NWK Group Inc. increased its position in shares of Visa Inc. (NYSE:V – Free Report) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,841 shares of the credit-card processor’s stock after acquiring an additional 462 shares during the period. Visa makes up about 4.7% of NWK Group Inc.’s holdings, making the stock its 5th biggest position. NWK Group Inc.’s holdings in Visa were worth $8,037,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of V. Paulson Wealth Management Inc. grew its holdings in shares of Visa by 43.0% during the second quarter. Paulson Wealth Management Inc. now owns 3,398 shares of the credit-card processor’s stock worth $807,000 after purchasing an additional 1,022 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in Visa by 7.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 124,045 shares of the credit-card processor’s stock worth $29,458,000 after buying an additional 8,217 shares in the last quarter. Atomi Financial Group Inc. purchased a new position in Visa in the 1st quarter worth approximately $677,000. CCLA Investment Management increased its holdings in shares of Visa by 12.0% in the 2nd quarter. CCLA Investment Management now owns 565,685 shares of the credit-card processor’s stock worth $134,190,000 after buying an additional 60,585 shares during the last quarter. Finally, Blue Chip Partners LLC lifted its holdings in shares of Visa by 3.0% during the 2nd quarter. Blue Chip Partners LLC now owns 83,364 shares of the credit-card processor’s stock worth $19,797,000 after acquiring an additional 2,402 shares during the last quarter. 81.35% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
V has been the topic of a number of research reports. KeyCorp raised their price target on Visa from $265.00 to $275.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Mizuho raised their price objective on Visa from $240.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Truist Financial upped their target price on Visa from $270.00 to $275.00 in a research note on Wednesday, July 26th. Wells Fargo & Company lifted their price target on shares of Visa from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 26th. Finally, UBS Group started coverage on shares of Visa in a research note on Friday, October 20th. They issued a “buy” rating and a $295.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $275.67.
Visa Trading Down 0.7 %
V stock traded down $1.77 on Monday, reaching $247.79. The company’s stock had a trading volume of 1,705,894 shares, compared to its average volume of 6,001,814. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 1.45. The business has a fifty day simple moving average of $238.42 and a two-hundred day simple moving average of $236.26. The firm has a market cap of $461.35 billion, a PE ratio of 30.07, a PEG ratio of 1.66 and a beta of 0.95. Visa Inc. has a 12-month low of $202.13 and a 12-month high of $250.93.
Visa (NYSE:V – Get Free Report) last posted its earnings results on Tuesday, October 24th. The credit-card processor reported $2.33 EPS for the quarter, topping the consensus estimate of $2.23 by $0.10. Visa had a net margin of 52.90% and a return on equity of 50.13%. The firm had revenue of $8.61 billion during the quarter, compared to analysts’ expectations of $8.56 billion. During the same period last year, the company posted $1.93 EPS. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, research analysts forecast that Visa Inc. will post 9.9 EPS for the current year.
Visa Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Wednesday, November 8th. This is a boost from Visa’s previous quarterly dividend of $0.45. Visa’s dividend payout ratio (DPR) is presently 25.09%.
Insider Activity at Visa
In related news, CEO Ryan Mcinerney sold 8,150 shares of the business’s 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 document filed with the SEC, which is available at this hyperlink. In other news, insider Rajat Taneja sold 15,800 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was 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 in the company, valued at $58,030,321.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $247.47, for a total value of $2,016,880.50. The disclosure for this sale can be found here. Insiders have sold 72,100 shares of company stock worth $17,368,639 over the last ninety days. 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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