Financial Counselors Inc. increased its holdings in Visa Inc. (NYSE:V) by 2.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,840 shares of the credit-card processor’s stock after buying an additional 3,883 shares during the quarter. Financial Counselors Inc.’s holdings in Visa were worth $13,208,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of V. Clearbridge Investments LLC grew its holdings in Visa by 41.4% in the 1st quarter. Clearbridge Investments LLC now owns 9,145,672 shares of the credit-card processor’s stock worth $812,776,000 after buying an additional 2,677,533 shares in the last quarter. Harbour Capital Advisors LLC grew its holdings in Visa by 10,570.6% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,598,668 shares of the credit-card processor’s stock worth $17,047,000 after buying an additional 1,583,686 shares in the last quarter. Swiss National Bank grew its holdings in Visa by 23.2% in the 1st quarter. Swiss National Bank now owns 7,360,428 shares of the credit-card processor’s stock worth $654,121,000 after buying an additional 1,388,200 shares in the last quarter. Akre Capital Management LLC boosted its stake in Visa by 35.0% during the 1st quarter. Akre Capital Management LLC now owns 4,889,020 shares of the credit-card processor’s stock valued at $434,487,000 after purchasing an additional 1,267,080 shares in the last quarter. Finally, Karp Capital Management Corp boosted its stake in Visa by 3,256.5% during the 1st quarter. Karp Capital Management Corp now owns 970,495 shares of the credit-card processor’s stock valued at $86,248,000 after purchasing an additional 941,581 shares in the last quarter. 81.73% of the stock is owned by institutional investors and hedge funds.
In other news, SVP James H. Hoffmeister sold 2,146 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $112.09, for a total value of $240,545.14. Following the transaction, the senior vice president now directly owns 687 shares of the company’s stock, valued at $77,005.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.
Visa (NYSE:V) last posted its quarterly earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.05. Visa had a net margin of 36.49% and a return on equity of 31.80%. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the prior year, the business posted $0.78 earnings per share. Visa’s revenue for the quarter was up 13.9% compared to the same quarter last year. analysts anticipate that Visa Inc. will post 4.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Friday, November 17th will be paid a $0.195 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This is an increase from Visa’s previous quarterly dividend of $0.17. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.70%. Visa’s dividend payout ratio is 27.86%.
A number of equities analysts have issued reports on V shares. Robert W. Baird reaffirmed a “buy” rating on shares of Visa in a research note on Thursday, August 24th. KeyCorp reaffirmed a “buy” rating and set a $110.00 price target on shares of Visa in a research note on Friday, August 25th. Vetr raised Visa from a “hold” rating to a “buy” rating and set a $108.51 price target for the company in a research note on Tuesday, September 26th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $124.00 price target on shares of Visa in a research note on Friday, September 22nd. Finally, Zacks Investment Research raised Visa from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a research note on Tuesday, September 19th. Three equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $116.08.
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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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