Hodges Capital Management Inc. Has $1.50 Million Stock Position in Visa Inc. (NYSE:V)

Hodges Capital Management Inc. boosted its holdings in shares of Visa Inc. (NYSE:V) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,712 shares of the credit-card processor’s stock after buying an additional 115 shares during the quarter. Hodges Capital Management Inc.’s holdings in Visa were worth $1,499,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Livelsberger Financial Advisory bought a new stake in shares of Visa during the 4th quarter worth about $25,000. Westend Capital Management LLC bought a new stake in shares of Visa during the first quarter worth approximately $25,000. POM Investment Strategies LLC grew its position in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Visa during the fourth quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC lifted its holdings in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, 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 SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on V. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research report on Tuesday. Morgan Stanley lowered their price target on shares of Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Macquarie reissued an “outperform” rating and issued a $300.00 price objective on shares of Visa in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, Bank of America reiterated a “neutral” rating and issued a $297.00 price target (down from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $309.54.

Visa Trading Up 0.7 %

NYSE V opened at $280.46 on Thursday. The company has a market cap of $512.94 billion, a price-to-earnings ratio of 31.34, a price-to-earnings-growth ratio of 1.95 and a beta of 0.95. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The business’s fifty day moving average is $265.94 and its 200 day moving average is $273.10.

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. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same period last year, the firm posted $2.16 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, sell-side analysts expect that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

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

Visa Company 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.