Klingenstein Fields & Co. LLC purchased a new stake in Visa Inc. (NYSE:V) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,665 shares of the credit-card processor’s stock, valued at approximately $420,000.
Several other hedge funds also recently made changes to their positions in V. Iowa State Bank acquired a new stake in shares of Visa during the second quarter valued at $111,000. West Oak Capital LLC increased its stake in shares of Visa by 245.5% in the second quarter. West Oak Capital LLC now owns 1,534 shares of the credit-card processor’s stock valued at $114,000 after buying an additional 1,090 shares during the last quarter. WealthTrust Arizona LLC increased its stake in shares of Visa by 0.9% in the second quarter. WealthTrust Arizona LLC now owns 2,393 shares of the credit-card processor’s stock valued at $177,000 after buying an additional 21 shares during the last quarter. Invictus RG increased its stake in shares of Visa by 144.2% in the first quarter. Invictus RG now owns 2,454 shares of the credit-card processor’s stock valued at $188,000 after buying an additional 1,449 shares during the last quarter. Finally, Arcadia Investment Management Corp MI increased its stake in shares of Visa by 67.3% in the second quarter. Arcadia Investment Management Corp MI now owns 2,700 shares of the credit-card processor’s stock valued at $200,000 after buying an additional 1,086 shares during the last quarter. 80.06% of the stock is currently owned by institutional investors and hedge funds.
Visa Inc. (NYSE:V) traded up 0.37% during trading on Friday, reaching $82.22. The company’s stock had a trading volume of 10,919,564 shares. Visa Inc. has a 12 month low of $66.12 and a 12 month high of $83.79. The company has a market cap of $192.63 billion, a P/E ratio of 32.15 and a beta of 0.95. The stock’s 50-day moving average is $82.41 and its 200 day moving average is $79.72.
Visa (NYSE:V) last issued its quarterly earnings results on Monday, October 24th. The credit-card processor reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The company had revenue of $4.26 billion for the quarter. Visa had a net margin of 39.72% and a return on equity of 24.31%. Visa’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 EPS. On average, equities analysts forecast that Visa Inc. will post $3.29 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Friday, November 18th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Wednesday, November 16th. This is a positive change from Visa’s previous quarterly dividend of $0.14. Visa’s payout ratio is 22.67%.
Several equities analysts have recently issued reports on the company. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $90.00 price target on shares of Visa in a research report on Thursday. RBC Capital Markets reiterated an “outperform” rating and set a $89.00 price target (up from $87.00) on shares of Visa in a research report on Wednesday. Royal Bank Of Canada lifted their price target on Visa from $87.00 to $89.00 and gave the company an “outperform” rating in a research report on Tuesday. Stifel Nicolaus lowered their price target on Visa from $94.00 to $93.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Guggenheim cut Visa from a “buy” rating to a “neutral” rating and lifted their price target for the company from $90.00 to $97.00 in a research report on Tuesday. Six analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $90.82.
Visa Company Profile
Visa Inc is a payments technology company. The Company is engaged in operating a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions across the world. The Company provides its services to consumers, businesses, financial institutions and governments in more than 200 countries and territories for electronic payments.