First Hawaiian Bank boosted its stake in Visa Inc. (NYSE:V – Free Report) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,061 shares of the credit-card processor’s stock after purchasing an additional 183 shares during the quarter. First Hawaiian Bank’s holdings in Visa were worth $6,426,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Financial Freedom LLC purchased a new stake in Visa in the 4th quarter worth $32,000. Ridgewood Investments LLC purchased a new stake in Visa in the 1st quarter worth $35,000. Kalos Management Inc. purchased a new stake in shares of Visa during the 1st quarter valued at about $40,000. NewSquare Capital LLC raised its position in shares of Visa by 121.9% during the 1st quarter. NewSquare Capital LLC now owns 213 shares of the credit-card processor’s stock valued at $48,000 after buying an additional 117 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC raised its position in shares of Visa by 666.7% during the 1st quarter. Moisand Fitzgerald Tamayo LLC now owns 230 shares of the credit-card processor’s stock valued at $52,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 81.35% of the company’s stock.
Wall Street Analyst Weigh In
V has been the topic of several recent research reports. Wells Fargo & Company upped their target price on shares of Visa from $265.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, July 26th. Citigroup upped their target price on shares of Visa from $273.00 to $275.00 in a research report on Wednesday, July 26th. Royal Bank of Canada upped their target price on shares of Visa from $265.00 to $290.00 in a research report on Wednesday, July 26th. Oppenheimer restated an “outperform” rating and set a $248.00 target price on shares of Visa in a research report on Monday, July 24th. Finally, Susquehanna increased their price objective on shares of Visa from $266.00 to $300.00 in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $273.77.
In other news, insider Rajat Taneja sold 2,300 shares of the stock in a transaction that occurred on 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 directly owns 232,112 shares in the company, valued at $55,706,880. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Visa news, CEO Ryan Mcinerney sold 425 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $240.00, for a total value of $102,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rajat Taneja sold 2,300 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total transaction of $552,000.00. Following the completion of the sale, the insider now owns 232,112 shares of the company’s stock, valued at $55,706,880. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,550 shares of company stock worth $19,795,806. Corporate insiders own 0.22% of the company’s stock.
Visa Price Performance
Shares of V stock opened at $241.00 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market capitalization of $448.70 billion, a P/E ratio of 30.58, a P/E/G ratio of 1.81 and a beta of 0.95. The company’s 50-day simple moving average is $241.58 and its two-hundred day simple moving average is $232.04. Visa Inc. has a one year low of $174.60 and a one year high of $250.06.
Visa (NYSE:V – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.05. Visa had a net margin of 51.94% and a return on equity of 49.42%. The firm had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same period last year, the firm earned $1.98 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, equities analysts anticipate that Visa Inc. will post 8.65 EPS for the current year.
Visa Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were paid 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 dividend yield of 0.75%. Visa’s dividend payout ratio is presently 22.84%.
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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