BB&T Securities LLC grew its position in Visa Inc. (NYSE:V) by 22.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,807 shares of the credit-card processor’s stock after purchasing an additional 44,072 shares during the period. BB&T Securities LLC’s holdings in Visa were worth $22,394,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Capital Investment Advisory Services LLC raised its holdings in shares of Visa by 0.4% in the second quarter. Capital Investment Advisory Services LLC now owns 4,747 shares of the credit-card processor’s stock valued at $445,000 after purchasing an additional 20 shares during the last quarter. Baker Ellis Asset Management LLC increased its holdings in Visa by 0.3% during the second quarter. Baker Ellis Asset Management LLC now owns 6,262 shares of the credit-card processor’s stock worth $587,000 after buying an additional 20 shares during the last quarter. Smithfield Trust Co. increased its holdings in Visa by 0.3% during the first quarter. Smithfield Trust Co. now owns 9,047 shares of the credit-card processor’s stock worth $804,000 after buying an additional 25 shares during the last quarter. Harwood Advisory Group LLC increased its holdings in Visa by 0.9% during the second quarter. Harwood Advisory Group LLC now owns 2,765 shares of the credit-card processor’s stock worth $259,000 after buying an additional 25 shares during the last quarter. Finally, Sky Investment Group LLC increased its holdings in Visa by 0.9% during the second quarter. Sky Investment Group LLC now owns 2,685 shares of the credit-card processor’s stock worth $252,000 after buying an additional 25 shares during the last quarter. Institutional investors own 81.75% of the company’s stock.
In other news, Director Mary B. Cranston sold 10,400 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total transaction of $1,074,528.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is currently owned by corporate insiders.
V has been the subject of a number of research analyst reports. Deutsche Bank AG raised their price objective on shares of Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 10th. Cantor Fitzgerald restated a “buy” rating and set a $120.00 price objective on shares of Visa in a report on Wednesday, October 25th. UBS AG restated an “overweight” rating on shares of Visa in a report on Thursday, August 24th. BidaskClub upgraded shares of Visa from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Finally, Wells Fargo & Company upgraded shares of Visa from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $107.01 to $120.00 in a report on Tuesday, October 10th. Four research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $116.01.
Visa (NYSE:V) last posted its earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.05. The firm had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.63 billion. Visa had a return on equity of 31.80% and a net margin of 36.49%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 EPS.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Friday, November 17th will be given a dividend of $0.195 per share. 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 0.71%. The ex-dividend date of this dividend is Thursday, November 16th. Visa’s dividend payout ratio is currently 23.57%.
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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