Ruggie Capital Group Holds Stake in Visa Inc. (V)
Ruggie Capital Group continued to hold its stake in shares of Visa Inc. (NYSE:V) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,282 shares of the credit-card processor’s stock at the close of the second quarter. Ruggie Capital Group’s holdings in Visa were worth $120,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Mercer Capital Advisers Inc. raised its stake in shares of Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after purchasing an additional 25 shares during the last quarter. Mascoma Wealth Management LLC purchased a new stake in shares of Visa in the second quarter worth approximately $122,000. SpiderRock Advisors LLC raised its stake in shares of Visa by 107.1% in the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock worth $124,000 after purchasing an additional 19,709 shares during the last quarter. Advantage Investment Management LLC raised its stake in shares of Visa by 27.4% in the first quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock worth $130,000 after purchasing an additional 314 shares during the last quarter. Finally, Delta Asset Management LLC TN raised its stake in shares of Visa by 11.7% in the second quarter. Delta Asset Management LLC TN now owns 1,721 shares of the credit-card processor’s stock worth $161,000 after purchasing an additional 180 shares during the last quarter. Institutional investors and hedge funds own 81.65% of the company’s stock.
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In related news, EVP Tullier Kelly Mahon sold 29,772 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total value of $3,004,292.52. Following the completion of the transaction, the executive vice president now owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mary B. Cranston sold 10,400 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total transaction of $1,074,528.00. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
Shares of Visa Inc. (V) opened at 107.02 on Friday. Visa Inc. has a 1-year low of $75.17 and a 1-year high of $109.26. The company’s 50-day moving average price is $105.64 and its 200 day moving average price is $98.12. The company has a market cap of $244.69 billion, a price-to-earnings ratio of 39.80 and a beta of 0.93.
Visa (NYSE:V) last issued its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.36 billion. Visa had a net margin of 36.53% and a return on equity of 30.95%. Visa’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 EPS. On average, analysts predict that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Friday, November 17th will be issued a $0.195 dividend. The ex-dividend date is Thursday, November 16th. This represents a $0.78 annualized dividend and a yield of 0.73%. This is an increase from Visa’s previous quarterly dividend of $0.17. Visa’s dividend payout ratio is currently 24.54%.
Several analysts have recently commented on the company. Vetr raised Visa from a “hold” rating to a “buy” rating and set a $100.12 price objective for the company in a research note on Tuesday, June 27th. Instinet increased their price objective on Visa from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Wells Fargo & Company reissued a “market perform” rating and issued a $100.00 price objective (up from $87.50) on shares of Visa in a research note on Saturday, July 22nd. Citigroup Inc. reissued a “buy” rating and issued a $115.00 price objective (up from $100.00) on shares of Visa in a research note on Monday, July 24th. Finally, Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $111.50.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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