Horizon Investment Services LLC grew its position in Visa Inc. (NYSE:V - Free Report) by 7.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,038 shares of the credit-card processor's stock after acquiring an additional 1,197 shares during the quarter. Visa comprises about 2.9% of Horizon Investment Services LLC's portfolio, making the stock its 7th largest position. Horizon Investment Services LLC's holdings in Visa were worth $5,971,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in V. Edgemoor Investment Advisors Inc. increased its holdings in Visa by 2.2% in the 1st quarter. Edgemoor Investment Advisors Inc. now owns 61,882 shares of the credit-card processor's stock worth $21,687,000 after acquiring an additional 1,315 shares in the last quarter. Verus Financial Partners Inc. acquired a new position in Visa in the first quarter valued at about $212,000. Gallacher Capital Management LLC lifted its position in shares of Visa by 95.8% during the first quarter. Gallacher Capital Management LLC now owns 2,181 shares of the credit-card processor's stock worth $764,000 after purchasing an additional 1,067 shares in the last quarter. Peterson Wealth Services raised its holdings in Visa by 1.2% in the first quarter. Peterson Wealth Services now owns 22,119 shares of the credit-card processor's stock valued at $7,752,000 after acquiring an additional 252 shares in the last quarter. Finally, William Allan Corp increased its stake in Visa by 0.6% in the first quarter. William Allan Corp now owns 15,961 shares of the credit-card processor's stock valued at $5,594,000 after purchasing an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.
Insider Buying and Selling
In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,108 shares of company stock valued at $36,771,200. Corporate insiders own 0.13% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on V. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Macquarie lowered their price target on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Barclays reaffirmed an "overweight" rating on shares of Visa in a report on Friday, June 13th. The Goldman Sachs Group started coverage on Visa in a research note on Monday, June 2nd. They issued a "neutral" rating on the stock. Finally, Oppenheimer lifted their target price on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $375.52.
Check Out Our Latest Report on V
Visa Trading Up 0.5%
Shares of Visa stock traded up $1.85 on Monday, reaching $350.90. 5,215,544 shares of the company's stock were exchanged, compared to its average volume of 6,789,211. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The firm's 50-day moving average is $356.82 and its two-hundred day moving average is $344.02. The company has a market capitalization of $647.46 billion, a P/E ratio of 32.81, a price-to-earnings-growth ratio of 2.36 and a beta of 0.92.
Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm's revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.51 EPS. Sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio is presently 23.72%.
Visa Profile
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Free Report)
Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.
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