Carret Asset Management LLC raised its position in Visa Inc. (NYSE:V) by 9.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,784 shares of the credit-card processor’s stock after buying an additional 2,398 shares during the period. Carret Asset Management LLC’s holdings in Visa were worth $2,061,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the company. Sii Investments Inc. WI boosted its position in shares of Visa by 10.2% in the second quarter. Sii Investments Inc. WI now owns 15,993 shares of the credit-card processor’s stock worth $1,187,000 after buying an additional 1,478 shares in the last quarter. National Planning Corp boosted its position in shares of Visa by 10.3% in the second quarter. National Planning Corp now owns 15,987 shares of the credit-card processor’s stock worth $1,251,000 after buying an additional 1,495 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Visa by 1.9% in the second quarter. Principal Financial Group Inc. now owns 3,386,770 shares of the credit-card processor’s stock worth $251,197,000 after buying an additional 63,500 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in shares of Visa during the second quarter worth $139,000. Finally, Private Advisor Group LLC boosted its position in shares of Visa by 31.2% in the second quarter. Private Advisor Group LLC now owns 111,772 shares of the credit-card processor’s stock worth $8,278,000 after buying an additional 26,562 shares in the last quarter. 80.08% of the stock is owned by hedge funds and other institutional investors.
Shares of Visa Inc. (NYSE:V) opened at 82.70 on Friday. Visa Inc. has a 12-month low of $66.12 and a 12-month high of $83.79. The firm has a 50-day moving average of $81.68 and a 200-day moving average of $78.74. The firm has a market capitalization of $195.17 billion, a PE ratio of 35.15 and a beta of 0.91.
Visa (NYSE:V) last announced its quarterly earnings data on Thursday, July 21st. The credit-card processor reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. The firm earned $3.63 billion during the quarter, compared to analyst estimates of $3.67 billion. Visa had a net margin of 38.72% and a return on equity of 22.36%. Equities analysts anticipate that Visa Inc. will post $2.79 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Friday, August 19th were issued a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.68%. Visa’s payout ratio is 24.35%.
Several equities research analysts recently commented on the stock. Pacific Crest reaffirmed a “buy” rating on shares of Visa in a research report on Friday, July 22nd. Nomura reissued a “buy” rating and set a $91.00 price target on shares of Visa in a research report on Monday, July 25th. Oppenheimer Holdings Inc. boosted their price target on shares of Visa from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, June 10th. Piper Jaffray Cos. reissued an “overweight” rating and set a $94.00 price target on shares of Visa in a research report on Friday, August 5th. Finally, Sanford C. Bernstein reissued a “buy” rating on shares of Visa in a research report on Wednesday, June 15th. Four equities research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $88.54.
Visa Company Profile
Visa Inc is a payments technology company. The Company is engaged in operating a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions across the world. The Company provides its services to consumers, businesses, financial institutions and governments in more than 200 countries and territories for electronic payments.
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