Visa Inc. (NYSE:V) Shares Sold by IMA Advisory Services Inc.

IMA Advisory Services Inc. cut its stake in Visa Inc. (NYSE:V) by 1.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,944 shares of the credit-card processor’s stock after selling 137 shares during the period. IMA Advisory Services Inc.’s holdings in Visa were worth $3,135,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of V. Proficio Capital Partners LLC boosted its position in shares of Visa by 1.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 26,496 shares of the credit-card processor’s stock valued at $6,954,000 after purchasing an additional 458 shares during the period. First Heartland Consultants Inc. raised its stake in shares of Visa by 1.4% during the 2nd quarter. First Heartland Consultants Inc. now owns 8,791 shares of the credit-card processor’s stock worth $2,307,000 after buying an additional 124 shares in the last quarter. Raymond James Trust N.A. raised its stake in shares of Visa by 0.9% during the 2nd quarter. Raymond James Trust N.A. now owns 153,682 shares of the credit-card processor’s stock worth $40,337,000 after buying an additional 1,398 shares in the last quarter. Wedgewood Investors Inc. PA acquired a new stake in shares of Visa in the 2nd quarter worth approximately $975,000. Finally, WD Rutherford LLC grew its holdings in shares of Visa by 0.8% in the 2nd quarter. WD Rutherford LLC now owns 15,629 shares of the credit-card processor’s stock worth $4,102,000 after acquiring an additional 130 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Mizuho increased their target price on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Citigroup cut their price objective on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Jefferies Financial Group dropped their target price on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Bank of America reiterated a “neutral” rating and issued a $297.00 price target (down from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $308.50.

Visa Stock Up 0.7 %

Shares of NYSE:V traded up $1.75 during midday trading on Monday, reaching $269.19. The company’s stock had a trading volume of 1,937,215 shares, compared to its average volume of 7,146,331. The firm has a 50 day moving average of $265.93 and a 200-day moving average of $273.23. The firm has a market capitalization of $492.33 billion, a P/E ratio of 30.17, a PEG ratio of 1.89 and a beta of 0.95. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $290.96.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the prior year, the business earned $2.16 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, research analysts anticipate that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s dividend payout ratio (DPR) is currently 23.24%.

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.