King Luther Capital Management Corp increased its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 948,766 shares of the credit-card processor’s stock after purchasing an additional 10,969 shares during the period. Visa makes up about 1.1% of King Luther Capital Management Corp’s holdings, making the stock its 29th biggest position. King Luther Capital Management Corp owned 0.05% of Visa worth $225,313,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the business. Paulson Wealth Management Inc. grew its stake in Visa by 43.0% in the second quarter. Paulson Wealth Management Inc. now owns 3,398 shares of the credit-card processor’s stock valued at $807,000 after acquiring an additional 1,022 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of Visa by 7.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 124,045 shares of the credit-card processor’s stock valued at $29,458,000 after buying an additional 8,217 shares during the last quarter. Atomi Financial Group Inc. purchased a new position in shares of Visa during the first quarter valued at approximately $677,000. CCLA Investment Management boosted its position in shares of Visa by 12.0% during the second quarter. CCLA Investment Management now owns 565,685 shares of the credit-card processor’s stock valued at $134,190,000 after buying an additional 60,585 shares during the last quarter. Finally, Blue Chip Partners LLC boosted its position in shares of Visa by 3.0% during the second quarter. Blue Chip Partners LLC now owns 83,364 shares of the credit-card processor’s stock valued at $19,797,000 after buying an additional 2,402 shares during the last quarter. Institutional investors and hedge funds own 81.35% of the company’s stock.
Wall Street Analysts Forecast Growth
V has been the subject of a number of recent analyst reports. Citigroup upped their price objective on Visa from $273.00 to $275.00 in a research note on Wednesday, July 26th. Mizuho raised their price target on shares of Visa from $240.00 to $243.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. JPMorgan Chase & Co. decreased their target price on Visa from $296.00 to $293.00 and set an “overweight” rating for the company in a research report on Monday, October 9th. UBS Group assumed coverage on Visa in a research report on Friday, October 20th. They issued a “buy” rating and a $295.00 target price for the company. Finally, StockNews.com assumed coverage on Visa in a research report on Thursday, October 5th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $275.67.
Visa Trading Down 0.1 %
NYSE:V traded down $0.13 during mid-day trading on Monday, reaching $249.43. 1,076,942 shares of the company’s stock traded hands, compared to its average volume of 6,000,617. Visa Inc. has a 12-month low of $202.13 and a 12-month high of $250.93. The firm has a market capitalization of $464.40 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 1.66 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.45 and a quick ratio of 1.49. The company has a 50 day moving average price of $238.42 and a 200-day moving average price of $236.26.
Visa (NYSE:V – Get Free Report) last posted its quarterly earnings data on Tuesday, October 24th. The credit-card processor reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.10. Visa had a return on equity of 50.13% and a net margin of 52.90%. The business had revenue of $8.61 billion for the quarter, compared to analysts’ expectations of $8.56 billion. During the same period in the previous year, the firm posted $1.93 EPS. The business’s revenue was up 10.6% on a year-over-year basis. On average, sell-side analysts predict that Visa Inc. will post 9.9 earnings per share for the current year.
Visa Increases Dividend
The firm 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 $0.52 dividend. The ex-dividend date is Wednesday, November 8th. This is a boost from Visa’s previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a yield of 0.83%. Visa’s dividend payout ratio is 25.09%.
Insider Activity at Visa
In other Visa news, insider Rajat Taneja sold 15,800 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $250.01, for a total transaction of $3,950,158.00. Following the completion of the sale, the insider now directly owns 232,112 shares in the company, valued at approximately $58,030,321.12. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $247.47, for a total transaction of $2,016,880.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rajat Taneja sold 15,800 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $250.01, for a total transaction of $3,950,158.00. Following the completion of the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $58,030,321.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,100 shares of company stock valued at $17,368,639. 0.22% of the stock is owned by corporate insiders.
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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