Sky Investment Group LLC Buys 302 Shares of Visa Inc. (NYSE:V)

Sky Investment Group LLC grew its stake in Visa Inc. (NYSE:V) by 4.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,702 shares of the credit-card processor’s stock after acquiring an additional 302 shares during the quarter. Sky Investment Group LLC’s holdings in Visa were worth $1,759,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Visa during the fourth quarter worth about $3,895,015,000. National Bank of Canada FI raised its holdings in Visa by 787.1% during the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after buying an additional 4,099,122 shares during the period. Swedbank AB bought a new position in Visa in the first quarter valued at approximately $511,321,000. GQG Partners LLC boosted its holdings in shares of Visa by 40.1% in the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after buying an additional 1,715,686 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its position in shares of Visa by 14,306.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock worth $390,595,000 after acquiring an additional 1,489,856 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

Shares of NYSE:V traded up $0.95 during trading on Wednesday, hitting $261.08. 8,552,058 shares of the company were exchanged, compared to its average volume of 7,239,547. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $290.96. The company has a market capitalization of $475.77 billion, a P/E ratio of 29.17, a price-to-earnings-growth ratio of 1.83 and a beta of 0.95. 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 50 day moving average is $266.84 and its 200-day moving average is $273.69.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. The business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $2.16 EPS. Equities analysts forecast that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Announces Dividend

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 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on V. Citigroup decreased their price objective on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Robert W. Baird lifted their price objective on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Bank of America restated a “neutral” rating and set a $297.00 target price (down previously from $305.00) on shares of Visa in a report on Wednesday, July 10th. Mizuho raised their target price on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Six investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $307.25.

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.