Narwhal Capital Management Has $9.24 Million Holdings in Visa Inc. (NYSE:V)

Narwhal Capital Management lifted its stake in Visa Inc. (NYSE:V) by 20.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,184 shares of the credit-card processor’s stock after purchasing an additional 5,972 shares during the quarter. Narwhal Capital Management’s holdings in Visa were worth $9,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in V. Vanguard Group Inc. increased its position in Visa by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after purchasing an additional 788,908 shares during the last quarter. Capital International Investors grew its stake in shares of Visa by 2.7% in the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after buying an additional 626,618 shares in the last quarter. Capital World Investors increased its holdings in Visa by 5.4% in the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after buying an additional 968,008 shares during the last quarter. Norges Bank acquired a new position in Visa in the fourth quarter worth approximately $3,895,015,000. Finally, Fisher Asset Management LLC raised its position in Visa by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 8,900,179 shares of the credit-card processor’s stock valued at $2,317,162,000 after acquiring an additional 166,767 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

V has been the subject of several recent research reports. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. upped their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Jefferies Financial Group cut their target price on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Royal Bank of Canada decreased 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. Finally, Bank of America reiterated a “neutral” rating and issued a $297.00 target price (down from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $309.54.

Visa Stock Performance

Shares of NYSE:V opened at $279.48 on Friday. The stock has a market capitalization of $509.30 billion, a price-to-earnings ratio of 31.23, a price-to-earnings-growth ratio of 1.98 and a beta of 0.96. The business’s fifty day moving average price is $266.53 and its two-hundred day moving average price is $273.14. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. The business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.16 EPS. As a group, analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.74%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

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.