Capital Directions Investment Advisors LLC bought a new position in shares of Visa Inc. (NYSE:V) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,842 shares of the credit-card processor’s stock, valued at approximately $898,000.
A number of other hedge funds have also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund boosted its position in Visa by 3.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 367,892 shares of the credit-card processor’s stock valued at $86,021,000 after acquiring an additional 13,120 shares during the last quarter. Greenleaf Trust boosted its position in shares of Visa by 2.1% during the 2nd quarter. Greenleaf Trust now owns 210,478 shares of the credit-card processor’s stock valued at $49,214,000 after purchasing an additional 4,292 shares in the last quarter. Heritage Wealth Advisors grew its stake in Visa by 66.1% during the second quarter. Heritage Wealth Advisors now owns 50,010 shares of the credit-card processor’s stock worth $10,939,000 after purchasing an additional 19,910 shares during the period. WT Wealth Management lifted its stake in Visa by 8.7% in the second quarter. WT Wealth Management now owns 10,950 shares of the credit-card processor’s stock valued at $2,560,000 after buying an additional 879 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of Visa by 8.8% during the 1st quarter. Janus Henderson Group PLC now owns 8,673,916 shares of the credit-card processor’s stock worth $1,837,698,000 after buying an additional 698,028 shares in the last quarter. Institutional investors and hedge funds own 81.04% of the company’s stock.
V traded up $2.27 during mid-day trading on Thursday, reaching $224.73. 153,241 shares of the company traded hands, compared to its average volume of 8,111,718. The stock has a market capitalization of $437.77 billion, a P/E ratio of 45.47, a P/E/G ratio of 2.00 and a beta of 0.98. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.61. The company’s fifty day moving average price is $228.88 and its 200-day moving average price is $230.73. Visa Inc. has a 52-week low of $179.23 and a 52-week high of $252.67.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Friday, August 13th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.57%. Visa’s dividend payout ratio is presently 25.40%.
In related news, President Ryan Mcinerney sold 11,194 shares of the business’s stock in a transaction on Friday, October 1st. The shares were sold at an average price of $224.17, for a total value of $2,509,358.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tullier Kelly Mahon sold 2,091 shares of Visa stock in a transaction that occurred on Wednesday, July 28th. The stock was sold at an average price of $248.71, for a total value of $520,052.61. Following the completion of the sale, the executive vice president now directly owns 32,055 shares in the company, valued at $7,972,399.05. The disclosure for this sale can be found here. Insiders have sold a total of 53,671 shares of company stock valued at $12,623,562 over the last 90 days. 0.19% of the stock is currently owned by company insiders.
A number of equities analysts have issued reports on the company. Piper Sandler lifted their price target on Visa from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Wednesday, July 28th. Robert W. Baird boosted their price objective on Visa from $282.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, July 15th. Citigroup raised their price target on shares of Visa from $283.00 to $288.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Truist lifted their target price on shares of Visa from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. Finally, Compass Point lifted their target price on shares of Visa from $265.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. One equities research analyst has rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, Visa currently has an average rating of “Buy” and a consensus target price of $272.71.
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.
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