Main Street Research LLC Buys 5,413 Shares of Visa Inc. (NYSE:V)

Main Street Research LLC increased its stake in Visa Inc. (NYSE:V) by 3.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 160,228 shares of the credit-card processor’s stock after acquiring an additional 5,413 shares during the quarter. Visa comprises 2.8% of Main Street Research LLC’s holdings, making the stock its 12th largest position. Main Street Research LLC’s holdings in Visa were worth $42,055,000 as of its most recent SEC filing.

Several other large 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 fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 168,786 shares of the credit-card processor’s stock worth $43,943,000 after purchasing an additional 155,957 shares in the last quarter. Brio Consultants LLC lifted its holdings in shares of Visa by 39.1% in the 4th quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock worth $405,000 after buying an additional 437 shares during the period. Gilbert & Cook Inc. lifted its holdings in shares of Visa by 2.9% in the 4th quarter. Gilbert & Cook Inc. now owns 5,629 shares of the credit-card processor’s stock worth $1,466,000 after buying an additional 158 shares during the period. Duff & Phelps Investment Management Co. increased its stake in shares of Visa by 0.3% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 17,812 shares of the credit-card processor’s stock valued at $4,637,000 after buying an additional 50 shares during the period. Finally, Cozad Asset Management Inc. raised its holdings in shares of Visa by 1.9% in the fourth quarter. Cozad Asset Management Inc. now owns 4,419 shares of the credit-card processor’s stock valued at $1,150,000 after acquiring an additional 84 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

V has been the topic of several recent research reports. Evercore ISI dropped their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Bank of America reiterated a “neutral” rating and set a $297.00 price objective (down from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Citigroup reduced their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Royal Bank of Canada dropped their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group reduced their price target on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $308.50.

Visa Stock Performance

Shares of V stock opened at $276.37 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The business has a fifty day moving average of $265.67 and a 200 day moving average of $273.12. The firm has a market capitalization of $505.46 billion, a price-to-earnings ratio of 30.88, a price-to-earnings-growth ratio of 1.89 and a beta of 0.95. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. During the same quarter in the previous year, the company posted $2.16 earnings per share. The company’s revenue was up 9.6% compared to the same quarter last year. As a group, research analysts expect that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Visa Profile

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.