Steel Grove Capital Advisors LLC lessened its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 24.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,482 shares of the credit-card processor’s stock after selling 807 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Visa were worth $651,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of V. J. Stern & Co. LLP grew its holdings in shares of Visa by 39.5% during the 2nd quarter. J. Stern & Co. LLP now owns 10,847 shares of the credit-card processor’s stock worth $2,847,000 after acquiring an additional 3,070 shares during the period. Certified Advisory Corp boosted its position in shares of Visa by 5.3% in the 2nd quarter. Certified Advisory Corp now owns 14,048 shares of the credit-card processor’s stock worth $3,687,000 after purchasing an additional 705 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Visa by 26.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 15,630 shares of the credit-card processor’s stock worth $4,153,000 after purchasing an additional 3,284 shares in the last quarter. Fairscale Capital LLC bought a new stake in shares of Visa in the 2nd quarter worth approximately $2,031,000. Finally, Fernbridge Capital Management LP bought a new stake in shares of Visa in the 2nd quarter worth approximately $27,984,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.
Visa Trading Down 0.2 %
Shares of V stock opened at $284.77 on Monday. The stock has a fifty day simple moving average of $270.65 and a two-hundred day simple moving average of $273.40. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $293.07. The firm has a market capitalization of $520.83 billion, a PE ratio of 31.82, a PEG ratio of 2.05 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.
Visa Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.73%. Visa’s dividend payout ratio (DPR) is presently 23.24%.
Insider Buying and Selling at Visa
In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.
Analyst Upgrades and Downgrades
V has been the topic of a number of analyst reports. Royal Bank of Canada dropped their price target on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Citigroup dropped their price target on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. TD Cowen dropped their price target on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Compass Point assumed coverage on Visa in a research report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target on the stock. Finally, Macquarie reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $310.22.
View Our Latest Stock Report on Visa
About Visa
Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.
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