Bessemer Group Inc. increased its position in shares of Visa Inc (NYSE:V) by 26.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,587,359 shares of the credit-card processor’s stock after buying an additional 745,413 shares during the quarter. Visa comprises approximately 2.1% of Bessemer Group Inc.’s portfolio, making the stock its 4th largest position. Bessemer Group Inc. owned about 0.18% of Visa worth $622,585,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC grew 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 worth $28,000 after acquiring an additional 86 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of Visa in the fourth quarter worth $33,000. Hexavest Inc. acquired a new position in shares of Visa in the second quarter worth $40,000. Mackey Komara & Dankovich LLC grew its stake in shares of Visa by 406.6% in the second quarter. Mackey Komara & Dankovich LLC now owns 1,611 shares of the credit-card processor’s stock worth $56,000 after acquiring an additional 1,293 shares in the last quarter. Finally, Financial Gravity Companies Inc. acquired a new position in shares of Visa in the fourth quarter worth $57,000. 81.00% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:V traded down $0.16 on Tuesday, reaching $180.41. The company’s stock had a trading volume of 3,941,755 shares, compared to its average volume of 5,721,412. The business has a 50-day moving average price of $173.72. Visa Inc has a 52-week low of $121.60 and a 52-week high of $181.84. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. The company has a market cap of $360.43 billion, a PE ratio of 39.13, a P/E/G ratio of 2.03 and a beta of 0.96.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 16th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 0.55%. Visa’s dividend payout ratio is currently 21.69%.
In related news, EVP William M. Sheedy sold 75,676 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $165.24, for a total transaction of $12,504,702.24. Following the completion of the transaction, the executive vice president now directly owns 300,114 shares of the company’s stock, valued at $49,590,837.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.17% of the company’s stock.
Several equities analysts have commented on the stock. Barclays boosted their price target on shares of from $65.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday. Zacks Investment Research downgraded shares of Zai Lab from a “buy” rating to a “hold” rating in a research note on Saturday, June 15th. Deutsche Bank set a $81.00 price target on shares of Franco Nevada and gave the stock a “hold” rating in a research note on Thursday, July 11th. Robert W. Baird set a $182.00 target price on shares of Visa and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Finally, Wedbush reiterated an “outperform” rating and set a $65.00 target price (up previously from $60.00) on shares of Walker & Dunlop in a research note on Wednesday, July 3rd. Two investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Visa currently has an average rating of “Buy” and an average price target of $186.04.
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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