IMS Capital Management Acquires 116 Shares of Visa Inc. (NYSE:V)

IMS Capital Management lifted its holdings in shares of Visa Inc. (NYSE:V) by 1.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,693 shares of the credit-card processor’s stock after purchasing an additional 116 shares during the quarter. Visa makes up about 1.4% of IMS Capital Management’s holdings, making the stock its 14th biggest position. IMS Capital Management’s holdings in Visa were worth $2,984,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Jackson Wealth Management LLC lifted its position in Visa by 9.2% during the 1st quarter. Jackson Wealth Management LLC now owns 14,166 shares of the credit-card processor’s stock worth $3,953,000 after acquiring an additional 1,196 shares during the last quarter. OMC Financial Services LTD bought a new position in Visa during the first quarter worth $15,664,000. EverSource Wealth Advisors LLC boosted its holdings in Visa by 0.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 12,346 shares of the credit-card processor’s stock valued at $3,316,000 after purchasing an additional 67 shares during the period. Clear Rock Advisors LLC grew its position in Visa by 1.4% in the 1st quarter. Clear Rock Advisors LLC now owns 12,608 shares of the credit-card processor’s stock worth $3,519,000 after purchasing an additional 176 shares during the last quarter. Finally, Objective Capital Management LLC acquired a new position in shares of Visa during the first quarter valued at about $273,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Visa Stock Performance

NYSE V traded up $0.65 during trading on Friday, reaching $266.58. 7,017,857 shares of the company’s stock were exchanged, compared to its average volume of 7,476,283. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The stock has a market capitalization of $487.56 billion, a P/E ratio of 29.79, a PEG ratio of 1.88 and a beta of 0.95. The business has a 50 day moving average price of $268.91 and a 200-day moving average price of $274.31. 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. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the previous year, the firm posted $2.16 EPS. Visa’s revenue was up 9.6% compared to the same quarter last year. Sell-side analysts forecast that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be given 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 payout ratio is 23.24%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Visa from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Wedbush upped their price target on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Bank of America reissued a “neutral” rating and set a $297.00 price objective (down from $305.00) on shares of Visa in a report on Wednesday, July 10th. Mizuho upped their target price on shares of Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, StockNews.com downgraded shares of Visa from a “buy” rating to a “hold” rating in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $307.25.

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.