Lido Advisors LLC increased its holdings in Visa Inc (NYSE:V) by 40.4% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 17,541 shares of the credit-card processor’s stock after buying an additional 5,050 shares during the quarter. Lido Advisors LLC’s holdings in Visa were worth $2,323,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cascade Investment Advisors Inc. purchased a new position in Visa in the second quarter worth about $132,000. Signature Estate & Investment Advisors LLC boosted its position in Visa by 36.8% in the second quarter. Signature Estate & Investment Advisors LLC now owns 1,357 shares of the credit-card processor’s stock worth $180,000 after purchasing an additional 365 shares during the last quarter. Quad Cities Investment Group LLC purchased a new position in Visa in the second quarter worth about $186,000. Landaas & Co. WI ADV purchased a new position in Visa in the second quarter worth about $189,000. Finally, Kiley Juergens Wealth Management LLC purchased a new position in Visa in the second quarter worth about $191,000. Institutional investors own 80.41% of the company’s stock.
NYSE V opened at $139.78 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.69 and a current ratio of 1.61. Visa Inc has a 12 month low of $106.60 and a 12 month high of $151.56. The company has a market capitalization of $284.35 billion, a P/E ratio of 30.32, a price-to-earnings-growth ratio of 1.52 and a beta of 1.11.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Investors of record on Friday, November 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This is a boost from Visa’s previous quarterly dividend of $0.21. This represents a $1.00 dividend on an annualized basis and a yield of 0.72%. Visa’s payout ratio is currently 18.22%.
In related news, SVP James H. Hoffmeister sold 6,912 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $140.01, for a total value of $967,749.12. Following the transaction, the senior vice president now directly owns 6,912 shares of the company’s stock, valued at approximately $967,749.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Vasant M. Prabhu sold 25,064 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $140.56, for a total value of $3,522,995.84. Following the completion of the transaction, the chief financial officer now directly owns 58,232 shares in the company, valued at $8,185,089.92. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.
Several research analysts have issued reports on the company. Credit Suisse Group raised their target price on Visa from $150.00 to $164.00 and gave the stock an “outperform” rating in a research report on Monday, October 8th. KeyCorp raised their target price on Visa from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, July 26th. Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. JPMorgan Chase & Co. reissued a “buy” rating and issued a $166.00 target price on shares of Visa in a research report on Thursday, October 25th. Finally, Bank of America raised their target price on Visa from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, July 17th. Two research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $155.47.
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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