NewFocus Financial Group LLC acquired a new stake in Visa Inc (NYSE:V) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,465 shares of the credit-card processor’s stock, valued at approximately $254,000.
Several other large investors also recently modified their holdings of V. Lowe Wealth Advisors LLC increased its stake in Visa by 114.7% during the second quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 86 shares during the last quarter. Hexavest Inc. purchased a new position in Visa in the second quarter valued at about $40,000. Essex Investment Management Co. LLC purchased a new position in Visa in the fourth quarter valued at about $33,000. Sound Income Strategies LLC boosted its holdings in Visa by 141.6% in the second quarter. Sound Income Strategies LLC now owns 331 shares of the credit-card processor’s stock valued at $57,000 after purchasing an additional 194 shares during the last quarter. Finally, Weaver Consulting Group purchased a new position in Visa in the first quarter valued at about $67,000. Institutional investors and hedge funds own 81.15% of the company’s stock.
Shares of Visa stock traded down $6.89 during trading on Monday, reaching $170.53. The company’s stock had a trading volume of 5,110,767 shares, compared to its average volume of 5,986,302. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.62 and a current ratio of 1.69. The stock has a fifty day moving average price of $176.79. The company has a market cap of $354.14 billion, a price-to-earnings ratio of 36.99, a price-to-earnings-growth ratio of 1.98 and a beta of 0.96. Visa Inc has a one year low of $121.60 and a one year high of $184.07.
Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.04. Visa had a return on equity of 41.04% and a net margin of 53.43%. The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the company posted $1.20 earnings per share. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities research analysts anticipate that Visa Inc will post 5.4 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 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 0.59%. The ex-dividend date of this dividend is Thursday, August 15th. Visa’s payout ratio is 21.69%.
In other Visa news, Director Lloyd Carney sold 3,500 shares of Visa stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $182.73, for a total transaction of $639,555.00. Following the sale, the director now directly owns 3,452 shares of the company’s stock, valued at $630,783.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is currently owned by insiders.
Several analysts recently issued reports on the company. Cantor Fitzgerald reissued a “buy” rating and issued a $181.00 price target on shares of Visa in a report on Sunday, April 28th. KeyCorp raised their price target on Visa from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Piper Jaffray Companies set a $207.00 price target on Visa and gave the stock a “buy” rating in a report on Wednesday, July 24th. Wedbush reissued an “outperform” rating on shares of Visa in a report on Wednesday, July 3rd. Finally, Robert W. Baird set a $196.00 price target on Visa and gave the stock a “buy” rating in a report on Friday, July 19th. Two analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $195.46.
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.
Recommended Story: Outstanding Shares
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.