Visa Inc. (NYSE:V) is Northeast Investment Management’s 7th Largest Position

Northeast Investment Management reduced its position in Visa Inc. (NYSE:V) by 1.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 260,783 shares of the credit-card processor’s stock after selling 3,300 shares during the period. Visa comprises approximately 3.2% of Northeast Investment Management’s holdings, making the stock its 7th biggest holding. Northeast Investment Management’s holdings in Visa were worth $68,448,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of V. Legend Financial Advisors Inc. grew its stake in shares of Visa by 1,558.0% during the 2nd quarter. Legend Financial Advisors Inc. now owns 1,658 shares of the credit-card processor’s stock valued at $435,000 after buying an additional 1,558 shares during the period. Riversedge Advisors LLC lifted its holdings in Visa by 5.2% in the 2nd quarter. Riversedge Advisors LLC now owns 1,247 shares of the credit-card processor’s stock worth $327,000 after buying an additional 62 shares in the last quarter. Whitaker Myers Wealth Managers LTD. lifted its holdings in Visa by 16.6% in the 2nd quarter. Whitaker Myers Wealth Managers LTD. now owns 1,388 shares of the credit-card processor’s stock worth $364,000 after buying an additional 198 shares in the last quarter. Trajan Wealth LLC lifted its holdings in Visa by 6.2% in the 2nd quarter. Trajan Wealth LLC now owns 64,962 shares of the credit-card processor’s stock worth $17,051,000 after buying an additional 3,770 shares in the last quarter. Finally, Sterling Investment Management LLC lifted its holdings in Visa by 53.5% in the 2nd quarter. Sterling Investment Management LLC now owns 8,068 shares of the credit-card processor’s stock worth $2,118,000 after buying an additional 2,812 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Down 0.6 %

V stock opened at $269.19 on Thursday. 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 company has a market cap of $490.55 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 1.89 and a beta of 0.95. The company has a 50 day moving average of $265.81 and a two-hundred day moving average of $273.14.

Visa (NYSE:V) last announced 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. 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 prior year, the business posted $2.16 EPS. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities analysts anticipate that Visa Inc. will post 9.91 earnings per share 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. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.77%. Visa’s payout ratio is presently 23.24%.

Analysts Set New Price Targets

A number of equities analysts have commented on V shares. Macquarie reiterated an “outperform” rating and issued a $300.00 price objective on shares of Visa in a report on Wednesday, July 24th. Evercore ISI cut their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. TD Cowen cut their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Bank of America reaffirmed a “neutral” rating and set a $297.00 price objective (down previously from $305.00) on shares of Visa in a research report on Wednesday, July 10th. Finally, Citigroup lowered their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $308.50.

Visa Company 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.