Citizens Financial Group Inc RI lowered its position in Visa Inc. (NYSE:V) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,370 shares of the credit-card processor’s stock after selling 4,686 shares during the quarter. Visa accounts for approximately 1.5% of Citizens Financial Group Inc RI’s holdings, making the stock its 10th biggest holding. Citizens Financial Group Inc RI’s holdings in Visa were worth $17,196,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of V. Seven Eight Capital LP raised its stake in shares of Visa by 497.7% in the 2nd quarter. Seven Eight Capital LP now owns 40,832 shares of the credit-card processor’s stock valued at $3,829,000 after purchasing an additional 34,000 shares in the last quarter. Peregrine Asset Advisers Inc. acquired a new stake in shares of Visa in the 2nd quarter valued at about $4,368,000. Capital Wealth Planning LLC acquired a new stake in shares of Visa in the 2nd quarter valued at about $25,820,000. South State Corp raised its stake in shares of Visa by 5.5% in the 2nd quarter. South State Corp now owns 63,835 shares of the credit-card processor’s stock valued at $5,986,000 after purchasing an additional 3,328 shares in the last quarter. Finally, Matthew Goff Investment Advisor LLC raised its stake in shares of Visa by 12.2% in the 2nd quarter. Matthew Goff Investment Advisor LLC now owns 45,344 shares of the credit-card processor’s stock valued at $4,252,000 after purchasing an additional 4,926 shares in the last quarter. Hedge funds and other institutional investors own 81.91% of the company’s stock.
A number of equities research analysts recently weighed in on V shares. Cantor Fitzgerald reaffirmed a “buy” rating and set a $120.00 price objective on shares of Visa in a research report on Wednesday, October 25th. Zacks Investment Research downgraded shares of Visa from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Jefferies Group boosted their price objective on shares of Visa from $125.00 to $127.00 and gave the company a “buy” rating in a research report on Monday, October 30th. UBS reaffirmed an “overweight” rating on shares of Visa in a research report on Thursday, August 24th. Finally, Wells Fargo & Company raised shares of Visa from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $107.01 to $120.00 in a research report on Tuesday, October 10th. Two research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $117.08.
Visa Inc. (V) traded up $1.40 during midday trading on Thursday, reaching $111.14. 3,434,750 shares of the company’s stock traded hands, compared to its average volume of 7,661,438. Visa Inc. has a 1 year low of $77.19 and a 1 year high of $113.62. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.61. The company has a market cap of $224,938.80, a PE ratio of 31.20, a price-to-earnings-growth ratio of 1.59 and a beta of 0.97.
Visa (NYSE:V) last posted its earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 EPS for the quarter, topping the 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 firm had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.63 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. Visa’s quarterly revenue was up 13.9% on a year-over-year basis. equities research analysts anticipate that Visa Inc. will post 4.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Friday, November 17th were given a $0.195 dividend. This is a boost from Visa’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $0.78 annualized dividend and a yield of 0.70%. Visa’s dividend payout ratio is 27.86%.
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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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