New Jersey Better Educational Savings Trust Has $1,125,000 Stake in Visa Inc. (V)

New Jersey Better Educational Savings Trust held its position in shares of Visa Inc. (NYSE:V) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,000 shares of the credit-card processor’s stock at the close of the second quarter. Visa comprises about 1.0% of New Jersey Better Educational Savings Trust’s investment portfolio, making the stock its 17th largest holding. New Jersey Better Educational Savings Trust’s holdings in Visa were worth $1,125,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Capital Investment Advisory Services LLC raised its stake in Visa by 0.4% during the second quarter. Capital Investment Advisory Services LLC now owns 4,747 shares of the credit-card processor’s stock worth $445,000 after buying an additional 20 shares during the last quarter. Baker Ellis Asset Management LLC raised its stake in Visa by 0.3% during the second quarter. Baker Ellis Asset Management LLC now owns 6,262 shares of the credit-card processor’s stock worth $587,000 after buying an additional 20 shares during the last quarter. Mercer Capital Advisers Inc. raised its stake in Visa by 2.2% during the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after buying an additional 25 shares during the last quarter. Smithfield Trust Co. raised its stake in Visa by 0.3% during the first quarter. Smithfield Trust Co. now owns 9,047 shares of the credit-card processor’s stock worth $804,000 after buying an additional 25 shares during the last quarter. Finally, Harwood Advisory Group LLC raised its stake in Visa by 0.9% during the second quarter. Harwood Advisory Group LLC now owns 2,765 shares of the credit-card processor’s stock worth $259,000 after buying an additional 25 shares during the last quarter. 81.65% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Tullier Kelly Mahon sold 29,772 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total value of $3,004,292.52. Following the transaction, the executive vice president now owns 17,360 shares of the company’s stock, valued at $1,751,797.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary B. Cranston sold 10,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total transaction of $1,074,528.00. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

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Visa Inc. (V) opened at 107.55 on Friday. The firm has a 50-day moving average of $105.76 and a 200-day moving average of $98.25. Visa Inc. has a 1-year low of $75.17 and a 1-year high of $109.26. The stock has a market capitalization of $245.91 billion, a PE ratio of 40.00 and a beta of 0.93.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.36 billion. Visa had a net margin of 36.53% and a return on equity of 30.95%. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 EPS. Equities analysts expect that Visa Inc. will post $3.43 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Friday, November 17th will be issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Thursday, November 16th. This is an increase from Visa’s previous quarterly dividend of $0.17. Visa’s dividend payout ratio (DPR) is presently 24.54%.

V has been the subject of a number of analyst reports. Cowen and Company reissued an “outperform” rating and set a $105.00 target price on shares of Visa in a research note on Friday, June 23rd. Jefferies Group LLC reissued a “buy” rating and set a $104.00 target price on shares of Visa in a research note on Sunday, June 25th. Mizuho initiated coverage on shares of Visa in a research note on Tuesday, June 27th. They set a “buy” rating and a $115.00 target price for the company. Vetr raised shares of Visa from a “hold” rating to a “buy” rating and set a $100.12 target price for the company in a research note on Tuesday, June 27th. Finally, BidaskClub downgraded shares of Visa from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Two investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $111.86.

Visa Company Profile

Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.

Institutional Ownership by Quarter for Visa (NYSE:V)

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