Fort L.P. Invests $120,000 in Visa Inc (V)

Fort L.P. bought a new position in shares of Visa Inc (NYSE:V) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 906 shares of the credit-card processor’s stock, valued at approximately $120,000.

Other hedge funds have also made changes to their positions in the company. Lee Financial Group Hawaii Inc. lifted its stake in shares of Visa by 1.6% during the second quarter. Lee Financial Group Hawaii Inc. now owns 24,147 shares of the credit-card processor’s stock valued at $3,198,000 after acquiring an additional 388 shares during the period. Stifel Financial Corp lifted its stake in shares of Visa by 2.6% during the first quarter. Stifel Financial Corp now owns 1,866,738 shares of the credit-card processor’s stock valued at $223,368,000 after acquiring an additional 47,939 shares during the period. Wealthstreet Investment Advisors LLC lifted its stake in shares of Visa by 2.1% during the second quarter. Wealthstreet Investment Advisors LLC now owns 145,294 shares of the credit-card processor’s stock valued at $19,244,000 after acquiring an additional 2,930 shares during the period. Pioneer Trust Bank N A OR lifted its stake in shares of Visa by 9.1% during the second quarter. Pioneer Trust Bank N A OR now owns 30,150 shares of the credit-card processor’s stock valued at $3,994,000 after acquiring an additional 2,521 shares during the period. Finally, Domani Wealth LLC acquired a new position in shares of Visa during the second quarter valued at $272,000. Institutional investors own 80.41% of the company’s stock.

NYSE V opened at $139.78 on Friday. The stock has a market cap of $284.35 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 1.52 and a beta of 1.11. The company has a current ratio of 1.61, a quick ratio of 1.69 and a debt-to-equity ratio of 0.58. Visa Inc has a one year low of $106.60 and a one year high of $151.56.

Visa (NYSE:V) last released its quarterly earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.01. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.44 billion. Visa had a return on equity of 38.00% and a net margin of 49.98%. Research analysts anticipate that Visa Inc will post 5.32 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Friday, November 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.72%. This is a positive change from Visa’s previous quarterly dividend of $0.21. Visa’s dividend payout ratio (DPR) is currently 18.22%.

Several brokerages have recently issued reports on V. Cantor Fitzgerald upped their price target on Visa to $160.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. Loop Capital upped their price target on Visa to $157.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. They noted that the move was a valuation call. BMO Capital Markets upped their price target on Visa from $187.00 to $196.00 and gave the company an “outperform” rating in a research note on Thursday, October 25th. Wells Fargo & Co upped their price target on Visa from $143.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, July 12th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $166.00 price target on shares of Visa in a research note on Thursday, October 25th. Two equities research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $155.47.

In other news, SVP James H. Hoffmeister sold 6,912 shares of the firm’s stock in a transaction dated 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 owns 6,912 shares of the company’s stock, valued at $967,749.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Vasant M. Prabhu sold 25,064 shares of the firm’s 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 sale, 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. Company insiders own 0.14% of the company’s stock.

Visa Company 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.

Further Reading: Earnings Reports

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Institutional Ownership by Quarter for Visa (NYSE:V)

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