1620 Investment Advisors Inc. Purchases Shares of 281 Visa Inc. (NYSE:V)

1620 Investment Advisors Inc. acquired a new position in Visa Inc. (NYSE:V) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 281 shares of the credit-card processor’s stock, valued at approximately $74,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings 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 valued at $39,685,966,000 after purchasing an additional 788,908 shares in the last quarter. Capital International Investors grew its stake in shares of Visa by 2.7% in the first 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 raised its holdings in shares of Visa by 5.4% during the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after buying an additional 968,008 shares during the period. Norges Bank purchased a new stake in shares of Visa during the 4th quarter valued at about $3,895,015,000. Finally, Jennison Associates LLC lifted its position in Visa by 0.7% during the 4th quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock worth $3,078,408,000 after acquiring an additional 85,123 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on V. Citigroup cut their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Evercore ISI lowered their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. JPMorgan Chase & Co. upped their target price on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, 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 report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus price target of $308.50.

Visa Trading Down 0.1 %

Shares of NYSE:V opened at $267.94 on Friday. The company has a 50 day moving average of $265.99 and a 200-day moving average of $273.36. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market cap of $490.05 billion, a P/E ratio of 29.94, a P/E/G ratio of 1.89 and a beta of 0.95. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $8.92 billion. During the same quarter in the previous year, the business earned $2.16 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, analysts anticipate that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Announces Dividend

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

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.