Moneta Group Investment Advisors LLC increased its stake in Visa Inc (NYSE:V) by 20.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,459 shares of the credit-card processor’s stock after acquiring an additional 945 shares during the period. Moneta Group Investment Advisors LLC’s holdings in Visa were worth $694,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Krane Funds Advisors LLC acquired a new stake in Visa during the second quarter valued at approximately $26,000. Lowe Wealth Advisors LLC grew its position in 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 buying an additional 86 shares during the last quarter. Personal Wealth Partners acquired a new position in Visa in the second quarter worth approximately $30,000. Essex Investment Management Co. LLC bought a new position in shares of Visa in the fourth quarter valued at $33,000. Finally, Mcmillion Capital Management Inc. bought a new position in shares of Visa in the second quarter valued at $38,000. Institutional investors and hedge funds own 81.20% of the company’s stock.
Shares of V traded down $1.85 during trading hours on Wednesday, reaching $174.50. The company’s stock had a trading volume of 6,002,080 shares, compared to its average volume of 5,549,568. The firm has a market cap of $360.18 billion, a price-to-earnings ratio of 37.85, a P/E/G ratio of 2.04 and a beta of 0.97. Visa Inc has a 1-year low of $121.60 and a 1-year high of $187.05. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $179.35 and a two-hundred day moving average of $166.94.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were paid a $0.25 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 0.57%. Visa’s dividend payout ratio is presently 21.69%.
Several research firms have recently weighed in on V. SunTrust Banks raised their price objective on Visa to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. KeyCorp upped their target price on Visa from $190.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Goldman Sachs Group reiterated a “buy” rating and issued a $202.00 price target on shares of Visa in a research report on Wednesday, July 24th. Guggenheim lifted their price target on Visa from $178.00 to $190.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. Finally, UBS Group lifted their price target on Visa from $183.00 to $187.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $196.57.
In other news, insider Vasant M. Prabhu sold 25,051 shares of Visa stock in a transaction dated 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 completion of the sale, the insider now directly owns 62,223 shares in the company, valued at approximately $11,271,074.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Denise M. Morrison purchased 1,000 shares of Visa stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $171.13 per share, with a total value of $171,130.00. Following the completion of the acquisition, the director now owns 3,223 shares in the company, valued at $551,551.99. The disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.
Visa Company Profile
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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