Capital Investment Counsel Inc Has $3.32 Million Stake in Visa Inc. (NYSE:V)

Capital Investment Counsel Inc cut its position in shares of Visa Inc. (NYSE:V) by 7.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,666 shares of the credit-card processor’s stock after selling 1,000 shares during the quarter. Capital Investment Counsel Inc’s holdings in Visa were worth $3,324,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Livelsberger Financial Advisory acquired a new position in shares of Visa during the 4th quarter valued at $25,000. Westend Capital Management LLC bought a new stake in Visa in the 1st quarter valued at about $25,000. Frank Rimerman Advisors LLC acquired a new position in Visa during the 4th quarter worth approximately $33,000. TruNorth Capital Management LLC boosted its holdings in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares in the last quarter. Finally, Bbjs Financial Advisors LLC acquired a new stake in Visa in the second quarter valued at approximately $35,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

NYSE V traded up $1.57 during trading hours on Tuesday, reaching $268.04. 6,734,110 shares of the stock traded hands, compared to its average volume of 7,221,004. 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 stock has a 50 day simple moving average of $266.10 and a two-hundred day simple moving average of $273.43. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96. The company has a market cap of $488.45 billion, a price-to-earnings ratio of 29.95, a price-to-earnings-growth ratio of 1.89 and a beta of 0.95.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates 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 analysts’ expectations of $8.92 billion. During the same quarter last year, the company earned $2.16 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. On average, analysts predict that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have commented on V. UBS Group boosted their price objective on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Citigroup decreased their price target on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. TD Cowen reduced their target price 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. Finally, Macquarie reissued an “outperform” rating and set a $300.00 price target on shares of Visa in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $308.50.

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.