Visa Inc. (V) Shares Bought by Gradient Investments LLC
Gradient Investments LLC increased its stake in shares of Visa Inc. (NYSE:V) by 3.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,112 shares of the credit-card processor’s stock after buying an additional 251 shares during the period. Gradient Investments LLC’s holdings in Visa were worth $667,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Viking Fund Management LLC boosted its position in shares of Visa by 27.3% in the second quarter. Viking Fund Management LLC now owns 14,000 shares of the credit-card processor’s stock valued at $1,313,000 after buying an additional 3,000 shares during the period. Cypress Capital Management LLC WY boosted its position in shares of Visa by 2.5% in the second quarter. Cypress Capital Management LLC WY now owns 2,415 shares of the credit-card processor’s stock valued at $229,000 after buying an additional 60 shares during the period. Reilly Financial Advisors LLC boosted its position in shares of Visa by 2.4% in the second quarter. Reilly Financial Advisors LLC now owns 19,454 shares of the credit-card processor’s stock valued at $1,824,000 after buying an additional 462 shares during the period. Anderson Hoagland & Co. boosted its position in shares of Visa by 1.1% in the second quarter. Anderson Hoagland & Co. now owns 60,015 shares of the credit-card processor’s stock valued at $5,628,000 after buying an additional 655 shares during the period. Finally, Highland Capital Management LLC boosted its position in shares of Visa by 21.4% in the second quarter. Highland Capital Management LLC now owns 77,967 shares of the credit-card processor’s stock valued at $7,312,000 after buying an additional 13,737 shares during the period. Institutional investors and hedge funds own 82.46% of the company’s stock.
Shares of Visa Inc. (NYSE:V) traded up 0.6381% during trading on Friday, hitting $100.1248. The stock had a trading volume of 2,560,417 shares. The company’s 50 day moving average price is $97.57 and its 200 day moving average price is $91.96. The stock has a market cap of $228.93 billion, a price-to-earnings ratio of 37.2350 and a beta of 0.94. Visa Inc. has a 12 month low of $75.17 and a 12 month high of $101.72.
Visa (NYSE:V) last released its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the prior year, the business posted $0.69 EPS. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. Equities research analysts expect that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
Visa declared that its board has approved a share repurchase plan on Thursday, April 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the credit-card processor to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.66%. Visa’s payout ratio is currently 24.54%.
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Several brokerages have recently weighed in on V. BidaskClub upgraded shares of Visa from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Zacks Investment Research cut shares of Visa from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Citigroup Inc. reissued a “buy” rating and issued a $115.00 target price (up from $100.00) on shares of Visa in a report on Monday, July 24th. Bank of America Corporation increased their target price on shares of Visa from $103.00 to $111.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Finally, Barclays PLC reissued an “overweight” rating and issued a $114.00 target price (up from $111.00) on shares of Visa in a report on Saturday, July 22nd. Four analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company. Visa has an average rating of “Buy” and a consensus target price of $104.56.
In other news, EVP Tullier Kelly Mahon sold 29,772 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $100.91, for a total value of $3,004,292.52. Following the transaction, the executive vice president now owns 17,360 shares in the company, valued at approximately $1,751,797.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.
Visa Company Profile
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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