Empirical Asset Management LLC boosted its holdings in Visa Inc. (NYSE:V – Free Report) by 2.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 49,879 shares of the credit-card processor’s stock after buying an additional 1,106 shares during the quarter. Visa accounts for 1.7% of Empirical Asset Management LLC’s holdings, making the stock its 10th largest position. Empirical Asset Management LLC’s holdings in Visa were worth $13,714,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Scarborough Advisors LLC boosted its stake in Visa by 5.1% in the 4th quarter. Scarborough Advisors LLC now owns 926 shares of the credit-card processor’s stock worth $241,000 after purchasing an additional 45 shares during the period. Northwest Bank & Trust Co acquired a new stake in shares of Visa during the 4th quarter valued at $71,000. Richardson Financial Services Inc. acquired a new stake in shares of Visa during the 4th quarter valued at $1,199,000. Congress Asset Management Co. MA boosted its stake in shares of Visa by 0.3% during the 4th quarter. Congress Asset Management Co. MA now owns 571,173 shares of the credit-card processor’s stock valued at $148,705,000 after buying an additional 1,899 shares during the period. Finally, PBCay One RSC Ltd acquired a new stake in shares of Visa during the 4th quarter valued at $6,589,000. Institutional investors and hedge funds own 82.15% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on V shares. Jefferies Financial Group decreased their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Macquarie reissued an “outperform” rating and set a $300.00 target price on shares of Visa in a research note on Friday, September 27th. Citigroup decreased their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Evercore ISI reduced their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $313.81.
Insider Activity at Visa
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by insiders.
Visa Stock Performance
Shares of NYSE:V traded up $0.79 on Monday, hitting $278.63. 444,299 shares of the company were exchanged, compared to its average volume of 7,095,073. The company’s 50 day moving average price is $274.16 and its two-hundred day moving average price is $272.62. Visa Inc. has a one year low of $228.03 and a one year high of $293.07. 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 firm has a market capitalization of $509.60 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 1.92 and a beta of 0.96.
Visa (NYSE:V – Get Free Report) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion for 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 firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.16 earnings per share. Research analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.
Visa Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. Visa’s payout ratio is currently 23.24%.
About Visa
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.
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