Oak Ridge Investments LLC increased its stake in shares of Visa Inc. (NYSE:V) by 7.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 255,627 shares of the credit-card processor’s stock after buying an additional 17,074 shares during the period. Oak Ridge Investments LLC’s holdings in Visa were worth $23,973,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of V. Aspen Investment Management Inc increased its stake in shares of Visa by 0.4% in the 1st quarter. Aspen Investment Management Inc now owns 9,272 shares of the credit-card processor’s stock valued at $824,000 after acquiring an additional 40 shares during the last quarter. Dumont & Blake Investment Advisors LLC increased its stake in shares of Visa by 1.3% in the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 7,620 shares of the credit-card processor’s stock valued at $677,000 after acquiring an additional 95 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Visa by 5.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 17,337 shares of the credit-card processor’s stock valued at $1,541,000 after acquiring an additional 874 shares during the last quarter. Crawford Investment Counsel Inc. increased its stake in shares of Visa by 6.7% in the 1st quarter. Crawford Investment Counsel Inc. now owns 126,007 shares of the credit-card processor’s stock valued at $11,198,000 after acquiring an additional 7,893 shares during the last quarter. Finally, Swiss National Bank increased its stake in shares of Visa by 23.2% in the 1st quarter. Swiss National Bank now owns 7,360,428 shares of the credit-card processor’s stock valued at $654,121,000 after acquiring an additional 1,388,200 shares during the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.
A number of research firms recently issued reports on V. Jefferies Group reissued a “buy” rating and set a $125.00 target price (up from $112.00) on shares of Visa in a research note on Tuesday, October 17th. BidaskClub raised Visa from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 10th. Robert W. Baird reissued an “outperform” rating and set a $128.00 target price (up from $122.00) on shares of Visa in a research note on Monday, October 2nd. Morgan Stanley increased their target price on Visa from $125.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, October 26th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $120.00 target price on shares of Visa in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Visa presently has an average rating of “Buy” and an average price target of $117.08.
Visa (NYSE:V) last released its quarterly earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. Visa had a return on equity of 31.80% and a net margin of 36.49%. The firm had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the prior year, the firm posted $0.78 EPS. The business’s revenue was up 13.9% on a year-over-year basis. research analysts forecast that Visa Inc. will post 4.05 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Friday, November 17th were given a dividend of $0.195 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $0.78 dividend on an annualized basis and a yield of 0.72%. This is an increase from Visa’s previous quarterly dividend of $0.17. Visa’s dividend payout ratio is 27.86%.
In other news, SVP James H. Hoffmeister sold 2,146 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $112.09, for a total value of $240,545.14. Following the completion of the sale, the senior vice president now owns 687 shares of the company’s stock, valued at approximately $77,005.83. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.14% of the company’s stock.
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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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