HWG Holdings LP bought a new stake in Visa Inc (NYSE:V) during the second quarter, according to its most recent filing with the SEC. The firm bought 4,222 shares of the credit-card processor’s stock, valued at approximately $816,000.
A number of other large investors have also recently bought and sold shares of the stock. Ridgewood Investments LLC acquired a new stake in Visa in the 2nd quarter worth $239,000. Private Portfolio Partners LLC grew its position in Visa by 6.4% in the 1st quarter. Private Portfolio Partners LLC now owns 3,881 shares of the credit-card processor’s stock worth $625,000 after purchasing an additional 233 shares during the last quarter. Whittier Trust Co. grew its position in Visa by 5.0% in the 2nd quarter. Whittier Trust Co. now owns 429,246 shares of the credit-card processor’s stock worth $82,917,000 after purchasing an additional 20,413 shares during the last quarter. Summit Trail Advisors LLC grew its position in Visa by 23.2% in the 1st quarter. Summit Trail Advisors LLC now owns 4,150 shares of the credit-card processor’s stock worth $669,000 after purchasing an additional 782 shares during the last quarter. Finally, Northwest Bancshares Inc. lifted its holdings in shares of Visa by 180.2% during the 1st quarter. Northwest Bancshares Inc. now owns 24,446 shares of the credit-card processor’s stock worth $3,939,000 after acquiring an additional 15,721 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.
A number of research firms have recently commented on V. SunTrust Banks raised their price objective on shares of Visa from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Piper Sandler lifted their price target on shares of Visa from $200.00 to $206.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Wedbush lifted their price target on shares of Visa from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Oppenheimer initiated coverage on shares of Visa in a report on Tuesday, June 23rd. They set an “outperform” rating and a $202.00 price target for the company. Finally, Cowen lifted their price target on shares of Visa from $189.00 to $196.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. Seven investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $212.28.
Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.05. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.85 billion. Visa had a net margin of 51.37% and a return on equity of 40.65%. The firm’s revenue for the quarter was down 18.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.37 earnings per share. Research analysts anticipate that Visa Inc will post 5.01 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.60%. The ex-dividend date was Thursday, August 13th. Visa’s dividend payout ratio (DPR) is currently 22.06%.
In related news, insider Rajat Taneja sold 45,036 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $210.00, for a total value of $9,457,560.00. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $191.49, for a total transaction of $1,340,430.00. Following the completion of the transaction, the chief executive officer now owns 133,090 shares in the company, valued at $25,485,404.10. The disclosure for this sale can be found here. Insiders have sold 118,122 shares of company stock worth $24,683,231 over the last ninety days. Insiders own 0.19% of the company’s stock.
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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