Verdence Capital Advisors LLC Purchases 1,102 Shares of Visa Inc. (NYSE:V)

Verdence Capital Advisors LLC boosted its position in shares of Visa Inc. (NYSE:V) by 2.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 43,025 shares of the credit-card processor’s stock after acquiring an additional 1,102 shares during the quarter. Visa makes up about 1.0% of Verdence Capital Advisors LLC’s portfolio, making the stock its 16th biggest position. Verdence Capital Advisors LLC’s holdings in Visa were worth $11,293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in V. GUNN & Co INVESTMENT MANAGEMENT INC. raised its position in Visa by 1,215.7% during the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 168,786 shares of the credit-card processor’s stock valued at $43,943,000 after purchasing an additional 155,957 shares in the last quarter. Roffman Miller Associates Inc. PA lifted its stake in Visa by 0.9% in the fourth quarter. Roffman Miller Associates Inc. PA now owns 119,296 shares of the credit-card processor’s stock worth $31,059,000 after acquiring an additional 1,048 shares during the period. Cross Staff Investments Inc increased its position in Visa by 4.6% during the 4th quarter. Cross Staff Investments Inc now owns 5,868 shares of the credit-card processor’s stock valued at $1,528,000 after purchasing an additional 258 shares during the period. Syon Capital LLC increased its position in Visa by 23.2% during the 4th quarter. Syon Capital LLC now owns 16,486 shares of the credit-card processor’s stock valued at $4,292,000 after purchasing an additional 3,103 shares during the period. Finally, Stevens Capital Management LP bought a new stake in shares of Visa in the 4th quarter valued at about $10,863,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on V shares. Jefferies Financial Group reduced their price target on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Bank of America restated a “neutral” rating and issued a $297.00 price target (down from $305.00) on shares of Visa in a report on Wednesday, July 10th. Morgan Stanley reduced their price objective on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Royal Bank of Canada cut their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Finally, 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 report on Tuesday, June 25th. Six investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $308.50.

Visa Stock Performance

Shares of V stock traded up $0.78 during mid-day trading on Monday, hitting $268.22. 4,611,405 shares of the stock were exchanged, compared to its average volume of 7,163,017. The stock’s fifty day simple moving average is $265.93 and its two-hundred day simple moving average is $273.23. The stock has a market capitalization of $490.56 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 1.89 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. 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 data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (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 company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same period last year, the firm posted $2.16 EPS. Visa’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts forecast that Visa Inc. will post 9.91 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed 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. This represents a $2.08 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Friday, August 9th. Visa’s dividend payout ratio (DPR) is 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.