Salvus Wealth Management LLC Purchases 299 Shares of Visa Inc. (NYSE:V)

Salvus Wealth Management LLC lifted its holdings in Visa Inc. (NYSE:V) by 10.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,036 shares of the credit-card processor’s stock after buying an additional 299 shares during the period. Salvus Wealth Management LLC’s holdings in Visa were worth $797,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Visa by 0.6% during the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after purchasing an additional 788,908 shares during the period. Capital International Investors grew its stake in Visa by 2.7% in the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after acquiring an additional 626,618 shares during the period. Capital World Investors grew its stake in Visa by 5.4% in the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after acquiring an additional 968,008 shares during the period. Norges Bank acquired a new stake in Visa in the fourth quarter valued at approximately $3,895,015,000. Finally, Jennison Associates LLC grew its stake in Visa by 0.7% in the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after acquiring an additional 85,123 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Visa stock traded up $5.67 during midday trading on Thursday, reaching $266.81. The stock had a trading volume of 7,397,535 shares, compared to its average volume of 7,241,343. The firm has a market capitalization of $486.21 billion, a PE ratio of 29.53, a P/E/G ratio of 1.83 and a beta of 0.95. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $290.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm’s 50-day moving average price is $266.84 and its 200 day moving average price is $273.69.

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

Visa Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on V shares. Mizuho raised their target price on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Macquarie restated an “outperform” rating and issued a $300.00 target price on shares of Visa in a report on Wednesday, July 24th. Bank of America restated a “neutral” rating and issued a $297.00 target price (down previously from $305.00) on shares of Visa in a report on Wednesday, July 10th. UBS Group raised their target price on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada dropped their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.