Washington Trust Bank boosted its stake in shares of Visa Inc. (NYSE:V) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,895 shares of the credit-card processor’s stock after buying an additional 32 shares during the period. Washington Trust Bank’s holdings in Visa were worth $365,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the stock. Vicus Capital increased its stake in Visa by 17.4% in the first quarter. Vicus Capital now owns 4,719 shares of the credit-card processor’s stock valued at $419,000 after buying an additional 701 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in Visa by 0.7% in the first quarter. Integrated Investment Consultants LLC now owns 2,961 shares of the credit-card processor’s stock valued at $263,000 after buying an additional 20 shares during the last quarter. First Financial Bank N.A. Trust Division increased its stake in Visa by 3.8% in the first quarter. First Financial Bank N.A. Trust Division now owns 80,112 shares of the credit-card processor’s stock valued at $7,120,000 after buying an additional 2,941 shares during the last quarter. Park National Corp OH increased its stake in Visa by 18.7% in the first quarter. Park National Corp OH now owns 4,592 shares of the credit-card processor’s stock valued at $408,000 after buying an additional 722 shares during the last quarter. Finally, Toth Financial Advisory Corp increased its stake in Visa by 15.3% in the first quarter. Toth Financial Advisory Corp now owns 27,243 shares of the credit-card processor’s stock valued at $2,421,000 after buying an additional 3,608 shares during the last quarter. Institutional investors and hedge funds own 82.29% of the company’s stock.
Visa Inc. (NYSE V) traded up 0.827% during midday trading on Friday, hitting $103.005. The stock had a trading volume of 2,949,840 shares. Visa Inc. has a 12-month low of $75.17 and a 12-month high of $103.93. The firm has a market cap of $235.51 billion, a P/E ratio of 38.306 and a beta of 0.94. The stock has a 50-day moving average price of $98.55 and a 200 day moving average price of $92.63. Visa also was the recipient of unusually large options trading on Wednesday. Stock investors purchased 12,583 put options on the stock. This represents an increase of 163% compared to the typical volume of 4,785 put options.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the previous year, the firm posted $0.69 EPS. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. On average, equities analysts anticipate that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.66 annualized dividend and a dividend yield of 0.65%. Visa’s dividend payout ratio is currently 24.54%.
Visa declared that its Board of Directors has authorized a stock buyback plan on Thursday, April 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the credit-card processor to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
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Several research firms have weighed in on V. BidaskClub upgraded Visa from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 10th. Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Citigroup Inc. reiterated a “buy” rating and set a $115.00 price target (up previously from $100.00) on shares of Visa in a research note on Monday, July 24th. Bank of America Corporation boosted their price target on Visa from $103.00 to $111.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Finally, Barclays PLC reiterated an “overweight” rating and set a $114.00 price target (up previously from $111.00) on shares of Visa in a research note on Saturday, July 22nd. Four research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the stock. Visa presently has an average rating of “Buy” and an average target price of $104.56.
In related news, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the completion of the transaction, the executive vice president now directly owns 17,360 shares in the company, valued at approximately $1,751,797.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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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