock its 6th biggest position. Capital Group Private Client Services Inc.’s holdings in Visa were worth $206,371,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in V. Graham Capital Wealth Management LLC acquired a new stake in Visa during the first quarter valued at approximately $299,862,000. Financial Freedom LLC purchased a new stake in shares of Visa in the 4th quarter valued at approximately $32,000. Kalos Management Inc. purchased a new stake in shares of Visa in the 1st quarter valued at approximately $40,000. Moisand Fitzgerald Tamayo LLC lifted its position in shares of Visa by 666.7% in the 1st quarter. Moisand Fitzgerald Tamayo LLC now owns 230 shares of the credit-card processor’s stock valued at $52,000 after acquiring an additional 200 shares in the last quarter. Finally, Northwest Bank & Trust Co purchased a new stake in shares of Visa in the 2nd quarter valued at approximately $64,000. 81.35% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on V. StockNews.com began coverage on shares of Visa in a research report on Thursday, October 5th. They issued a “buy” rating for the company. UBS Group initiated coverage on shares of Visa in a research note on Friday, October 20th. They set a “buy” rating and a $295.00 price target on the stock. Credit Suisse Group increased their price target on shares of Visa from $265.00 to $275.00 in a research note on Wednesday, July 26th. HSBC initiated coverage on shares of Visa in a research note on Friday, October 13th. They set a “hold” rating and a $266.00 price target on the stock. Finally, Robert W. Baird restated an “outperform” rating and set a $284.00 price target on shares of Visa in a research note on Thursday, September 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $275.67.
View Our Latest Research Report on Visa
Visa Price Performance
V traded up $1.81 during midday trading on Wednesday, hitting $254.04. The company had a trading volume of 2,170,280 shares, compared to its average volume of 6,022,437. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market capitalization of $472.98 billion, a PE ratio of 30.70, a P/E/G ratio of 1.66 and a beta of 0.95. Visa Inc. has a twelve month low of $202.13 and a twelve month high of $254.54. The firm’s 50-day simple moving average is $238.58 and its 200-day simple moving average is $236.57.
Visa (NYSE:V – Get Free Report) last issued its quarterly earnings results on Tuesday, October 24th. The credit-card processor reported $2.33 EPS for the quarter, topping the consensus estimate of $2.23 by $0.10. Visa had a net margin of 52.90% and a return on equity of 50.13%. The company had revenue of $8.61 billion during the quarter, compared to analysts’ expectations of $8.56 billion. During the same quarter in the previous year, the company earned $1.93 EPS. Visa’s revenue was up 10.6% on a year-over-year basis. Equities research analysts predict that Visa Inc. will post 9.9 EPS for the current fiscal year.
Visa Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 9th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.82%. This is a positive change from Visa’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, November 8th. Visa’s dividend payout ratio (DPR) is presently 25.09%.
Insider Buying and Selling
In other news, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $247.47, for a total transaction of $2,016,880.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $247.47, for a total transaction of $2,016,880.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Rajat Taneja sold 9,200 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $250.01, for a total transaction of $2,300,092.00. Following the transaction, the insider now owns 232,112 shares in the company, valued at $58,030,321.12. The disclosure for this sale can be found here. Insiders have sold a total of 81,300 shares of company stock worth $19,668,731 over the last ninety days. Company insiders own 0.21% of the company’s stock.
About Visa
Visa Inc operates as a payments technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, click to pay; Visa Direct, a person-to-person digital payments apps; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solutions, a cross-border consumer payments business; and Visa DPS that provides a range of value added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.
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