Hoylecohen LLC Sells 3,798 Shares of Visa Inc. (NYSE:V)

Hoylecohen LLC trimmed its position in Visa Inc. (NYSE:V) by 5.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,185 shares of the credit-card processor’s stock after selling 3,798 shares during the period. Visa accounts for 1.3% of Hoylecohen LLC’s investment portfolio, making the stock its 19th biggest position. Hoylecohen LLC’s holdings in Visa were worth $16,584,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Visa by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after buying an additional 788,908 shares in the last quarter. Capital International Investors increased 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 last quarter. Capital World Investors raised its position in Visa by 5.4% during 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 purchasing an additional 968,008 shares in the last quarter. Norges Bank bought a new stake in Visa during the fourth quarter worth about $3,895,015,000. Finally, Jennison Associates LLC boosted its holdings in shares of Visa by 0.7% in the 4th quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock worth $3,078,408,000 after purchasing an additional 85,123 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Up 0.2 %

Visa stock traded up $0.58 on Friday, hitting $267.38. 5,111,080 shares of the stock traded hands, compared to its average volume of 7,227,860. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96. The firm has a market cap of $489.02 billion, a P/E ratio of 29.87, a price-to-earnings-growth ratio of 1.84 and a beta of 0.95. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The business’s fifty day simple moving average is $266.41 and its 200 day simple moving average is $273.57.

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

Visa Announces Dividend

The business also recently declared 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 is Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.78%. Visa’s payout ratio is currently 23.24%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on V. Citigroup decreased their price objective on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Oppenheimer upped their price objective on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Piper Sandler lowered their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. JPMorgan Chase & Co. reduced their price objective on Visa from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Finally, Wedbush raised their price target on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Six equities 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $307.25.

About Visa

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.