Visa Inc. (NYSE:V) is Benin Management CORP’s 4th Largest Position

Benin Management CORP lowered its holdings in Visa Inc. (NYSE:V) by 3.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,476 shares of the credit-card processor’s stock after selling 1,535 shares during the quarter. Visa accounts for 3.9% of Benin Management CORP’s holdings, making the stock its 4th largest holding. Benin Management CORP’s holdings in Visa were worth $12,723,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Westend Capital Management LLC acquired a new stake in shares of Visa in the first quarter valued at $25,000. Livelsberger Financial Advisory purchased a new position in shares of Visa in the fourth quarter valued at approximately $25,000. Frank Rimerman Advisors LLC acquired a new position in shares of Visa in the fourth quarter valued at approximately $33,000. TruNorth Capital Management LLC increased its stake in 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 buying an additional 89 shares during the period. Finally, Abich Financial Wealth Management LLC lifted its holdings in 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 buying an additional 46 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Performance

NYSE:V traded down $0.39 during midday trading on Thursday, reaching $267.81. The stock had a trading volume of 2,512,538 shares, compared to its average volume of 7,188,356. 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 cap of $489.81 billion, a P/E ratio of 29.93, a P/E/G ratio of 1.89 and a beta of 0.95. The firm has a fifty day simple moving average of $266.06 and a two-hundred day simple moving average of $273.40. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $290.96.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting 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 net margin of 54.72% and a return on equity of 51.94%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.16 earnings per share. On average, equities analysts expect that Visa Inc. will post 9.91 EPS for the current year.

Visa Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on V shares. Citigroup decreased their price objective on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Macquarie reiterated an “outperform” rating and set a $300.00 price target on shares of Visa in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday. Evercore ISI lowered their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Finally, TD Cowen decreased their price target on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Six investment 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, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $308.50.

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.