Visa Inc (NYSE:V) Stock Position Boosted by Ropes Wealth Advisors LLC
Ropes Wealth Advisors LLC boosted its stake in Visa Inc (NYSE:V) by 1.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,100 shares of the credit-card processor’s stock after buying an additional 301 shares during the period. Visa accounts for 0.7% of Ropes Wealth Advisors LLC’s portfolio, making the stock its 29th biggest holding. Ropes Wealth Advisors LLC’s holdings in Visa were worth $3,488,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Lowe Wealth Advisors LLC boosted its position in shares of Visa by 114.7% during the 2nd quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 86 shares in the last quarter. Personal Wealth Partners purchased a new stake in Visa during the second quarter valued at about $30,000. Mcmillion Capital Management Inc. purchased a new stake in Visa during the second quarter valued at about $38,000. Hexavest Inc. purchased a new stake in Visa during the second quarter valued at about $40,000. Finally, Essex Investment Management Co. LLC purchased a new stake in Visa during the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 81.63% of the company’s stock.
In other news, Director Denise M. Morrison acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were purchased at an average price of $171.13 per share, for a total transaction of $171,130.00. Following the completion of the acquisition, the director now owns 3,223 shares of the company’s stock, valued at approximately $551,551.99. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 in the company, valued at approximately $630,783.96. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.
NYSE V opened at $174.30 on Thursday. The stock has a 50 day moving average of $177.99. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $349.84 billion, a price-to-earnings ratio of 37.81, a price-to-earnings-growth ratio of 1.97 and a beta of 0.96. Visa Inc has a 52-week low of $121.60 and a 52-week high of $184.07.
Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.04. The business had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.70 billion. Visa had a net margin of 53.43% and a return on equity of 41.04%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share. As a group, equities research analysts predict that Visa Inc will post 5.4 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Thursday, August 15th. Visa’s dividend payout ratio (DPR) is 21.69%.
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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