grace capital bought a new stake in shares of Visa Inc (NYSE:V) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 23,730 shares of the credit-card processor’s stock, valued at approximately $3,142,000. Visa comprises 1.2% of grace capital’s investment portfolio, making the stock its 23rd largest position.
Several other hedge funds have also added to or reduced their stakes in V. Fort L.P. purchased a new position in Visa in the 2nd quarter worth approximately $120,000. Cascade Investment Advisors Inc. purchased a new position in Visa in the 2nd quarter worth approximately $132,000. Bridgeworth LLC purchased a new position in Visa in the 2nd quarter worth approximately $143,000. Ruggie Capital Group purchased a new position in Visa in the 2nd quarter worth approximately $164,000. Finally, Signature Estate & Investment Advisors LLC raised its holdings in Visa by 36.8% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 1,357 shares of the credit-card processor’s stock worth $180,000 after acquiring an additional 365 shares during the last quarter. Hedge funds and other institutional investors own 80.38% of the company’s stock.
In other news, EVP William M. Sheedy sold 99,636 shares of the business’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $139.28, for a total transaction of $13,877,302.08. Following the completion of the sale, the executive vice president now owns 296,925 shares of the company’s stock, valued at approximately $41,355,714. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.
Visa (NYSE:V) last issued its quarterly earnings data on Wednesday, October 24th. The credit-card processor reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Visa had a net margin of 49.98% and a return on equity of 38.00%. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.44 billion. On average, sell-side analysts forecast that Visa Inc will post 5.32 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Friday, November 16th will be given a dividend of $0.25 per share. This is an increase from Visa’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.69%. Visa’s payout ratio is presently 18.22%.
A number of equities research analysts have weighed in on V shares. Zacks Investment Research upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $168.00 target price for the company in a research note on Tuesday, September 25th. Morgan Stanley boosted their target price on shares of Visa from $142.00 to $165.00 and gave the company a “$140.13” rating in a research note on Thursday, July 19th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $166.00 target price on shares of Visa in a research note on Thursday, October 25th. Royal Bank of Canada boosted their target price on shares of Visa to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, September 5th. Finally, Raymond James reiterated an “outperform” rating and set a $165.00 target price on shares of Visa in a research note on Tuesday, July 24th. Two analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company’s stock. Visa presently has a consensus rating of “Buy” and a consensus target price of $155.47.
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.
Further Reading: What are the reasons investors use put options?
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc (NYSE:V).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.