Advisors Capital Management LLC increased its stake in shares of Visa Inc. (NYSE:V - Free Report) by 4.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,078 shares of the credit-card processor's stock after purchasing an additional 3,728 shares during the quarter. Advisors Capital Management LLC's holdings in Visa were worth $28,160,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its holdings in shares of Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after purchasing an additional 6,883 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after buying an additional 4,817 shares during the period. Nicholas Hoffman & Company LLC. lifted its holdings in shares of Visa by 4.6% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor's stock valued at $3,834,000 after buying an additional 477 shares during the period. Matrix Asset Advisors Inc. NY boosted its stake in shares of Visa by 16.9% in the second quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor's stock worth $402,000 after buying an additional 164 shares during the last quarter. Finally, Schnieders Capital Management LLC. boosted its stake in shares of Visa by 13.8% in the second quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor's stock worth $6,521,000 after buying an additional 2,230 shares during the last quarter. Institutional investors own 82.15% of the company's stock.
Insider Activity at Visa
In related news, insider Tullier Kelly Mahon sold 57,272 shares of Visa stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $364.97, for a total value of $20,902,561.84. Following the sale, the insider directly owned 49,662 shares in the company, valued at approximately $18,125,140.14. The trade was a 53.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following the sale, the general counsel owned 18,404 shares of the company's stock, valued at approximately $6,625,440. This trade represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 90,759 shares of company stock valued at $32,375,779. 0.12% of the stock is owned by corporate insiders.
Visa Price Performance
Shares of Visa stock opened at $366.31 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.60. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $373.97. The business has a 50-day moving average price of $352.75 and a 200 day moving average price of $329.35. The firm has a market cap of $653.65 billion, a PE ratio of 31.15, a P/E/G ratio of 1.96 and a beta of 0.74.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.23 by $0.09. Visa had a return on equity of 67.68% and a net margin of 50.78%.The company had revenue of $11.63 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter in the prior year, the business posted $2.98 earnings per share. Visa's revenue for the quarter was up 14.4% on a year-over-year basis. Sell-side analysts predict that Visa Inc. will post 13.16 earnings per share for the current fiscal year.
Visa declared that its board has approved a stock buyback plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.
Visa Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. Visa's dividend payout ratio (DPR) is currently 22.79%.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on V. Wolfe Research reiterated an "outperform" rating and set a $435.00 price target (up from $430.00) on shares of Visa in a research report on Wednesday, July 29th. UBS Group restated a "buy" rating and issued a $420.00 price objective (up from $410.00) on shares of Visa in a research report on Wednesday, July 29th. Clear Str raised shares of Visa to a "strong-buy" rating in a research note on Thursday, July 16th. Evercore set a $350.00 target price on shares of Visa in a report on Wednesday, April 29th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $416.00 target price on shares of Visa in a research note on Wednesday, July 29th. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $413.58.
Check Out Our Latest Report on V
About Visa
(
Free Report)
Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.
Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.
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