Leavell Investment Management Inc. increased its position in Visa Inc. (NYSE:V – Free Report) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,304 shares of the credit-card processor’s stock after purchasing an additional 438 shares during the period. Visa makes up 0.9% of Leavell Investment Management Inc.’s investment portfolio, making the stock its 25th largest holding. Leavell Investment Management Inc.’s holdings in Visa were worth $12,659,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of V. BCK Partners Inc. bought a new position in shares of Visa in the 1st quarter worth $2,717,000. Markel Corp lifted its holdings in shares of Visa by 0.3% in the 1st quarter. Markel Corp now owns 961,105 shares of the credit-card processor’s stock worth $213,144,000 after purchasing an additional 3,065 shares in the last quarter. AMI Investment Management Inc. purchased a new stake in Visa in the 1st quarter valued at $2,323,000. Ergoteles LLC purchased a new stake in Visa in the 1st quarter valued at $538,000. Finally, XTX Topco Ltd purchased a new stake in Visa in the 1st quarter valued at $1,496,000. 81.35% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on V shares. Wells Fargo & Company increased their price target on Visa from $265.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, July 26th. Susquehanna raised their target price on Visa from $266.00 to $300.00 in a research report on Wednesday, July 26th. Bank of America raised their target price on Visa from $270.00 to $275.00 in a research report on Tuesday, July 18th. Raymond James lifted their price objective on Visa from $282.00 to $284.00 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. Finally, Truist Financial lifted their price objective on Visa from $270.00 to $275.00 in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $273.77.
View Our Latest Stock Analysis on Visa
Visa Trading Down 0.7 %
Visa stock opened at $230.01 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. The business’s fifty day simple moving average is $240.53 and its two-hundred day simple moving average is $233.34. Visa Inc. has a 12 month low of $174.60 and a 12 month high of $250.06. The company has a market capitalization of $428.24 billion, a price-to-earnings ratio of 29.19, a price-to-earnings-growth ratio of 1.73 and a beta of 0.95.
Visa (NYSE:V – Get Free Report) last released its earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 EPS for the quarter, topping the consensus estimate of $2.11 by $0.05. Visa had a return on equity of 49.42% and a net margin of 51.94%. The business had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same period in the previous year, the company posted $1.98 earnings per share. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities analysts predict that Visa Inc. will post 8.65 earnings per share for the current fiscal year.
Visa Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Thursday, August 10th. Visa’s payout ratio is currently 22.84%.
In other news, CEO Ryan Mcinerney sold 24,025 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total transaction of $5,766,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Rajat Taneja sold 22,700 shares of the company’s stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $240.21, for a total transaction of $5,452,767.00. Following the completion of the sale, the insider now owns 232,112 shares in the company, valued at $55,755,623.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 24,025 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total value of $5,766,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 81,550 shares of company stock valued at $19,795,806 over the last ninety days. 0.22% of the stock is currently owned by corporate insiders.
Visa Inc operates as a payments technology company worldwide. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; and Visa DPS that provides a range of value added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.
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