grace capital purchased a new position in Visa Inc (NYSE:V) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 23,730 shares of the credit-card processor’s stock, valued at approximately $3,142,000. Visa accounts for approximately 1.2% of grace capital’s portfolio, making the stock its 23rd largest position.
Several other institutional investors also recently bought and sold shares of the company. Colony Group LLC raised its position in shares of Visa by 1.4% in the second quarter. Colony Group LLC now owns 31,318 shares of the credit-card processor’s stock worth $4,148,000 after buying an additional 428 shares in the last quarter. Albion Financial Group UT raised its position in shares of Visa by 5.9% in the second quarter. Albion Financial Group UT now owns 96,598 shares of the credit-card processor’s stock worth $12,794,000 after buying an additional 5,409 shares in the last quarter. Krilogy Financial LLC raised its position in shares of Visa by 25.2% in the second quarter. Krilogy Financial LLC now owns 2,804 shares of the credit-card processor’s stock worth $371,000 after buying an additional 565 shares in the last quarter. Resources Investment Advisors Inc. raised its position in shares of Visa by 12.2% in the second quarter. Resources Investment Advisors Inc. now owns 4,477 shares of the credit-card processor’s stock worth $593,000 after buying an additional 486 shares in the last quarter. Finally, Bridgeworth LLC purchased a new stake in shares of Visa in the second quarter worth $143,000. 80.38% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:V opened at $143.93 on Friday. Visa Inc has a 12-month low of $106.60 and a 12-month high of $151.56. The stock has a market cap of $286.40 billion, a PE ratio of 31.22, a P/E/G ratio of 1.53 and a beta of 1.11. The company has a current ratio of 1.61, a quick ratio of 1.69 and a debt-to-equity ratio of 0.58.
Visa (NYSE:V) last announced its quarterly earnings data on Wednesday, October 24th. The credit-card processor reported $1.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.01. Visa had a return on equity of 38.00% and a net margin of 49.98%. The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.44 billion. As a group, analysts anticipate that Visa Inc will post 5.32 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Friday, November 16th will be paid a dividend of $0.25 per share. This is a boost from Visa’s previous quarterly dividend of $0.21. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, November 15th. Visa’s dividend payout ratio (DPR) is 18.22%.
A number of equities research analysts recently issued reports on the company. Loop Capital increased their price objective on Visa to $157.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. They noted that the move was a valuation call. Cantor Fitzgerald raised their price target on Visa to $160.00 and gave the company an “overweight” rating in a research report on Thursday, July 26th. BMO Capital Markets raised their price target on Visa from $187.00 to $196.00 and gave the company an “outperform” rating in a research report on Thursday, October 25th. JPMorgan Chase & Co. restated a “buy” rating and set a $166.00 price target on shares of Visa in a research report on Thursday, October 25th. Finally, Oppenheimer raised their price target on Visa from $143.00 to $154.00 and gave the company an “outperform” rating in a research report on Tuesday, July 17th. Two investment analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. Visa presently has an average rating of “Buy” and a consensus target price of $155.47.
In other news, EVP William M. Sheedy sold 99,636 shares of the firm’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $139.28, for a total transaction of $13,877,302.08. Following the transaction, the executive vice president now directly owns 296,925 shares of the company’s stock, valued at $41,355,714. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is currently owned by company insiders.
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Visa Company Profile
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.
Further Reading: Initial Public Offering (IPO)
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