Klingman & Associates LLC Boosts Holdings in Visa Inc. (NYSE:V)

Klingman & Associates LLC grew its position in shares of Visa Inc. (NYSE:V) by 2.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,817 shares of the credit-card processor’s stock after purchasing an additional 100 shares during the period. Klingman & Associates LLC’s holdings in Visa were worth $1,002,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Westend Capital Management LLC acquired a new position in Visa in the first quarter worth $25,000. Livelsberger Financial Advisory acquired a new position in Visa in the fourth quarter worth $25,000. POM Investment Strategies LLC boosted its holdings in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. Frank Rimerman Advisors LLC acquired a new position in Visa in the fourth quarter worth $33,000. Finally, TruNorth Capital Management LLC boosted its holdings in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. TD Cowen reduced their target price on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Royal Bank of Canada lowered their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Evercore ISI dropped their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, Citigroup dropped their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Six equities 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $308.50.

Visa Trading Up 0.7 %

NYSE:V traded up $2.05 during trading hours on Friday, hitting $276.37. The stock had a trading volume of 6,296,089 shares, compared to its average volume of 7,134,793. Visa Inc. has a one year low of $227.78 and a one year high of $290.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market cap of $505.46 billion, a price-to-earnings ratio of 30.88, a P/E/G ratio of 1.89 and a beta of 0.95. The business’s 50 day moving average is $265.70 and its 200-day moving average is $273.13.

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 during the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the prior year, the firm earned $2.16 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.75%. The ex-dividend date is Friday, August 9th. Visa’s payout ratio 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.