Verition Fund Management LLC raised its position in shares of Visa Inc (NYSE:V) by 42.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,372 shares of the credit-card processor’s stock after purchasing an additional 5,743 shares during the quarter. Verition Fund Management LLC’s holdings in Visa were worth $2,566,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Fort L.P. purchased a new position in shares of Visa during the 2nd quarter valued at $120,000. Cascade Investment Advisors Inc. purchased a new position in shares of Visa during the 2nd quarter valued at $132,000. Bridgeworth LLC purchased a new position in shares of Visa during the 2nd quarter valued at $143,000. Ruggie Capital Group purchased a new position in shares of Visa during the 2nd quarter valued at $164,000. Finally, Signature Estate & Investment Advisors LLC grew its holdings in shares of Visa by 36.8% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 1,357 shares of the credit-card processor’s stock valued at $180,000 after acquiring an additional 365 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.
V has been the topic of several research analyst reports. Morgan Stanley upgraded shares of Visa to an “overweight” rating in a report on Monday, July 23rd. Zacks Investment Research upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $168.00 price objective for the company in a report on Tuesday, September 25th. Goldman Sachs Group cut shares of Visa from a “conviction-buy” rating to a “buy” rating and set a $160.00 price objective for the company. in a report on Monday, September 17th. BMO Capital Markets upped their price objective on shares of Visa from $187.00 to $196.00 and gave the stock an “outperform” rating in a report on Thursday, October 25th. Finally, Bank of America reiterated a “buy” rating and issued a $163.00 price objective on shares of Visa in a report on Monday, September 17th. Two equities research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $155.47.
V stock opened at $139.72 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.61 and a quick ratio of 1.69. Visa Inc has a 52-week low of $106.60 and a 52-week high of $151.56. The stock has a market cap of $292.79 billion, a price-to-earnings ratio of 30.31, a PEG ratio of 1.56 and a beta of 1.11.
Visa (NYSE:V) last released its quarterly earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.44 billion. As a group, equities analysts anticipate that Visa Inc will post 5.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Friday, November 16th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.72%. This is a boost from Visa’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, November 15th. Visa’s dividend payout ratio is 18.22%.
In other Visa news, EVP William M. Sheedy sold 99,636 shares of the company’s stock in a transaction dated Friday, November 2nd. The shares were 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 directly owns 296,925 shares in the company, valued at $41,355,714. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is owned by corporate insiders.
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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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