Cohen & Steers Inc. grew its stake in Visa Inc (NYSE:V) by 22.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,187 shares of the credit-card processor’s stock after buying an additional 10,172 shares during the period. Cohen & Steers Inc.’s holdings in Visa were worth $9,751,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. Asset Dedication LLC boosted its position in Visa by 4.2% during the 2nd quarter. Asset Dedication LLC now owns 16,109 shares of the credit-card processor’s stock valued at $2,799,000 after buying an additional 647 shares during the period. Alera Investment Advisors LLC boosted its position in Visa by 5.7% during the 2nd quarter. Alera Investment Advisors LLC now owns 1,599 shares of the credit-card processor’s stock valued at $278,000 after buying an additional 86 shares during the period. Laurel Wealth Advisors Inc. boosted its position in Visa by 12.0% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 7,181 shares of the credit-card processor’s stock valued at $1,122,000 after buying an additional 767 shares during the period. Doliver Advisors LP boosted its position in Visa by 16.8% during the 2nd quarter. Doliver Advisors LP now owns 14,848 shares of the credit-card processor’s stock valued at $2,577,000 after buying an additional 2,134 shares during the period. Finally, Investec Asset Management LTD boosted its position in Visa by 6.6% during the 2nd quarter. Investec Asset Management LTD now owns 4,900,087 shares of the credit-card processor’s stock valued at $850,410,000 after buying an additional 305,148 shares during the period. 80.99% of the stock is owned by institutional investors and hedge funds.
NYSE V traded down $0.95 during trading on Wednesday, hitting $175.50. The company had a trading volume of 777,099 shares, compared to its average volume of 6,006,125. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.57. Visa Inc has a one year low of $121.60 and a one year high of $187.05. The company has a market cap of $351.69 billion, a price-to-earnings ratio of 38.07, a price-to-earnings-growth ratio of 1.99 and a beta of 0.97. The company’s fifty day moving average is $178.64 and its 200-day moving average is $167.84.
Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $1.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.04. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.70 billion. Visa had a net margin of 53.43% and a return on equity of 41.04%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.20 EPS. As a group, equities analysts anticipate that Visa Inc will post 5.4 EPS 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 paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.57%. Visa’s payout ratio is 21.69%.
Several equities research analysts have weighed in on V shares. Goldman Sachs Group reissued a “buy” rating and set a $202.00 price target on shares of Visa in a research report on Wednesday, July 24th. UBS Group increased their price target on shares of Visa from $183.00 to $187.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Deutsche Bank increased their price target on shares of Visa from $177.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Credit Suisse Group increased their price target on shares of Visa from $200.00 to $203.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Raymond James increased their price target on shares of Visa from $177.00 to $193.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $196.57.
In other Visa news, Director Denise M. Morrison purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was bought at an average cost of $171.13 per share, for a total transaction of $171,130.00. Following the purchase, the director now directly owns 3,223 shares in the company, valued at $551,551.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lloyd Carney sold 3,500 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $182.73, for a total transaction of $639,555.00. Following the completion of the transaction, the director now owns 3,452 shares of the company’s stock, valued at $630,783.96. The disclosure for this sale can be found here. 0.17% of the stock is owned by company insiders.
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.
Further Reading: What is Cost of Goods Sold (COGS)?
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