First National Bank of Mount Dora Trust Investment Services raised its holdings in Visa Inc. (NYSE:V) by 30.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,731 shares of the credit-card processor’s stock after acquiring an additional 11,540 shares during the period. Visa makes up 2.4% of First National Bank of Mount Dora Trust Investment Services’ investment portfolio, making the stock its 12th largest position. First National Bank of Mount Dora Trust Investment Services’ holdings in Visa were worth $4,664,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in V. Mercer Capital Advisers Inc. raised its holdings in shares of Visa by 2.2% in the 1st quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock valued at $104,000 after acquiring an additional 25 shares in the last quarter. Advantage Investment Management LLC raised its holdings in shares of Visa by 27.4% in the 1st quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock valued at $130,000 after acquiring an additional 314 shares in the last quarter. Delta Asset Management LLC TN raised its holdings in shares of Visa by 2.5% in the 1st quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock valued at $137,000 after acquiring an additional 38 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Visa in the 1st quarter valued at about $153,000. Finally, Tarbox Group Inc. raised its holdings in shares of Visa by 259.5% in the 1st quarter. Tarbox Group Inc. now owns 2,139 shares of the credit-card processor’s stock valued at $190,000 after acquiring an additional 1,544 shares in the last quarter. 81.74% of the stock is currently owned by hedge funds and other institutional investors.
Visa Inc. (NYSE V) traded down 0.74% on Friday, hitting $105.30. The stock had a trading volume of 12,622,921 shares. The firm has a market capitalization of $240.76 billion, a price-to-earnings ratio of 39.16 and a beta of 0.94. The stock’s 50-day moving average is $102.82 and its 200 day moving average is $95.21. Visa Inc. has a 1-year low of $75.17 and a 1-year high of $106.84.
Visa (NYSE:V) last announced its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter in the prior year, the firm earned $0.69 earnings per share. Visa’s revenue was up 25.8% compared to the same quarter last year. On average, equities research analysts predict that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Friday, August 18th were paid a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $0.66 annualized dividend and a yield of 0.63%. Visa’s dividend payout ratio (DPR) is currently 24.54%.
In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the completion of the sale, the executive vice president now owns 17,360 shares in the company, valued at $1,751,797.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mary B. Cranston sold 10,400 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total value of $1,074,528.00. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.
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Several equities analysts have recently commented on V shares. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $100.12 price objective on the stock in a research report on Tuesday, June 27th. Instinet increased their price objective on Visa from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Wells Fargo & Company reiterated a “market perform” rating and set a $100.00 price objective (up from $87.50) on shares of Visa in a research report on Saturday, July 22nd. Citigroup Inc. reiterated a “buy” rating and set a $115.00 price objective (up from $100.00) on shares of Visa in a research report on Monday, July 24th. Finally, Zacks Investment Research lowered Visa from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Four research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. Visa currently has a consensus rating of “Buy” and a consensus price target of $105.35.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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