Two Sigma Advisers LP raised its stake in Visa Inc (NYSE:V) by 9.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,336,268 shares of the credit-card processor’s stock after purchasing an additional 210,500 shares during the quarter. Visa makes up about 1.3% of Two Sigma Advisers LP’s portfolio, making the stock its 5th biggest holding. Two Sigma Advisers LP owned 0.12% of Visa worth $451,297,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new position in Visa in the 2nd quarter valued at $239,000. Wills Financial Group Inc. raised its holdings in Visa by 3.4% in the 2nd quarter. Wills Financial Group Inc. now owns 31,441 shares of the credit-card processor’s stock valued at $6,074,000 after acquiring an additional 1,023 shares in the last quarter. Private Portfolio Partners LLC raised its holdings in Visa by 6.4% in the 1st quarter. Private Portfolio Partners LLC now owns 3,881 shares of the credit-card processor’s stock valued at $625,000 after acquiring an additional 233 shares in the last quarter. Whittier Trust Co. raised its holdings in Visa by 5.0% in the 2nd quarter. Whittier Trust Co. now owns 429,246 shares of the credit-card processor’s stock valued at $82,917,000 after acquiring an additional 20,413 shares in the last quarter. Finally, Summit Trail Advisors LLC raised its holdings in Visa by 23.2% in the 1st quarter. Summit Trail Advisors LLC now owns 4,150 shares of the credit-card processor’s stock valued at $669,000 after acquiring an additional 782 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.
In related news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $191.49, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lloyd Carney sold 1,550 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $192.64, for a total value of $298,592.00. Following the transaction, the director now directly owns 2,962 shares in the company, valued at $570,599.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,122 shares of company stock worth $24,683,231. 0.19% of the stock is owned by corporate insiders.
Visa (NYSE:V) last announced its earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 EPS for the quarter, beating the consensus estimate of $1.02 by $0.05. Visa had a return on equity of 40.65% and a net margin of 51.37%. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the prior year, the company earned $1.37 EPS. The firm’s revenue for the quarter was down 18.6% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc will post 5.01 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, August 13th. This represents a $1.20 annualized dividend and a dividend yield of 0.58%. Visa’s payout ratio is 22.06%.
V has been the subject of a number of research analyst reports. Piper Sandler boosted their price target on Visa from $200.00 to $206.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Daiwa Capital Markets reissued a “neutral” rating and set a $204.00 price target on shares of Visa in a report on Tuesday, July 21st. KeyCorp boosted their price target on Visa from $190.00 to $215.00 and gave the stock a “positive” rating in a report on Monday, August 3rd. Wedbush boosted their price target on Visa from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Finally, Morgan Stanley boosted their price target on Visa from $196.00 to $203.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Six analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $213.34.
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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