Navalign LLC Purchases 196 Shares of Visa Inc. (NYSE:V)

Navalign LLC grew its position in shares of Visa Inc. (NYSE:V) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,163 shares of the credit-card processor’s stock after purchasing an additional 196 shares during the quarter. Visa comprises approximately 0.9% of Navalign LLC’s investment portfolio, making the stock its 21st largest position. Navalign LLC’s holdings in Visa were worth $2,930,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Visa by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after purchasing an additional 788,908 shares during the period. Capital International Investors grew its position in Visa by 2.7% in the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after purchasing an additional 626,618 shares during the period. Capital World Investors grew its position in Visa by 5.4% in the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after purchasing an additional 968,008 shares during the period. Norges Bank acquired a new stake in Visa in the 4th quarter valued at $3,895,015,000. Finally, Charles Schwab Investment Management Inc. grew its position in Visa by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,524,329 shares of the credit-card processor’s stock valued at $2,725,079,000 after purchasing an additional 141,566 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.7 %

Shares of NYSE V opened at $276.37 on Friday. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $290.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $503.63 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 1.95 and a beta of 0.95. The business has a 50-day moving average of $265.70 and a 200-day moving average of $273.13.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same quarter in the previous year, the firm earned $2.16 earnings per share. Visa’s revenue was up 9.6% on a year-over-year basis. Sell-side analysts expect that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s payout ratio is 23.24%.

Analyst Ratings Changes

V has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Jefferies Financial Group cut 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. Evercore ISI cut their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Citigroup cut their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, Bank of America reaffirmed a “neutral” rating and set a $297.00 price objective (down from $305.00) on shares of Visa in a report on Wednesday, July 10th. Six investment 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’s stock. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average price target of $308.50.

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.