Northcape Wealth Management LLC Has $3.80 Million Stock Holdings in Visa Inc. (NYSE:V)

Northcape Wealth Management LLC reduced its holdings in shares of Visa Inc. (NYSE:V) by 0.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 14,493 shares of the credit-card processor’s stock after selling 50 shares during the period. Visa accounts for about 1.4% of Northcape Wealth Management LLC’s portfolio, making the stock its 21st largest position. Northcape Wealth Management LLC’s holdings in Visa were worth $3,804,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Livelsberger Financial Advisory bought a new position in shares of Visa during the fourth quarter valued at $25,000. Westend Capital Management LLC bought a new position in Visa during the 1st quarter valued at about $25,000. POM Investment Strategies LLC boosted its position in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in Visa during the fourth quarter worth about $33,000. Finally, TruNorth Capital Management LLC increased its holdings in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

V has been the topic of several recent analyst reports. Evercore ISI reduced their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Citigroup cut their price target on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Jefferies Financial Group decreased their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, Bank of America restated a “neutral” rating and issued a $297.00 price objective (down previously from $305.00) on shares of Visa in a research report on Wednesday, July 10th. Six research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $308.50.

Visa Price Performance

Visa stock opened at $267.44 on Monday. The firm has a market capitalization of $489.13 billion, a P/E ratio of 29.88, a PEG ratio of 1.89 and a beta of 0.95. The business has a 50-day moving average of $265.93 and a 200-day moving average of $273.23. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.16 earnings per share. On average, equities analysts anticipate that Visa Inc. will post 9.91 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

About Visa

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.