Pinnacle Advisory Group Inc. purchased a new stake in Visa Inc (NYSE:V) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,758 shares of the credit-card processor’s stock, valued at approximately $302,000.
A number of other institutional investors also recently modified their holdings of V. Krane Funds Advisors LLC acquired a new stake in shares of Visa in the second quarter valued at approximately $26,000. Lowe Wealth Advisors LLC raised its stake in Visa by 114.7% during the second quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 86 shares in the last quarter. Personal Wealth Partners acquired a new position in Visa during the second quarter worth about $30,000. Mcmillion Capital Management Inc. acquired a new position in Visa during the second quarter worth about $38,000. Finally, Hexavest Inc. acquired a new position in shares of Visa in the second quarter valued at approximately $40,000. 80.98% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE V traded up $0.54 during trading on Friday, reaching $178.97. 3,777,681 shares of the company traded hands, compared to its average volume of 7,614,820. Visa Inc has a 12-month low of $121.60 and a 12-month high of $187.05. The firm’s fifty day simple moving average is $176.22 and its 200 day simple moving average is $173.43. The company has a current ratio of 1.56, a quick ratio of 1.69 and a debt-to-equity ratio of 0.57. The stock has a market cap of $349.90 billion, a P/E ratio of 32.90, a PEG ratio of 1.83 and a beta of 0.94.
Visa (NYSE:V) last posted its quarterly earnings data on Thursday, October 24th. The credit-card processor reported $1.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.04. Visa had a return on equity of 42.57% and a net margin of 52.57%. The company had revenue of $6.14 billion during the quarter, compared to analyst estimates of $6.08 billion. During the same period in the previous year, the business earned $1.21 EPS. Visa’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, research analysts expect that Visa Inc will post 6.21 EPS for the current year.
The company also recently declared a dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 14th. Visa’s dividend payout ratio (DPR) is 18.38%.
In other news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $177.79, for a total transaction of $1,244,530.00. Following the sale, the chief executive officer now owns 55,446 shares of the company’s stock, valued at $9,857,744.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vasant M. Prabhu sold 25,051 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.14, for a total value of $4,537,738.14. Following the completion of the transaction, the insider now directly owns 62,223 shares in the company, valued at approximately $11,271,074.22. The disclosure for this sale can be found here. Insiders have sold 53,215 shares of company stock worth $9,564,487 over the last 90 days. 0.17% of the stock is owned by insiders.
Several research firms have recently issued reports on V. Barclays upped their price objective on Visa from $181.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Piper Jaffray Companies set a $207.00 target price on Visa and gave the company a “buy” rating in a report on Wednesday, July 24th. Credit Suisse Group increased their target price on Visa from $200.00 to $203.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Nomura raised their target price on Visa from $178.00 to $204.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, ValuEngine downgraded Visa from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. Three investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Visa presently has an average rating of “Buy” and an average price target of $199.04.
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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