Obermeyer Wood Investment Counsel Lllp decreased its position in shares of Visa Inc (NYSE:V) by 7.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,632 shares of the credit-card processor’s stock after selling 125 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in Visa were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in V. Krane Funds Advisors LLC purchased a new stake in shares of Visa during the second quarter worth approximately $26,000. Lowe Wealth Advisors LLC increased its holdings in Visa by 114.7% during the 2nd quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 86 shares during the last quarter. Personal Wealth Partners purchased a new stake in Visa during the 2nd quarter worth approximately $30,000. Essex Investment Management Co. LLC purchased a new stake in Visa during the 4th quarter worth approximately $33,000. Finally, Mcmillion Capital Management Inc. purchased a new stake in Visa during the 2nd quarter worth approximately $38,000. 81.20% of the stock is currently owned by hedge funds and other institutional investors.
In other Visa news, insider Vasant M. Prabhu sold 25,051 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.14, for a total value of $4,537,738.14. Following the completion of the transaction, the insider now owns 62,223 shares in the company, valued at $11,271,074.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Denise M. Morrison acquired 1,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price of $171.13 per share, with a total value of $171,130.00. Following the transaction, the director now directly owns 3,223 shares of the company’s stock, valued at approximately $551,551.99. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by corporate insiders.
V has been the subject of several research reports. Jefferies Financial Group lifted their target price on Visa from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Bank of America lifted their target price on Visa from $177.00 to $192.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Credit Suisse Group boosted their price objective on Visa from $200.00 to $203.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Goldman Sachs Group restated a “buy” rating and set a $202.00 price objective on shares of Visa in a research report on Wednesday, July 24th. Finally, Wells Fargo & Co boosted their price objective on Visa from $181.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $196.57.
V stock traded up $3.00 during trading on Thursday, reaching $177.98. The company had a trading volume of 7,745,894 shares, compared to its average volume of 7,613,823. The firm has a 50-day simple moving average of $179.24 and a 200-day simple moving average of $167.08. The company has a market cap of $352.48 billion, a price-to-earnings ratio of 38.61, a price-to-earnings-growth ratio of 2.04 and a beta of 0.97. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.69 and a current ratio of 1.69. Visa Inc has a twelve month low of $121.60 and a twelve month high of $187.05.
Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.04. The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Visa had a net margin of 53.43% and a return on equity of 41.04%. Visa’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the business earned $1.20 EPS. Sell-side analysts expect that Visa Inc will post 5.4 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 15th. Visa’s dividend payout ratio (DPR) is 21.69%.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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