Hartford Financial Management Inc. Has $2.09 Million Stake in Visa Inc (NYSE:V)

Hartford Financial Management Inc. lifted its holdings in shares of Visa Inc (NYSE:V) by 3.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 12,050 shares of the credit-card processor’s stock after acquiring an additional 423 shares during the period. Hartford Financial Management Inc.’s holdings in Visa were worth $2,091,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of V. Focused Wealth Management Inc raised its holdings in shares of Visa by 48.0% during the fourth quarter. Focused Wealth Management Inc now owns 524 shares of the credit-card processor’s stock valued at $69,000 after acquiring an additional 170 shares during the last quarter. Benchmark Financial Wealth Advisors LLC acquired a new position in shares of Visa during the fourth quarter valued at approximately $249,000. FUKOKU MUTUAL LIFE INSURANCE Co raised its holdings in shares of Visa by 18.8% during the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 34,720 shares of the credit-card processor’s stock valued at $4,581,000 after acquiring an additional 5,500 shares during the last quarter. First Manhattan Co. raised its holdings in shares of Visa by 35.3% during the fourth quarter. First Manhattan Co. now owns 368,224 shares of the credit-card processor’s stock valued at $48,583,000 after acquiring an additional 96,015 shares during the last quarter. Finally, YCG LLC raised its holdings in shares of Visa by 120.7% during the fourth quarter. YCG LLC now owns 26,330 shares of the credit-card processor’s stock valued at $3,474,000 after acquiring an additional 14,398 shares during the last quarter. Institutional investors own 81.63% of the company’s stock.

A number of equities analysts have commented on V shares. Jefferies Financial Group increased their target price on Visa from $190.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, July 18th. SunTrust Banks increased their price target on Visa to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Raymond James increased their price target on Visa from $177.00 to $193.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Credit Suisse Group increased their price target on Visa from $200.00 to $203.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. increased their price target on Visa from $166.00 to $182.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Visa presently has a consensus rating of “Buy” and a consensus price target of $195.46.

In other Visa news, Director Denise M. Morrison acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was bought at an average cost of $171.13 per share, for a total transaction of $171,130.00. Following the completion of the transaction, the director now owns 3,223 shares of the company’s stock, valued at approximately $551,551.99. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lloyd Carney sold 3,500 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $182.73, for a total value of $639,555.00. Following the completion of the transaction, the director now owns 3,452 shares of the company’s stock, valued at $630,783.96. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Visa stock traded up $1.96 during mid-day trading on Friday, hitting $178.23. The company’s stock had a trading volume of 8,179,400 shares, compared to its average volume of 7,288,542. The firm has a market capitalization of $344.23 billion, a PE ratio of 38.66, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. Visa Inc has a 1 year low of $121.60 and a 1 year high of $184.07. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.57. The stock’s fifty day moving average is $178.23 and its two-hundred day moving average is $162.51.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.04. The company had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.70 billion. Visa had a return on equity of 41.04% and a net margin of 53.43%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.20 earnings per share. On average, equities analysts expect that Visa Inc will post 5.4 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 16th will be given a $0.25 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 0.56%. Visa’s payout ratio is 21.69%.

Visa Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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