Visa Inc. (NYSE:V) Shares Purchased by Smith Salley Wealth Management

Smith Salley Wealth Management increased its position in shares of Visa Inc. (NYSE:V) by 6.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 106,180 shares of the credit-card processor’s stock after buying an additional 6,560 shares during the period. Visa accounts for 2.0% of Smith Salley Wealth Management’s holdings, making the stock its 10th biggest position. Smith Salley Wealth Management’s holdings in Visa were worth $27,869,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in V. GUNN & Co INVESTMENT MANAGEMENT INC. grew its stake in Visa by 1,215.7% in the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 168,786 shares of the credit-card processor’s stock valued at $43,943,000 after acquiring an additional 155,957 shares during the period. Brio Consultants LLC lifted its holdings in Visa by 39.1% during the fourth quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock valued at $405,000 after purchasing an additional 437 shares in the last quarter. Gilbert & Cook Inc. grew its position in shares of Visa by 2.9% in the fourth quarter. Gilbert & Cook Inc. now owns 5,629 shares of the credit-card processor’s stock valued at $1,466,000 after purchasing an additional 158 shares during the period. McAdam LLC increased its stake in shares of Visa by 63.9% during the fourth quarter. McAdam LLC now owns 3,870 shares of the credit-card processor’s stock worth $1,008,000 after purchasing an additional 1,509 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Visa by 3.1% during the 4th quarter. Van ECK Associates Corp now owns 316,758 shares of the credit-card processor’s stock worth $82,468,000 after purchasing an additional 9,618 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 0.7 %

Shares of V stock traded up $2.05 on Friday, reaching $276.37. 6,154,522 shares of the stock were exchanged, compared to its average volume of 7,134,793. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96. The company has a market capitalization of $505.46 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 1.89 and a beta of 0.95. The business’s 50 day moving average price is $265.67 and its 200 day moving average price is $273.12.

Visa (NYSE:V) last announced its 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 firm had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.16 EPS. As a group, sell-side analysts expect that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders 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 0.75%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Wall Street Analyst Weigh In

Several research firms have commented on V. Macquarie reiterated an “outperform” rating and set a $300.00 price objective on shares of Visa in a research note on Wednesday, July 24th. Citigroup dropped their price target on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Royal Bank of Canada decreased their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Bank of America reaffirmed a “neutral” rating and set a $297.00 target price (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Finally, Mizuho increased their target price on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $308.50.

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.