Capital Investment Counsel Inc cut its position in shares of Visa Inc. (NYSE:V – Free Report) 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 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.
View Our Latest Analysis on Visa
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.
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