Ballast Advisors LLC Has $1.31 Million Stock Position in Visa Inc (NYSE:V)
Ballast Advisors LLC grew its stake in shares of Visa Inc (NYSE:V) by 19.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,783 shares of the credit-card processor’s stock after purchasing an additional 1,092 shares during the quarter. Visa comprises about 0.9% of Ballast Advisors LLC’s portfolio, making the stock its 23rd biggest holding. Ballast Advisors LLC’s holdings in Visa were worth $1,310,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC bought a new position in shares of Visa during the 1st quarter worth approximately $25,000. Cedar Mountain Advisors LLC boosted its stake in shares of Visa by 102.6% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 158 shares of the credit-card processor’s stock worth $31,000 after acquiring an additional 80 shares during the period. AlphaMark Advisors LLC boosted its stake in shares of Visa by 57.8% during the 1st quarter. AlphaMark Advisors LLC now owns 172 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 63 shares during the period. Price Wealth LLC boosted its stake in shares of Visa by 90.0% during the 2nd quarter. Price Wealth LLC now owns 190 shares of the credit-card processor’s stock worth $37,000 after acquiring an additional 90 shares during the period. Finally, CVA Family Office LLC bought a new position in shares of Visa during the 1st quarter worth approximately $32,000. 81.41% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Rajat Taneja sold 3,279 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $202.02, for a total transaction of $662,423.58. Following the completion of the transaction, the insider now owns 221,282 shares of the company’s stock, valued at approximately $44,703,389.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $195.00, for a total value of $1,365,000.00. Following the transaction, the chief executive officer now directly owns 130,090 shares of the company’s stock, valued at approximately $25,367,550. The disclosure for this sale can be found here. Insiders have sold a total of 50,429 shares of company stock valued at $9,746,754 in the last three months. 0.19% of the stock is owned by insiders.
Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. Visa had a return on equity of 40.65% and a net margin of 51.37%. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the previous year, the firm earned $1.37 EPS. Visa’s revenue was down 18.6% on a year-over-year basis. As a group, equities research analysts predict that Visa Inc will post 4.98 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.63%. Visa’s dividend payout ratio (DPR) is currently 22.06%.
V has been the subject of several research analyst reports. Citigroup lifted their target price on Visa from $205.00 to $223.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Raymond James lifted their target price on Visa from $204.00 to $217.00 and gave the stock an “outperform” rating in a research note on Wednesday. Daiwa Capital Markets restated a “neutral” rating and issued a $204.00 price target on shares of Visa in a research note on Tuesday, July 21st. Wedbush boosted their price target on Visa from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Finally, Wells Fargo & Co boosted their price target on Visa from $205.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Seven research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Visa has a consensus rating of “Buy” and a consensus price target of $207.56.
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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