Phoenix Wealth Advisors Boosts Position in Visa Inc. (NYSE:V)

Phoenix Wealth Advisors increased its holdings in shares of Visa Inc. (NYSE:V) by 37.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,132 shares of the credit-card processor’s stock after acquiring an additional 307 shares during the quarter. Phoenix Wealth Advisors’ holdings in Visa were worth $297,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Visa by 0.6% in the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after buying an additional 788,908 shares during the last quarter. Capital International Investors increased its holdings in shares of Visa by 2.7% in the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after purchasing an additional 626,618 shares during the period. Capital World Investors increased its holdings in shares of Visa by 5.4% in the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after purchasing an additional 968,008 shares during the period. Norges Bank purchased a new stake in shares of Visa during the fourth quarter worth approximately $3,895,015,000. Finally, Jennison Associates LLC raised its stake in shares of Visa by 0.7% during the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock worth $3,078,408,000 after purchasing an additional 85,123 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of V traded up $5.67 during trading hours on Thursday, reaching $266.81. 7,397,535 shares of the company traded hands, compared to its average volume of 7,241,343. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $486.21 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 1.83 and a beta of 0.95. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The stock has a fifty day simple moving average of $266.84 and a 200 day simple moving average of $273.69.

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

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s payout ratio is 23.24%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on V shares. Royal Bank of Canada cut their price target on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Oppenheimer upped their price target on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. cut their price target on Visa from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Citigroup cut their price target on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Wedbush upped their price target on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Six 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. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $307.25.

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.