Semmax Financial Advisors Inc. Buys 1,663 Shares of Visa Inc. (NYSE:V)

Semmax Financial Advisors Inc. increased its stake in shares of Visa Inc. (NYSE:V) by 14.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,492 shares of the credit-card processor’s stock after buying an additional 1,663 shares during the quarter. Semmax Financial Advisors Inc.’s holdings in Visa were worth $3,517,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Visa by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after acquiring an additional 788,908 shares in the last quarter. Capital International Investors increased its stake in shares of 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 last quarter. Capital World Investors raised its holdings in shares of Visa by 5.4% during the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after buying an additional 968,008 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Visa by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 8,900,179 shares of the credit-card processor’s stock worth $2,317,162,000 after buying an additional 166,767 shares during the last quarter. Finally, Ninety One UK Ltd boosted its stake in Visa by 0.7% in the second quarter. Ninety One UK Ltd now owns 7,867,958 shares of the credit-card processor’s stock valued at $2,065,103,000 after buying an additional 55,437 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on 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 directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.19% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $288.62 on Tuesday. 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’s 50-day moving average price is $271.05 and its 200-day moving average price is $273.47. The firm has a market capitalization of $527.86 billion, a P/E ratio of 32.25, a P/E/G ratio of 2.05 and a beta of 0.96. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $293.07.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (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 business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same quarter in the prior year, the company earned $2.16 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. 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 declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.72%. Visa’s payout ratio is 23.24%.

Analyst Upgrades and Downgrades

V has been the topic of a number of research analyst reports. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Royal Bank of Canada decreased their target price on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price target on shares of Visa in a research note on Thursday, September 12th. Compass Point began coverage on Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective on the stock. Finally, Morgan Stanley dropped their target price on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company 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.