ProShare Advisors LLC Buys 22,009 Shares of Visa Inc. (NYSE:V)

ProShare Advisors LLC grew its position in shares of Visa Inc. (NYSE:V) by 4.9% in the second quarter, HoldingsChannel reports. The firm owned 468,804 shares of the credit-card processor’s stock after buying an additional 22,009 shares during the quarter. ProShare Advisors LLC’s holdings in Visa were worth $123,047,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Livelsberger Financial Advisory purchased a new stake in Visa during the fourth quarter valued at $25,000. Westend Capital Management LLC purchased a new stake in shares of Visa during the 1st quarter valued at about $25,000. POM Investment Strategies LLC lifted its holdings in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in Visa in the fourth quarter worth about $33,000. Finally, TruNorth Capital Management LLC increased its stake in 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 acquiring an additional 89 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.

Visa Trading Down 0.2 %

V opened at $284.77 on Friday. 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 cap of $520.83 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 2.05 and a beta of 0.96. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $293.07. The stock has a fifty day moving average price of $270.65 and a 200-day moving average price of $273.45.

Visa (NYSE:V) last posted 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. The firm had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.16 EPS. As a group, equities research analysts anticipate 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 was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.73%. Visa’s dividend payout ratio is presently 23.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Citigroup lowered their price objective on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Evercore ISI lowered their price target on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Compass Point initiated coverage on shares of Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price on the stock. Finally, Jefferies Financial Group dropped their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus target price of $310.22.

Visa 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.