Visa Inc. (NYSE:V) Position Boosted by Northeast Financial Group Inc.

Northeast Financial Group Inc. lifted its stake in shares of Visa Inc. (NYSE:V) by 49.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,466 shares of the credit-card processor’s stock after purchasing an additional 2,473 shares during the quarter. Visa comprises 0.8% of Northeast Financial Group Inc.’s portfolio, making the stock its 25th largest position. Northeast Financial Group Inc.’s holdings in Visa were worth $1,960,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Visa in the 4th quarter worth approximately $3,895,015,000. National Bank of Canada FI boosted its holdings in shares of Visa by 787.1% during the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after buying an additional 4,099,122 shares during the period. Swedbank AB bought a new position in shares of Visa in the first quarter worth about $511,321,000. GQG Partners LLC increased its position in Visa by 40.1% during the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after acquiring an additional 1,715,686 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its holdings in shares of Visa by 14,306.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock worth $390,595,000 after purchasing an additional 1,489,856 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Performance

Shares of V stock traded up $0.13 during mid-day trading on Monday, reaching $259.89. The stock had a trading volume of 26,737,963 shares, compared to its average volume of 7,200,879. The firm has a market cap of $473.60 billion, a price-to-earnings ratio of 29.11, a PEG ratio of 1.83 and a beta of 0.95. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $290.96. The business’s fifty day moving average is $267.56 and its 200-day moving average is $273.92. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last issued 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 company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.16 earnings per share. On average, research analysts forecast that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.80%. Visa’s dividend payout ratio (DPR) is 23.24%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on V shares. UBS Group lifted their price target on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. William Blair raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Wedbush raised their price target on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Citigroup reduced their target price 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. Finally, Robert W. Baird lifted their target price on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Six investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average price target of $307.25.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

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.