IMS Capital Management Raises Stock Holdings in Visa Inc. (NYSE:V)

IMS Capital Management boosted its holdings in shares of Visa Inc. (NYSE:V) by 1.1% in the first quarter, Holdings Channel.com reports. The fund owned 10,693 shares of the credit-card processor’s stock after acquiring an additional 116 shares during the quarter. Visa comprises 1.4% of IMS Capital Management’s portfolio, making the stock its 14th biggest holding. IMS Capital Management’s holdings in Visa were worth $2,984,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Westend Capital Management LLC purchased a new position in shares of Visa during the first quarter valued at $25,000. Livelsberger Financial Advisory bought a new position in shares of Visa during the fourth quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of Visa during the fourth quarter valued at approximately $32,000. Frank Rimerman Advisors LLC bought a new position in Visa in the fourth quarter worth approximately $33,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in Visa during the fourth quarter worth $40,000. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.2 %

Shares of V stock traded up $0.65 during trading hours on Friday, hitting $266.58. The company had a trading volume of 7,017,857 shares, compared to its average volume of 7,476,283. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company’s fifty day moving average is $268.91 and its 200 day moving average is $274.31. The stock has a market capitalization of $487.56 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 1.88 and a beta of 0.95.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the business posted $2.16 earnings per share. Research analysts expect that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.78%. Visa’s dividend payout ratio is presently 23.24%.

Insider Activity

In other news, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on V. JPMorgan Chase & Co. reduced their price target on Visa from $300.00 to $290.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. TD Cowen reduced their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Morgan Stanley dropped their target price on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. StockNews.com cut Visa from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Royal Bank of Canada dropped their price target on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average price target of $307.25.

Visa Profile

Visa Inc operates as a payment technology company in the United States and internationally. 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, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; 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.