HB Wealth Management LLC Buys 9,756 Shares of Visa Inc. (NYSE:V)

HB Wealth Management LLC grew its stake in Visa Inc. (NYSE:V) by 12.0% in the second quarter, HoldingsChannel.com reports. The fund owned 91,154 shares of the credit-card processor’s stock after acquiring an additional 9,756 shares during the period. HB Wealth Management LLC’s holdings in Visa were worth $23,925,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of V. Hilltop National Bank bought a new stake in shares of Visa in the first quarter worth about $1,212,000. TCI Wealth Advisors Inc. increased its position in shares of Visa by 0.8% during the fourth quarter. TCI Wealth Advisors Inc. now owns 5,107 shares of the credit-card processor’s stock worth $1,330,000 after acquiring an additional 40 shares in the last quarter. Absolute Capital Management LLC bought a new stake in Visa in the 1st quarter valued at $404,000. SageView Advisory Group LLC raised its stake in shares of Visa by 40.4% in the 4th quarter. SageView Advisory Group LLC now owns 25,137 shares of the credit-card processor’s stock valued at $6,967,000 after purchasing an additional 7,236 shares during the period. Finally, Davidson Capital Management Inc. lifted its holdings in shares of Visa by 0.5% in the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after purchasing an additional 44 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of NYSE:V traded up $3.92 on Thursday, hitting $273.11. The company had a trading volume of 752,954 shares, compared to its average volume of 7,111,006. The stock has a market cap of $497.69 billion, a price-to-earnings ratio of 30.08, a P/E/G ratio of 1.89 and a beta of 0.95. The stock has a 50 day moving average price of $265.81 and a 200 day moving average price of $273.14. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $290.96. 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 announced its quarterly earnings results 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 net margin of 54.72% and a return on equity of 51.94%. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.16 EPS. Analysts expect that Visa Inc. will post 9.91 EPS for the current year.

Visa Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Analysts Set New Price Targets

A number of research firms recently issued reports on V. Citigroup decreased their price objective on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. TD Cowen decreased their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Jefferies Financial Group cut their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Finally, Royal Bank of Canada lowered their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $308.50.

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.