Charles Schwab Investment Management Inc. raised its position in Visa Inc. (NYSE:V – Free Report) by 0.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 10,393,233 shares of the credit-card processor’s stock after buying an additional 9,868 shares during the period. Visa comprises approximately 0.7% of Charles Schwab Investment Management Inc.’s holdings, making the stock its 28th largest holding. Charles Schwab Investment Management Inc. owned about 0.56% of Visa worth $2,453,259,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in V. Graham Capital Wealth Management LLC acquired a new position in shares of Visa in the 1st quarter valued at $299,862,000. Financial Freedom LLC bought a new position in Visa during the fourth quarter worth about $32,000. Kalos Management Inc. acquired a new position in shares of Visa during the 1st quarter worth about $40,000. NewSquare Capital LLC increased its stake in shares of Visa by 121.9% in the 1st quarter. NewSquare Capital LLC now owns 213 shares of the credit-card processor’s stock valued at $48,000 after acquiring an additional 117 shares during the last quarter. Finally, Moisand Fitzgerald Tamayo LLC raised its position in shares of Visa by 666.7% in the 1st quarter. Moisand Fitzgerald Tamayo LLC now owns 230 shares of the credit-card processor’s stock valued at $52,000 after acquiring an additional 200 shares during the period. 81.35% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $247.47, for a total value of $2,016,880.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction on Friday, September 1st. The shares were sold at an average price of $247.47, for a total transaction of $2,016,880.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Rajat Taneja sold 15,800 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $250.01, for a total value of $3,950,158.00. Following the completion of the sale, the insider now owns 232,112 shares of the company’s stock, valued at $58,030,321.12. The disclosure for this sale can be found here. Insiders have sold 72,100 shares of company stock worth $17,368,639 in the last 90 days. Insiders own 0.21% of the company’s stock.
Visa Price Performance
Visa (NYSE:V – Get Free Report) last issued its earnings results on Tuesday, October 24th. The credit-card processor reported $2.33 EPS for the quarter, beating the consensus estimate of $2.23 by $0.10. The company had revenue of $8.61 billion during the quarter, compared to analysts’ expectations of $8.56 billion. Visa had a net margin of 52.90% and a return on equity of 50.13%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.93 EPS. Analysts forecast that Visa Inc. will post 9.9 EPS for the current year.
Visa Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 9th will be given a dividend of $0.52 per share. The ex-dividend date is Wednesday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 0.84%. This is a positive change from Visa’s previous quarterly dividend of $0.45. Visa’s payout ratio is currently 25.09%.
Wall Street Analysts Forecast Growth
Several analysts recently commented on V shares. KeyCorp raised their price objective on Visa from $265.00 to $275.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. JPMorgan Chase & Co. decreased their price objective on Visa from $296.00 to $293.00 and set an “overweight” rating for the company in a research report on Monday, October 9th. Royal Bank of Canada raised their target price on shares of Visa from $265.00 to $290.00 in a report on Wednesday, July 26th. Robert W. Baird reiterated an “outperform” rating and issued a $284.00 price target on shares of Visa in a report on Thursday, September 14th. Finally, Susquehanna raised their price objective on shares of Visa from $266.00 to $300.00 in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $275.67.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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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