AdvisorNet Financial Inc reduced its position in shares of Visa Inc (NYSE:V) by 3.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,942 shares of the credit-card processor’s stock after selling 570 shares during the period. AdvisorNet Financial Inc’s holdings in Visa were worth $3,273,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC purchased a new position in Visa during the first quarter worth about $25,000. Cedar Mountain Advisors LLC boosted its stake in shares of Visa by 102.6% in the second quarter. Cedar Mountain Advisors LLC now owns 158 shares of the credit-card processor’s stock valued at $31,000 after purchasing an additional 80 shares during the period. Price Wealth LLC boosted its stake in shares of Visa by 90.0% in the second quarter. Price Wealth LLC now owns 190 shares of the credit-card processor’s stock valued at $37,000 after purchasing an additional 90 shares during the period. CVA Family Office LLC purchased a new position in shares of Visa in the first quarter valued at approximately $32,000. Finally, Centerpoint Advisors LLC purchased a new position in shares of Visa in the second quarter valued at approximately $43,000. 80.74% of the stock is owned by institutional investors.
Shares of Visa stock traded up $0.48 during trading on Tuesday, reaching $205.46. The company’s stock had a trading volume of 368,975 shares, compared to its average volume of 10,546,271. The company has a 50-day moving average price of $201.49 and a two-hundred day moving average price of $186.63. The firm has a market cap of $398.15 billion, a PE ratio of 39.21, a P/E/G ratio of 3.05 and a beta of 0.90. Visa Inc has a fifty-two week low of $133.93 and a fifty-two week high of $217.35. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.59.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were issued a $0.30 dividend. The ex-dividend date was Thursday, August 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.58%. Visa’s payout ratio is 22.06%.
V has been the subject of several recent research reports. Cowen raised their price objective on shares of Visa from $189.00 to $196.00 and gave the company an “outperform” rating in a research note on Wednesday, May 20th. Raymond James raised their price objective on shares of Visa from $204.00 to $217.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Goldman Sachs Group initiated coverage on shares of Visa in a research note on Tuesday, July 14th. They issued a “buy” rating and a $223.00 price objective for the company. Wedbush raised their price objective on shares of Visa from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Finally, Morgan Stanley lifted their price target on shares of Visa from $196.00 to $203.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Six analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $213.34.
In other Visa news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $191.49, for a total value of $1,340,430.00. Following the transaction, the chief executive officer now directly owns 133,090 shares of the company’s stock, valued at approximately $25,485,404.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rajat Taneja sold 45,036 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $214.00, for a total transaction of $9,637,704.00. Following the completion of the transaction, the insider now directly owns 230,851 shares in the company, valued at $49,402,114. The disclosure for this sale can be found here. Insiders sold a total of 118,122 shares of company stock worth $24,683,231 over the last ninety days. Corporate insiders own 0.19% of the company’s stock.
Visa Company Profile
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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