New England Research & Management Inc. Takes $1.04 Million Position in Visa Inc. (NYSE:V)

New England Research & Management Inc. bought a new stake in Visa Inc. (NYSE:VFree Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,375 shares of the credit-card processor’s stock, valued at approximately $1,039,000.

Several other institutional investors and hedge funds have also made changes to their positions in V. Keudell Morrison Wealth Management grew its holdings in Visa by 0.4% during the first quarter. Keudell Morrison Wealth Management now owns 11,761 shares of the credit-card processor’s stock worth $2,652,000 after purchasing an additional 43 shares during the period. Successful Portfolios LLC grew its holdings in Visa by 3.6% during the first quarter. Successful Portfolios LLC now owns 1,232 shares of the credit-card processor’s stock worth $278,000 after purchasing an additional 43 shares during the period. Wedge Capital Management L L P NC grew its holdings in Visa by 1.6% during the first quarter. Wedge Capital Management L L P NC now owns 2,914 shares of the credit-card processor’s stock worth $657,000 after purchasing an additional 45 shares during the period. Seascape Capital Management grew its holdings in Visa by 0.3% during the first quarter. Seascape Capital Management now owns 16,038 shares of the credit-card processor’s stock worth $3,616,000 after purchasing an additional 48 shares during the period. Finally, Pure Financial Advisors LLC grew its holdings in Visa by 1.4% during the first quarter. Pure Financial Advisors LLC now owns 3,581 shares of the credit-card processor’s stock worth $807,000 after purchasing an additional 49 shares during the period. 81.35% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Performance

NYSE V opened at $241.50 on Friday. The company has a market capitalization of $449.63 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 1.86 and a beta of 0.95. Visa Inc. has a twelve month low of $174.60 and a twelve month high of $250.06. The stock has a fifty day simple moving average of $241.52 and a 200 day simple moving average of $231.98. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.55.

Visa (NYSE:VGet Free Report) last posted its quarterly earnings data on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.05. The business had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.06 billion. Visa had a return on equity of 49.42% and a net margin of 51.94%. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.98 earnings per share. Sell-side analysts expect that Visa Inc. will post 8.65 EPS for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, August 10th. This represents a $1.80 dividend on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is currently 22.84%.

Insider Buying and Selling at Visa

In other news, insider Rajat Taneja sold 2,300 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total transaction of $552,000.00. Following the transaction, the insider now owns 232,112 shares of the company’s stock, valued at approximately $55,706,880. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $247.47, for a total transaction of $2,016,880.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Rajat Taneja sold 2,300 shares of the stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total transaction of $552,000.00. Following the transaction, the insider now directly owns 232,112 shares in the company, valued at approximately $55,706,880. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,750 shares of company stock valued at $15,845,648. 0.22% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Royal Bank of Canada lifted their price target on Visa from $265.00 to $290.00 in a report on Wednesday, July 26th. JPMorgan Chase & Co. boosted their price objective on Visa from $265.00 to $296.00 and gave the stock an “overweight” rating in a report on Tuesday, August 22nd. Wedbush restated an “outperform” rating and set a $270.00 price objective on shares of Visa in a report on Thursday, August 31st. Raymond James boosted their price target on Visa from $282.00 to $284.00 and gave the company an “outperform” rating in a research note on Wednesday, July 26th. Finally, StockNews.com started coverage on Visa in a research note on Thursday, August 17th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $273.77.

Read Our Latest Report on Visa

About Visa

(Free Report)

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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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Institutional Ownership by Quarter for Visa (NYSE:V)

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