Visa Inc. (NYSE:V) is Hendley & Co. Inc.’s 3rd Largest Position

Hendley & Co. Inc. boosted its holdings in Visa Inc. (NYSE:V) by 11.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,838 shares of the credit-card processor’s stock after purchasing an additional 7,672 shares during the quarter. Visa comprises 7.1% of Hendley & Co. Inc.’s investment portfolio, making the stock its 3rd largest holding. Hendley & Co. Inc.’s holdings in Visa were worth $19,905,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in V. Steele Capital Management Inc. increased its position in shares of Visa by 6.1% in the second quarter. Steele Capital Management Inc. now owns 2,518 shares of the credit-card processor’s stock worth $661,000 after acquiring an additional 144 shares in the last quarter. Howard Capital Management Group LLC increased its holdings in shares of Visa by 0.3% in the second quarter. Howard Capital Management Group LLC now owns 105,745 shares of the credit-card processor’s stock valued at $27,755,000 after buying an additional 327 shares in the last quarter. Falcon Wealth Planning lifted its position in shares of Visa by 10.0% during the 2nd quarter. Falcon Wealth Planning now owns 1,318 shares of the credit-card processor’s stock valued at $346,000 after acquiring an additional 120 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Visa by 1.1% in the 2nd quarter. V Square Quantitative Management LLC now owns 27,244 shares of the credit-card processor’s stock worth $7,151,000 after acquiring an additional 297 shares during the last quarter. Finally, Lodestone Wealth Management LLC raised its position in shares of Visa by 1.9% during the second quarter. Lodestone Wealth Management LLC now owns 7,364 shares of the credit-card processor’s stock worth $1,933,000 after purchasing an additional 137 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Morgan Stanley dropped their price target on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Evercore ISI cut their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. William Blair raised shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada reduced their target price on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $307.25.

Visa Stock Performance

Shares of Visa stock traded up $1.01 on Wednesday, reaching $261.14. The stock had a trading volume of 8,223,922 shares, compared to its average volume of 7,238,238. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The business’s 50-day moving average price is $267.11 and its two-hundred day moving average price is $273.77. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $475.88 billion, a P/E ratio of 29.08, a price-to-earnings-growth ratio of 1.83 and a beta of 0.95.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.16 earnings per share. On average, sell-side analysts forecast that Visa Inc. will post 9.91 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.80%. Visa’s dividend payout ratio is presently 23.24%.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.