Bell Bank boosted its stake in Visa Inc. (NYSE:V - Free Report) by 8.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,663 shares of the credit-card processor's stock after acquiring an additional 1,193 shares during the period. Bell Bank's holdings in Visa were worth $5,561,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in V. Lakeridge Wealth Management LLC increased its position in Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after purchasing an additional 81 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Visa by 14.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock worth $159,523,000 after purchasing an additional 57,800 shares during the period. Iron Gate Global Advisors LLC grew its holdings in shares of Visa by 5.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock worth $22,040,000 after acquiring an additional 3,484 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock worth $5,003,569,000 after acquiring an additional 955,392 shares during the period. Finally, Yeomans Consulting Group Inc. grew its holdings in shares of Visa by 2.9% in the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after acquiring an additional 29 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.
Insider Buying and Selling at Visa
In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.
Visa Stock Performance
V stock traded down $4.64 during midday trading on Tuesday, reaching $339.72. The company had a trading volume of 2,683,816 shares, compared to its average volume of 6,448,981. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average price of $345.58 and a 200 day moving average price of $346.37. Visa Inc. has a fifty-two week low of $268.23 and a fifty-two week high of $375.51. The firm has a market capitalization of $622.64 billion, a PE ratio of 33.17, a P/E/G ratio of 2.27 and a beta of 0.92.
Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.42 earnings per share. Analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's payout ratio is presently 23.05%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on V shares. Raymond James Financial restated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. The Goldman Sachs Group started coverage on Visa in a report on Monday, June 2nd. They issued a "neutral" rating on the stock. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday, July 17th. They issued a "buy" rating and a $410.00 price target on the stock. Finally, UBS Group restated a "buy" rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Visa currently has a consensus rating of "Moderate Buy" and a consensus target price of $385.96.
Check Out Our Latest Research Report on Visa
About Visa
(
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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