Raymond James Financial Services Advisors Inc. Increases Position in Visa Inc. (NYSE:V)

Raymond James Financial Services Advisors Inc. lifted its holdings in Visa Inc. (NYSE:V) by 3.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,652,835 shares of the credit-card processor’s stock after purchasing an additional 52,861 shares during the period. Visa comprises about 0.6% of Raymond James Financial Services Advisors Inc.’s portfolio, making the stock its 27th largest holding. Raymond James Financial Services Advisors Inc. owned 0.09% of Visa worth $433,820,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of V. Westend Capital Management LLC acquired a new stake in Visa in the 1st quarter worth about $25,000. Livelsberger Financial Advisory acquired a new position in shares of Visa during the 4th quarter worth approximately $25,000. Frank Rimerman Advisors LLC acquired a new position in shares of Visa during the 4th quarter worth approximately $33,000. TruNorth Capital Management LLC boosted its holdings in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Finally, Abich Financial Wealth Management LLC boosted its holdings in shares of Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after purchasing an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on V shares. Citigroup lowered their target price on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. TD Cowen decreased their price objective on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Evercore ISI decreased their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Mizuho upped their price objective on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Finally, Wedbush upped their price objective on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $307.25.

Visa Stock Performance

Shares of V stock traded down $0.91 during mid-day trading on Monday, hitting $266.47. 6,517,520 shares of the stock were exchanged, compared to its average volume of 7,223,632. The stock’s fifty day simple moving average is $266.24 and its two-hundred day simple moving average is $273.50. The stock has a market capitalization of $487.36 billion, a price-to-earnings ratio of 29.77, a P/E/G ratio of 1.84 and a beta of 0.95. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $290.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

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

Visa Announces Dividend

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

Visa Company 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.