Honkamp Krueger Financial Services Inc. increased its holdings in shares of Visa Inc (NYSE:V) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,449 shares of the credit-card processor’s stock after acquiring an additional 840 shares during the quarter. Honkamp Krueger Financial Services Inc.’s holdings in Visa were worth $3,779,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lowe Wealth Advisors LLC increased its stake in shares of Visa by 114.7% in the second quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 86 shares during the period. Personal Wealth Partners acquired a new stake in shares of Visa in the second quarter valued at approximately $30,000. Essex Investment Management Co. LLC acquired a new stake in shares of Visa in the fourth quarter valued at approximately $33,000. Mcmillion Capital Management Inc. acquired a new stake in shares of Visa in the second quarter valued at approximately $38,000. Finally, Hexavest Inc. acquired a new stake in shares of Visa in the second quarter valued at approximately $40,000. Hedge funds and other institutional investors own 81.34% of the company’s stock.
Several brokerages have commented on V. Nomura raised their price target on shares of Visa from $178.00 to $204.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald restated a “buy” rating and issued a $181.00 price target on shares of Visa in a research note on Sunday, April 28th. Credit Suisse Group raised their price target on shares of Visa from $200.00 to $203.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. SunTrust Banks raised their price target on shares of Visa to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Barclays raised their price target on shares of Visa from $181.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $195.46.
In other Visa news, Director Denise M. Morrison bought 1,000 shares of Visa stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $171.13 per share, for a total transaction of $171,130.00. Following the completion of the acquisition, the director now owns 3,223 shares of the company’s stock, valued at approximately $551,551.99. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Vasant M. Prabhu sold 25,051 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.14, for a total transaction of $4,537,738.14. Following the sale, the insider now owns 62,223 shares of the company’s stock, valued at $11,271,074.22. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.
Shares of Visa stock traded down $4.86 on Friday, hitting $175.23. The company had a trading volume of 5,588,266 shares, compared to its average volume of 7,191,987. The business has a 50-day simple moving average of $178.88 and a 200-day simple moving average of $163.56. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.69. The company has a market cap of $357.28 billion, a PE ratio of 38.01, a PEG ratio of 2.01 and a beta of 0.96. Visa Inc has a 52 week low of $121.60 and a 52 week high of $184.07.
Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.04. The business had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Visa had a net margin of 53.43% and a return on equity of 41.04%. The business’s revenue was up 11.5% on a year-over-year basis. During the same period last year, the firm posted $1.20 earnings per share. On average, equities research analysts predict that Visa Inc will post 5.4 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 15th. Visa’s dividend payout ratio (DPR) is presently 21.69%.
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.
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