GM Advisory Group Inc. boosted its stake in shares of Visa Inc (NYSE:V) by 26.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,893 shares of the credit-card processor’s stock after acquiring an additional 1,218 shares during the period. GM Advisory Group Inc.’s holdings in Visa were worth $1,138,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Ridgewood Investments LLC purchased a new position in Visa during the second quarter valued at $239,000. Private Portfolio Partners LLC lifted its holdings in shares of Visa by 6.4% in the 1st quarter. Private Portfolio Partners LLC now owns 3,881 shares of the credit-card processor’s stock valued at $625,000 after acquiring an additional 233 shares during the last quarter. Cutter & CO Brokerage Inc. grew its position in Visa by 65.3% in the first quarter. Cutter & CO Brokerage Inc. now owns 6,392 shares of the credit-card processor’s stock worth $1,084,000 after acquiring an additional 2,525 shares in the last quarter. Whittier Trust Co. increased its stake in Visa by 5.0% during the second quarter. Whittier Trust Co. now owns 429,246 shares of the credit-card processor’s stock worth $82,917,000 after acquiring an additional 20,413 shares during the last quarter. Finally, Summit Trail Advisors LLC raised its position in Visa by 23.2% during the first quarter. Summit Trail Advisors LLC now owns 4,150 shares of the credit-card processor’s stock valued at $669,000 after purchasing an additional 782 shares during the period. 80.74% of the stock is owned by institutional investors.
A number of equities research analysts have issued reports on the company. Wedbush upped their price objective on Visa from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Morgan Stanley upped their price objective on Visa from $196.00 to $203.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Bank of America upped their price objective on Visa from $227.00 to $234.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. SunTrust Banks upped their price objective on Visa from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Finally, Wells Fargo & Co upped their price objective on Visa from $205.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Seven equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $212.28.
Visa (NYSE:V) last announced its earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.05. The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.85 billion. Visa had a return on equity of 40.65% and a net margin of 51.37%. The business’s revenue for the quarter was down 18.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.37 EPS. On average, research analysts predict that Visa Inc will post 5.01 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, August 13th. This represents a $1.20 annualized dividend and a yield of 0.57%. Visa’s dividend payout ratio (DPR) is presently 22.06%.
In other news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $191.49, for a total value of $1,340,430.00. Following the completion of the sale, the chief executive officer now owns 133,090 shares of the company’s stock, valued at approximately $25,485,404.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rajat Taneja sold 3,279 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $202.02, for a total value of $662,423.58. Following the completion of the sale, the insider now directly owns 221,282 shares of the company’s stock, valued at approximately $44,703,389.64. The disclosure for this sale can be found here. Insiders have sold a total of 121,401 shares of company stock worth $25,345,655 in the last ninety days. Insiders own 0.19% of the company’s stock.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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