Northwestern Mutual Wealth Management Co. lifted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 5.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 611,908 shares of the credit-card processor's stock after purchasing an additional 32,645 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Visa were worth $209,939,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Cresta Advisors Ltd. purchased a new stake in shares of Visa in the fourth quarter valued at about $26,000. Parvin Asset Management LLC raised its holdings in Visa by 200.0% during the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor's stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Philadelphia Investment Partners LLC acquired a new stake in Visa in the second quarter valued at about $29,000. Virtus Advisers LLC purchased a new stake in Visa in the 2nd quarter valued at approximately $33,000. Finally, RHL Group LLC purchased a new stake in Visa in the 4th quarter valued at approximately $34,000. 82.15% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on V shares. Susquehanna reiterated a "positive" rating and set a $427.00 target price (up from $410.00) on shares of Visa in a research report on Wednesday, July 29th. Royal Bank Of Canada restated an "outperform" rating and issued a $466.00 price target (up from $412.00) on shares of Visa in a research note on Monday. Raymond James Financial reaffirmed an "outperform" rating and set a $406.00 price objective on shares of Visa in a report on Wednesday, July 29th. Citigroup reiterated a "buy" rating and issued a $440.00 price objective (up from $400.00) on shares of Visa in a research report on Wednesday, July 29th. Finally, Weiss Ratings raised Visa from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, July 30th. Seven equities research analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $416.62.
Read Our Latest Analysis on Visa
Visa Stock Down 0.6%
Visa stock opened at $379.17 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $676.60 billion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 2.04 and a beta of 0.74. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $385.57. The stock's fifty day moving average is $360.10 and its two-hundred day moving average is $331.83.
Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.09. Visa had a return on equity of 67.68% and a net margin of 50.78%.The business had revenue of $11.63 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter in the previous year, the company posted $2.98 EPS. The business's revenue was up 14.4% on a year-over-year basis. Analysts predict that Visa Inc. will post 13.16 EPS for the current fiscal year.
Visa Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th will be given a dividend of $0.67 per share. The ex-dividend date is Tuesday, August 11th. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. Visa's payout ratio is presently 22.79%.
Insiders Place Their Bets
In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total value of $729,720.00. Following the sale, the general counsel directly owned 18,404 shares in the company, valued at $6,625,440. This represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 20,970 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $340.25, for a total transaction of $7,135,042.50. Following the transaction, the chief executive officer directly owned 15,174 shares of the company's stock, valued at approximately $5,162,953.50. This trade represents a 58.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 96,634 shares of company stock worth $34,537,016. Insiders own 0.12% of the company's stock.
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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