PenderFund Capital Management Ltd. Purchases 58,946 Shares of Visa Inc (NYSE:V)

PenderFund Capital Management Ltd. increased its stake in Visa Inc (NYSE:V) by 4,037.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,406 shares of the credit-card processor’s stock after acquiring an additional 58,946 shares during the period. PenderFund Capital Management Ltd.’s holdings in Visa were worth $1,140,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Lowe Wealth Advisors LLC boosted its holdings in shares of 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 purchasing an additional 86 shares during the period. Essex Investment Management Co. LLC purchased a new stake in shares of Visa during the fourth quarter worth about $33,000. Mcmillion Capital Management Inc. purchased a new stake in shares of Visa during the second quarter worth about $38,000. Hexavest Inc. purchased a new stake in shares of Visa during the second quarter worth about $40,000. Finally, Mackey Komara & Dankovich LLC boosted its holdings in shares of Visa by 406.6% during the second quarter. Mackey Komara & Dankovich LLC now owns 1,611 shares of the credit-card processor’s stock worth $56,000 after purchasing an additional 1,293 shares during the period. Institutional investors own 81.15% of the company’s stock.

In related news, Director Denise M. Morrison purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was bought at an average cost of $171.13 per share, with a total value of $171,130.00. Following the completion of the purchase, the director now directly owns 3,223 shares in the company, valued at $551,551.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lloyd Carney sold 3,500 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $182.73, for a total transaction of $639,555.00. Following the completion of the transaction, the director now directly owns 3,452 shares of the company’s stock, valued at $630,783.96. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.

A number of analysts have recently weighed in on the stock. Guggenheim increased their target price on shares of Visa from $178.00 to $190.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Deutsche Bank increased their target price on shares of Visa from $177.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Wells Fargo & Co increased their target price on shares of Visa from $181.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. Barclays increased their target price on shares of Visa from $181.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Finally, Oppenheimer increased their target price on shares of Visa from $162.00 to $176.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Visa has a consensus rating of “Buy” and a consensus price target of $195.46.

V stock traded down $0.85 during trading on Friday, reaching $179.05. The company had a trading volume of 5,147,430 shares, compared to its average volume of 7,073,656. Visa Inc has a 52 week low of $121.60 and a 52 week high of $184.07. The stock has a market cap of $356.91 billion, a P/E ratio of 38.84, a P/E/G ratio of 2.01 and a beta of 0.96. The business’s 50 day moving average price is $177.57. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.69 and a current ratio of 1.69.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.04. Visa had a net margin of 53.43% and a return on equity of 41.04%. The company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the prior year, the firm earned $1.20 earnings per share. Visa’s revenue was up 11.5% on a year-over-year basis. Analysts forecast that Visa Inc will post 5.4 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Thursday, August 15th. Visa’s payout ratio is currently 21.69%.

About Visa

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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Institutional Ownership by Quarter for Visa (NYSE:V)

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