Mercer Global Advisors Inc. ADV raised its position in shares of Visa Inc. (NYSE:V – Free Report) by 12.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 289,992 shares of the credit-card processor’s stock after purchasing an additional 31,254 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Visa were worth $76,114,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in V. Livelsberger Financial Advisory bought a new position in shares of Visa during the 4th quarter valued at $25,000. Westend Capital Management LLC bought a new stake in shares of Visa in the 1st quarter valued at about $25,000. POM Investment Strategies LLC increased its stake in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the period. Frank Rimerman Advisors LLC bought a new stake in Visa during the 4th quarter valued at $33,000. Finally, TruNorth Capital Management LLC raised its holdings in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on V. Jefferies Financial Group decreased their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price objective on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Bank of America boosted their price objective on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Macquarie restated an “outperform” rating and issued a $300.00 target price on shares of Visa in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $310.22.
Visa Price Performance
Shares of V opened at $291.61 on Wednesday. The firm has a fifty day simple moving average of $269.30 and a two-hundred day simple moving average of $273.27. The firm has a market cap of $533.34 billion, a PE ratio of 32.58, a P/E/G ratio of 2.01 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $293.07.
Visa (NYSE:V – Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.16 earnings per share. On average, equities analysts anticipate that Visa Inc. will post 9.92 EPS for the current year.
Visa Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.71%. Visa’s dividend payout ratio (DPR) is 23.24%.
Insider Buying and Selling at Visa
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.19% of the stock is owned by corporate insiders.
Visa Company Profile
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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