Handelsbanken Fonder AB bought a new position in Visa Inc (NYSE:V) during the 2nd quarter, Holdings Channel reports. The fund bought 391,213 shares of the credit-card processor’s stock, valued at approximately $75,571,000. Visa comprises 0.6% of Handelsbanken Fonder AB’s holdings, making the stock its 27th largest position.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. CBIZ Investment Advisory Services LLC bought a new position in shares of Visa during the 1st quarter worth about $25,000. Cedar Mountain Advisors LLC increased its holdings in shares of Visa by 102.6% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 158 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 80 shares during the period. CVA Family Office LLC bought a new position in shares of Visa during the 1st quarter worth about $32,000. Price Wealth LLC boosted its position in shares of Visa by 90.0% during the 2nd quarter. Price Wealth LLC now owns 190 shares of the credit-card processor’s stock valued at $37,000 after acquiring an additional 90 shares in the last quarter. Finally, Centerpoint Advisors LLC acquired a new stake in shares of Visa during the 2nd quarter valued at about $43,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.
Several analysts have recently weighed in on V shares. Oppenheimer started coverage on shares of Visa in a research report on Tuesday, June 23rd. They set an “outperform” rating and a $202.00 target price on the stock. Daiwa Capital Markets restated a “neutral” rating and issued a $204.00 price target on shares of Visa in a research report on Tuesday, July 21st. KeyCorp boosted their price target on shares of Visa from $190.00 to $215.00 and gave the company a “positive” rating in a research report on Monday, August 3rd. Morgan Stanley boosted their price target on shares of Visa from $196.00 to $203.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Visa from $186.00 to $229.00 and gave the company an “overweight” rating in a research report on Monday, August 17th. Six research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $213.34.
Shares of V remained flat at $$204.98 on Tuesday. 291,461 shares of the company were exchanged, compared to its average volume of 10,546,271. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market cap of $398.15 billion, a PE ratio of 39.21, a P/E/G ratio of 3.05 and a beta of 0.90. The stock’s 50 day simple moving average is $201.49 and its 200 day simple moving average is $186.63. Visa Inc has a twelve month low of $133.93 and a twelve month high of $217.35.
Visa (NYSE:V) last issued its earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.05. Visa had a net margin of 51.37% and a return on equity of 40.65%. The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the firm earned $1.37 earnings per share. The business’s quarterly revenue was down 18.6% on a year-over-year basis. As a group, equities analysts forecast that Visa Inc will post 5.01 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Thursday, August 13th. Visa’s payout ratio is presently 22.06%.
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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