Ropes Wealth Advisors LLC Has $1.72 Million Position in Visa Inc (V)
Ropes Wealth Advisors LLC increased its position in shares of Visa Inc (NYSE:V) by 0.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,387 shares of the credit-card processor’s stock after buying an additional 11 shares during the period. Ropes Wealth Advisors LLC’s holdings in Visa were worth $1,723,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of V. Vicus Capital raised its stake in Visa by 17.4% in the first quarter. Vicus Capital now owns 4,719 shares of the credit-card processor’s stock worth $419,000 after buying an additional 701 shares during the period. Gulf International Bank UK Ltd raised its stake in Visa by 0.6% in the first quarter. Gulf International Bank UK Ltd now owns 582,751 shares of the credit-card processor’s stock worth $51,789,000 after buying an additional 3,350 shares during the period. Chesley Taft & Associates LLC raised its stake in Visa by 0.4% in the first quarter. Chesley Taft & Associates LLC now owns 146,994 shares of the credit-card processor’s stock worth $13,063,000 after buying an additional 580 shares during the period. First National Bank of Mount Dora Trust Investment Services increased its stake in shares of Visa by 0.6% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 38,191 shares of the credit-card processor’s stock worth $3,394,000 after buying an additional 225 shares in the last quarter. Finally, Gillespie Robinson & Grimm Inc. increased its stake in shares of Visa by 13.2% in the first quarter. Gillespie Robinson & Grimm Inc. now owns 276,662 shares of the credit-card processor’s stock worth $24,587,000 after buying an additional 32,330 shares in the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of Visa Inc (V) traded up 0.13% on Friday, reaching $103.35. The company had a trading volume of 4,467,738 shares. The company’s 50-day moving average is $99.99 and its 200-day moving average is $93.46. Visa Inc has a one year low of $75.17 and a one year high of $104.20. The company has a market capitalization of $236.30 billion, a PE ratio of 38.43 and a beta of 0.94.
Visa (NYSE:V) last released its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.36 billion. Visa had a net margin of 45.10% and a return on equity of 30.90%. The business’s revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the business earned $0.69 EPS. Equities research analysts predict that Visa Inc will post $3.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be issued a $0.165 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $0.66 annualized dividend and a dividend yield of 0.64%. Visa’s dividend payout ratio (DPR) is presently 24.54%.
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V has been the subject of a number of research reports. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a research report on Monday, May 29th. Deutsche Bank AG raised their price objective on Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 10th. Vetr downgraded Visa from a “hold” rating to a “sell” rating and set a $92.84 price objective for the company. in a research report on Monday, June 5th. Wedbush reiterated an “outperform” rating and issued a $100.00 price objective (up previously from $96.00) on shares of Visa in a research report on Tuesday, June 6th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $104.00 price objective on shares of Visa in a research report on Sunday, June 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $104.76.
In other news, Director Mary B. Cranston sold 10,400 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $103.32, for a total value of $1,074,528.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the completion of the sale, the executive vice president now owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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