Advisor OS LLC bought a new position in shares of Visa Inc (NYSE:V) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,343 shares of the credit-card processor’s stock, valued at approximately $453,000.
Other large investors have also added to or reduced their stakes in the company. Neuberger Berman Group LLC boosted its holdings in shares of Visa by 2.4% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,630,148 shares of the credit-card processor’s stock worth $507,895,000 after purchasing an additional 62,456 shares in the last quarter. WFA of San Diego LLC purchased a new stake in Visa in the 2nd quarter worth approximately $832,000. Quadrature Capital Ltd bought a new position in shares of Visa in the 2nd quarter worth approximately $5,100,000. Handelsbanken Fonder AB bought a new position in shares of Visa in the 2nd quarter worth approximately $75,571,000. Finally, Nuveen Asset Management LLC raised its position in shares of Visa by 5.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 16,193,092 shares of the credit-card processor’s stock worth $3,128,020,000 after acquiring an additional 862,914 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have commented on V. Royal Bank of Canada reiterated a “buy” rating and set a $243.00 target price on shares of Visa in a research note on Sunday. Citigroup lifted their target price on Visa from $205.00 to $223.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Bank of America raised their price target on Visa from $227.00 to $234.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Piper Sandler lifted their target price on Visa from $200.00 to $206.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Finally, Goldman Sachs Group started coverage on Visa in a report on Tuesday, July 14th. They issued a “buy” rating and a $223.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $213.34.
Visa (NYSE:V) last posted its earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period in the prior year, the company posted $1.37 EPS. The company’s revenue for the quarter was down 18.6% on a year-over-year basis. Equities analysts predict that Visa Inc will post 5.01 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Thursday, August 13th. Visa’s dividend payout ratio is presently 22.06%.
In related news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $191.49, for a total value of $1,340,430.00. Following the transaction, the chief executive officer now directly owns 133,090 shares of the company’s stock, valued at approximately $25,485,404.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Rajat Taneja sold 45,036 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $210.00, for a total transaction of $9,457,560.00. Insiders sold a total of 118,122 shares of company stock worth $24,683,231 over the last ninety days. 0.19% of the stock is currently owned by corporate insiders.
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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