Buckingham Capital Management Inc. Has $12.56 Million Position in Visa Inc. (NYSE:V)

Buckingham Capital Management Inc. reduced its position in shares of Visa Inc. (NYSE:V) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,885 shares of the credit-card processor’s stock after selling 632 shares during the period. Visa makes up about 1.9% of Buckingham Capital Management Inc.’s portfolio, making the stock its 16th biggest holding. Buckingham Capital Management Inc.’s holdings in Visa were worth $12,559,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Financial Freedom LLC bought a new position in Visa during the 4th quarter worth $32,000. Ridgewood Investments LLC bought a new position in Visa during the 1st quarter worth $35,000. Kalos Management Inc. bought a new position in Visa during the 1st quarter worth $40,000. NewSquare Capital LLC increased its stake in Visa by 121.9% during the 1st quarter. NewSquare Capital LLC now owns 213 shares of the credit-card processor’s stock worth $48,000 after acquiring an additional 117 shares during the period. Finally, Moisand Fitzgerald Tamayo LLC increased its stake in Visa by 666.7% during the 1st quarter. Moisand Fitzgerald Tamayo LLC now owns 230 shares of the credit-card processor’s stock worth $52,000 after acquiring an additional 200 shares during the period. 81.35% of the stock is owned by institutional investors and hedge funds.

Visa Stock Up 1.5 %

Shares of V opened at $244.64 on Tuesday. The company has a market capitalization of $455.48 billion, a PE ratio of 31.05, a PEG ratio of 1.81 and a beta of 0.95. Visa Inc. has a 12 month low of $174.60 and a 12 month high of $250.06. The stock’s 50-day moving average price is $241.67 and its two-hundred day moving average price is $232.37. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 EPS for the quarter, topping the consensus estimate of $2.11 by $0.05. The firm had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $8.06 billion. Visa had a return on equity of 49.42% and a net margin of 51.94%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.98 EPS. On average, analysts anticipate that Visa Inc. will post 8.65 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.74%. The ex-dividend date was Thursday, August 10th. Visa’s payout ratio is presently 22.84%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on V shares. JPMorgan Chase & Co. raised their price objective on Visa from $265.00 to $296.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 22nd. Barclays lifted their price target on Visa from $272.00 to $287.00 and gave the company an “overweight” rating in a research note on Monday, July 24th. Robert W. Baird reiterated an “outperform” rating and issued a $284.00 price target on shares of Visa in a research note on Thursday, September 14th. Raymond James lifted their price target on Visa from $282.00 to $284.00 and gave the company an “outperform” rating in a research note on Wednesday, July 26th. Finally, Citigroup lifted their price target on Visa from $273.00 to $275.00 in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $273.77.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 24,025 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total value of $5,766,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Visa news, insider Rajat Taneja sold 2,300 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total transaction of $552,000.00. Following the completion of the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $55,706,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 24,025 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total value of $5,766,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,550 shares of company stock valued at $19,795,806. 0.21% of the stock is currently owned by company insiders.

Visa Company Profile

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.