Flagship Harbor Advisors LLC Boosts Position in Visa Inc. (V)
Flagship Harbor Advisors LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 3.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,721 shares of the credit-card processor’s stock after purchasing an additional 809 shares during the quarter. Visa accounts for 0.9% of Flagship Harbor Advisors LLC’s holdings, making the stock its 21st biggest position. Flagship Harbor Advisors LLC’s holdings in Visa were worth $2,642,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Motco grew its stake in shares of Visa by 25.1% during the 2nd quarter. Motco now owns 1,176 shares of the credit-card processor’s stock worth $110,000 after acquiring an additional 236 shares in the last quarter. BDO Wealth Advisors LLC bought a new position in shares of Visa during the 2nd quarter worth approximately $115,000. Mascoma Wealth Management LLC bought a new position in shares of Visa during the 2nd quarter worth approximately $122,000. SpiderRock Advisors LLC grew its stake in shares of Visa by 107.1% during the 2nd quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock worth $124,000 after acquiring an additional 19,709 shares in the last quarter. Finally, Advantage Investment Management LLC grew its stake in shares of Visa by 27.4% during the 1st quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock worth $130,000 after acquiring an additional 314 shares in the last quarter. 82.09% of the stock is owned by institutional investors and hedge funds.
Shares of Visa Inc. (NYSE V) traded up $1.13 during trading on Friday, reaching $111.97. The company’s stock had a trading volume of 3,050,000 shares, compared to its average volume of 5,440,807. Visa Inc. has a fifty-two week low of $75.17 and a fifty-two week high of $112.90. The firm has a market cap of $232,449.72, a P/E ratio of 32.18, a price-to-earnings-growth ratio of 1.64 and a beta of 0.97. The company has a quick ratio of 1.65, a current ratio of 1.90 and a debt-to-equity ratio of 0.61.
Visa (NYSE:V) last announced its quarterly earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.05. Visa had a return on equity of 31.80% and a net margin of 36.49%. The business had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter last year, the firm posted $0.78 EPS. The company’s quarterly revenue was up 13.9% on a year-over-year basis. sell-side analysts expect that Visa Inc. will post 4.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Friday, November 17th will be issued a dividend of $0.195 per share. This is an increase from Visa’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $0.78 annualized dividend and a yield of 0.70%. Visa’s dividend payout ratio (DPR) is currently 27.86%.
Several research firms recently weighed in on V. Wells Fargo & Company raised shares of Visa from a “market perform” rating to an “outperform” rating and raised their target price for the company from $107.01 to $120.00 in a research note on Tuesday, October 10th. Zacks Investment Research cut shares of Visa from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Cantor Fitzgerald began coverage on shares of Visa in a research note on Thursday, September 28th. They issued an “overweight” rating and a $120.00 target price for the company. KeyCorp reissued a “buy” rating and issued a $110.00 target price on shares of Visa in a research note on Friday, August 25th. Finally, Buckingham Research raised their target price on shares of Visa from $129.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Three research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $116.08.
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Visa Company Profile
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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