Dohj LLC lowered its position in shares of Visa Inc. (NYSE:V) by 9.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,309 shares of the credit-card processor’s stock after selling 1,101 shares during the quarter. Visa makes up about 1.3% of Dohj LLC’s investment portfolio, making the stock its 21st largest position. Dohj LLC’s holdings in Visa were worth $2,411,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Financial Architects Inc grew its stake in Visa by 6.9% in the second quarter. Financial Architects Inc now owns 11,869 shares of the credit-card processor’s stock valued at $2,775,000 after acquiring an additional 763 shares during the period. Inverness Counsel LLC NY raised its stake in Visa by 15.9% in the second quarter. Inverness Counsel LLC NY now owns 247,437 shares of the credit-card processor’s stock valued at $57,856,000 after buying an additional 33,855 shares during the period. CapWealth Advisors LLC increased its stake in shares of Visa by 4.4% during the second quarter. CapWealth Advisors LLC now owns 1,067 shares of the credit-card processor’s stock worth $249,000 after purchasing an additional 45 shares during the period. Wealthquest Corp increased its stake in shares of Visa by 11.8% during the second quarter. Wealthquest Corp now owns 1,853 shares of the credit-card processor’s stock worth $433,000 after purchasing an additional 195 shares during the period. Finally, National Asset Management Inc. grew its position in Visa by 1.6% during the second quarter. National Asset Management Inc. now owns 77,571 shares of the credit-card processor’s stock worth $18,105,000 after buying an additional 1,218 shares in the last quarter. Institutional investors own 81.04% of the company’s stock.
In related news, President Ryan Mcinerney sold 11,193 shares of the stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $246.29, for a total transaction of $2,756,723.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, July 30th. The stock was sold at an average price of $247.21, for a total value of $2,224,890.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,813 shares of company stock valued at $20,342,613. Corporate insiders own 0.19% of the company’s stock.
Visa (NYSE:V) last issued its earnings results on Tuesday, July 27th. The credit-card processor reported $1.49 EPS for the quarter, topping the consensus estimate of $1.33 by $0.16. Visa had a net margin of 47.97% and a return on equity of 35.45%. The company had revenue of $6.13 billion for the quarter, compared to analyst estimates of $5.86 billion. During the same period in the previous year, the firm earned $1.07 EPS. The business’s revenue was up 26.7% on a year-over-year basis. On average, analysts predict that Visa Inc. will post 5.82 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Friday, August 13th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Thursday, August 12th. Visa’s dividend payout ratio is currently 25.40%.
A number of brokerages have weighed in on V. Susquehanna raised their target price on Visa from $265.00 to $290.00 and gave the company a “positive” rating in a report on Wednesday, July 28th. Truist Securities lifted their price objective on Visa from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Compass Point raised their target price on Visa from $265.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. Wedbush lifted their price target on Visa from $250.00 to $270.00 and gave the company an “outperform” rating in a research note on Wednesday, July 28th. Finally, Credit Suisse Group lifted their price target on Visa from $280.00 to $285.00 and gave the company an “outperform” rating in a research note on Tuesday, June 8th. One analyst has rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, Visa has a consensus rating of “Buy” and an average target price of $271.52.
Visa Company Profile
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.
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