First Long Island Investors LLC continued to hold its position in Visa Inc. (NYSE:V) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 192,546 shares of the credit-card processor’s stock at the end of the second quarter. Visa makes up 2.8% of First Long Island Investors LLC’s investment portfolio, making the stock its 5th largest position. First Long Island Investors LLC’s holdings in Visa were worth $14,726,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Iowa State Bank purchased a new position in Visa during the second quarter worth approximately $111,000. West Oak Capital LLC boosted its position in Visa by 245.5% in the second quarter. West Oak Capital LLC now owns 1,534 shares of the credit-card processor’s stock worth $114,000 after buying an additional 1,090 shares during the last quarter. Feltz Wealth PLAN Inc. purchased a new position in Visa during the second quarter worth approximately $148,000. WealthTrust Arizona LLC boosted its position in Visa by 0.9% in the second quarter. WealthTrust Arizona LLC now owns 2,393 shares of the credit-card processor’s stock worth $177,000 after buying an additional 21 shares during the last quarter. Finally, Invictus RG boosted its position in Visa by 144.2% in the first quarter. Invictus RG now owns 2,454 shares of the credit-card processor’s stock worth $188,000 after buying an additional 1,449 shares during the last quarter. Institutional investors and hedge funds own 80.08% of the company’s stock.
Visa Inc. (NYSE:V) traded down 0.79% on Monday, hitting $81.89. The stock had a trading volume of 3,117,680 shares. The firm’s 50 day moving average price is $81.35 and its 200-day moving average price is $78.33. The stock has a market cap of $193.26 billion, a PE ratio of 34.80 and a beta of 0.91. Visa Inc. has a 12 month low of $66.12 and a 12 month high of $83.79.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, July 21st. The credit-card processor reported $0.69 EPS for the quarter, beating the consensus estimate of $0.66 by $0.03. Visa had a return on equity of 22.36% and a net margin of 38.72%. The firm earned $3.63 billion during the quarter, compared to analyst estimates of $3.67 billion. On average, analysts forecast that Visa Inc. will post $2.79 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Friday, August 19th were issued a dividend of $0.14 per share. The ex-dividend date was Wednesday, August 17th. This represents a $0.56 annualized dividend and a dividend yield of 0.68%. Visa’s dividend payout ratio is presently 24.35%.
V has been the subject of a number of research analyst reports. Deutsche Bank AG restated a “buy” rating and issued a $87.00 target price on shares of Visa in a research note on Tuesday, September 6th. Barclays PLC raised their target price on Visa from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, September 12th. Pacific Crest set a $92.00 target price on Visa and gave the company a “buy” rating in a research note on Wednesday, September 14th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Visa in a research note on Tuesday, May 31st. Finally, Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research note on Tuesday, July 19th. Four equities research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. Visa currently has a consensus rating of “Buy” and a consensus price target of $88.54.
Visa Inc is a payments technology company. The Company is engaged in operating a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions across the world. The Company provides its services to consumers, businesses, financial institutions and governments in more than 200 countries and territories for electronic payments.
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