Meridian Management Co. Has $3.31 Million Stock Position in Visa Inc (NYSE:V)

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Meridian Management Co. boosted its holdings in shares of Visa Inc (NYSE:V) by 3.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,083 shares of the credit-card processor’s stock after buying an additional 626 shares during the period. Visa makes up about 1.5% of Meridian Management Co.’s holdings, making the stock its 20th biggest position. Meridian Management Co.’s holdings in Visa were worth $3,312,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Enterprise Financial Services Corp lifted its position in shares of Visa by 0.8% during the 2nd quarter. Enterprise Financial Services Corp now owns 7,649 shares of the credit-card processor’s stock worth $1,328,000 after purchasing an additional 59 shares during the last quarter. Radnor Capital Management LLC raised its holdings in Visa by 0.8% in the 2nd quarter. Radnor Capital Management LLC now owns 8,060 shares of the credit-card processor’s stock valued at $1,399,000 after acquiring an additional 60 shares in the last quarter. Peninsula Wealth LLC raised its holdings in Visa by 0.8% in the 2nd quarter. Peninsula Wealth LLC now owns 7,608 shares of the credit-card processor’s stock valued at $1,319,000 after acquiring an additional 61 shares in the last quarter. Convergence Investment Partners LLC raised its holdings in Visa by 1.7% in the 2nd quarter. Convergence Investment Partners LLC now owns 3,908 shares of the credit-card processor’s stock valued at $678,000 after acquiring an additional 66 shares in the last quarter. Finally, Hanson & Doremus Investment Management raised its holdings in Visa by 7.8% in the 2nd quarter. Hanson & Doremus Investment Management now owns 925 shares of the credit-card processor’s stock valued at $161,000 after acquiring an additional 67 shares in the last quarter. 81.34% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Lloyd Carney sold 3,500 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $182.73, for a total value of $639,555.00. Following the transaction, the director now directly owns 3,452 shares in the company, valued at approximately $630,783.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Denise M. Morrison purchased 1,000 shares of Visa stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $171.13 per share, for a total transaction of $171,130.00. Following the completion of the transaction, the director now directly owns 3,223 shares in the company, valued at $551,551.99. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

V traded down $2.14 during mid-day trading on Thursday, reaching $178.80. The stock had a trading volume of 141,248 shares, compared to its average volume of 7,556,845. The stock has a market capitalization of $356.59 billion, a P/E ratio of 38.93, a P/E/G ratio of 2.01 and a beta of 0.96. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.69 and a current ratio of 1.69. The firm’s fifty day simple moving average is $178.84 and its two-hundred day simple moving average is $163.18. Visa Inc has a 52 week low of $121.60 and a 52 week high of $184.07.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $1.37 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.04. The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.70 billion. Visa had a return on equity of 41.04% and a net margin of 53.43%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company earned $1.20 EPS. As a group, analysts expect that Visa Inc will post 5.4 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.56%. Visa’s payout ratio is 21.69%.

A number of equities analysts have recently issued reports on V shares. Robert W. Baird set a $196.00 target price on Visa and gave the stock a “buy” rating in a report on Friday, July 19th. Wells Fargo & Co increased their target price on Visa from $181.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. Bank of America increased their target price on Visa from $177.00 to $192.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Deutsche Bank increased their target price on Visa from $177.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Finally, BMO Capital Markets increased their target price on Visa to $214.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $195.46.

About Visa

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.

Further Reading: Equity Income

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Institutional Ownership by Quarter for Visa (NYSE:V)

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