Measured Wealth Private Client Group LLC bought a new position in shares of Visa Inc (NYSE:V) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 2,625 shares of the credit-card processor’s stock, valued at approximately $347,000.
A number of other large investors have also recently made changes to their positions in the stock. Fort L.P. bought a new position in shares of Visa in the second quarter valued at $120,000. Cascade Investment Advisors Inc. bought a new position in shares of Visa in the second quarter valued at $132,000. Signature Estate & Investment Advisors LLC increased its holdings in shares of Visa by 36.8% in the second quarter. Signature Estate & Investment Advisors LLC now owns 1,357 shares of the credit-card processor’s stock valued at $180,000 after buying an additional 365 shares in the last quarter. Quad Cities Investment Group LLC bought a new position in shares of Visa in the second quarter valued at $186,000. Finally, Landaas & Co. WI ADV bought a new position in shares of Visa in the second quarter valued at $189,000. 80.38% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have issued reports on the stock. Cantor Fitzgerald boosted their target price on shares of Visa to $160.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. Loop Capital boosted their target price on shares of 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. Wells Fargo & Co boosted their target price on shares of Visa from $143.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, July 12th. BMO Capital Markets boosted their target price on shares of Visa from $187.00 to $196.00 and gave the company an “outperform” rating in a research note on Thursday, October 25th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $166.00 target price on shares of Visa in a research note on Thursday, October 25th. Two research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $155.47.
In related news, CFO Vasant M. Prabhu sold 25,064 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were 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 directly owns 58,232 shares in the company, valued at $8,185,089.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William M. Sheedy sold 99,636 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $139.28, for a total transaction of $13,877,302.08. Following the completion of the sale, the executive vice president now owns 296,925 shares of the company’s stock, valued at $41,355,714. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
Visa stock opened at $139.80 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.69 and a current ratio of 1.61. Visa Inc has a 12 month low of $106.60 and a 12 month high of $151.56. The firm has a market cap of $284.35 billion, a PE ratio of 30.33, a P/E/G ratio of 1.52 and a beta of 1.11.
Visa (NYSE:V) last posted its quarterly earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. Visa had a net margin of 49.98% and a return on equity of 38.00%. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.44 billion. As a group, equities analysts expect that Visa Inc will post 5.32 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Friday, November 16th will be issued a dividend of $0.25 per share. This is a boost from Visa’s previous quarterly dividend of $0.21. This represents a $1.00 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Thursday, November 15th. Visa’s payout ratio is currently 18.22%.
COPYRIGHT VIOLATION NOTICE: “Measured Wealth Private Client Group LLC Buys New Holdings in Visa Inc (V)” was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece can be read at https://www.dispatchtribunal.com/2018/11/06/measured-wealth-private-client-group-llc-buys-new-holdings-in-visa-inc-v.html.
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.
Read More: Benefits of owning preferred stock
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc (NYSE:V).
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.