Strategic Global Advisors LLC Invests $256,000 in Visa Inc (NYSE:V)
Strategic Global Advisors LLC purchased a new position in Visa Inc (NYSE:V) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,475 shares of the credit-card processor’s stock, valued at approximately $256,000.
A number of other hedge funds also recently bought and sold shares of the stock. Krane Funds Advisors LLC purchased a new stake in shares of Visa in the 2nd quarter worth approximately $26,000. Lowe Wealth Advisors LLC boosted its holdings in Visa by 114.7% in the second quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 86 shares in the last quarter. Personal Wealth Partners acquired a new stake in Visa in the second quarter worth about $30,000. Mcmillion Capital Management Inc. acquired a new position in shares of Visa during the second quarter valued at about $38,000. Finally, Hexavest Inc. acquired a new stake in Visa in the 2nd quarter worth approximately $40,000. 81.20% of the stock is currently owned by institutional investors.
NYSE:V traded down $1.85 during mid-day trading on Wednesday, hitting $174.50. The company’s stock had a trading volume of 6,002,080 shares, compared to its average volume of 5,549,568. The business’s fifty day moving average is $179.35 and its two-hundred day moving average is $166.94. The stock has a market cap of $360.18 billion, a price-to-earnings ratio of 37.85, a PEG ratio of 2.04 and a beta of 0.97. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.69. Visa Inc has a 1 year low of $121.60 and a 1 year high of $187.05.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Thursday, August 15th. Visa’s dividend payout ratio is currently 21.69%.
In related news, Director Denise M. Morrison bought 1,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average price of $171.13 per share, with a total value of $171,130.00. Following the completion of the purchase, the director now directly owns 3,223 shares of the company’s stock, valued at $551,551.99. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Vasant M. Prabhu sold 25,051 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.14, for a total transaction of $4,537,738.14. Following the completion of the transaction, the insider now directly owns 62,223 shares in the company, valued at $11,271,074.22. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.
V has been the topic of a number of recent analyst reports. Wedbush restated an “outperform” rating on shares of Visa in a research note on Wednesday, July 3rd. Guggenheim lifted their price objective on shares of Visa from $178.00 to $190.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. Citigroup boosted their price objective on shares of Visa from $185.00 to $206.00 and gave the company a “buy” rating in a report on Monday. UBS Group boosted their price objective on shares of Visa from $183.00 to $187.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Raymond James upped their target price on Visa from $177.00 to $193.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $196.57.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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